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Life cover enquiries fall by 50 per cent

Moneynet says the number of enquiries to its life cover service has halved in the past two months and calls it a catastrophic slump.
Moneynet says enquiries are down from nearly 8,000 during May to a little over 4,000 enquiries in each of June and July.
It says the levels recorded are an indication of the levels of broker sales of the product and that consumers are turning their backs on life cover.
Moneynet attributes the slump to a combination of factors including the World Cup, the heatwave and rising council tax and energy bills.
Chief executive Richard Brown says: “This is not so much a tail off as a catastrophic slump, and you have to wonder how people are going to cover key outgoings such as the mortgage payment in the event of the worst happening.
“Life cover is as cheap as chips, and it is perhaps a false economy to abandon it – the upshot is that homeowners with young children could leave themselves very vulnerable by ignoring this basic cover.”


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