Country residents 'not saving or taking out life insurance'
Many rural residents are not putting money aside in savings, insurer NFU Mutual has claimed.Research from the firm found that just 25 per cent of country dwellers are saving - while, by contrast, 20 per cent are spending more than they earn each month.This could lock the residents into a debt spiral, with the big spenders finding themselves unable to meet credit repayments.Moreover, 44 per cent said that life insurance was not a "priority" for them at the moment.Laura Wood at NFU Mutual suggested that this could be due to the close-knit nature of rural communities."The fact that only a small proportion of rural dwellers view life insurance as a priority is a huge worry," she commented. "They may believe that living in a rural community provides them with closer links to their wider family and friends who would take care of their dependents if the principal wage earner was not around."
Share this..
Related stories
ITV under pressure with £20 million budget cut
After announcing the loss of 1,600 jobs last year ITV is under more pressure to reduce costs after announcing a £20 million cut in its programme budget. The significant reduction comes on top of an additional £20 million of cost savings announced by CEO John Cresswell as the ongoing downturn in advertising revenue continues to hit home. This is the latest in a line of disappointing announcements...
Read MoreBank of England warned against false hope
A number of analysts have stepped forward to suggest that the Bank of England MPC should refrain from over exuberance in the light of more upbeat statements and reports on the UK economy. The committee is due to meet this month and while it appears as though they will rubberstamp an easing of the aggressive "jumpstart" policy seen over the last few months there is no doubt that we are not yet out...
Read MoreUniversity pension fund faces deficit of £10.5bn
28/10/2013 The Universities Superannuation Scheme (USS) is the biggest pension fund in the country, and was originally reported to be facing a deficit of £7.9bn, however, reports are suggesting that this deficit could actually be larger than originally reported. Analysis from pensions consultant John Ralfe has suggested that the shortfall could in fact be closer to £10.5bn, raising some co...
Read MoreAre some UK households really 25% better off than they were 18 months ago?
A survey by Ernst & Young has opened up a very controversial and difficult debate regarding disposable income across the UK. The survey suggests that the reduction in UK base rates by the Bank of England has led to an average £200 a month mortgage saving for households in full employment. While there is no doubt that reduced interest rates have impacted upon monthly mortgage payments, this argume...
Read MoreWhy was the Dunfermline Building Society sold so quickly?
The takeover of the profitable areas of the Dunfermline Building Society was confirmed today with Nationwide agreeing to retain the Dunfermline name in Scotland. The takeover of the profitable operations has caused a major rift between the Scottish government and the UK government with a suggestion that the deal was rushed through with very little input from the Scottish executive.
...