Life Insurance is Life-style reassurance

3/7/2011 4:44 AM EST

Contact Insurance, one the UK's leading life insurance brokers, has recently completed their life insurance review. The report carries some startling facts about the state of the UK population's emergency provisions.

Contact Insurance specialises in life insurance and has identified that almost four million Britons have less than six months worth of emergency provisions. Contact Insurance also notes that a third of Britons (31%) do not have any form of emergency financial safety net in place at all, such as Life Insurance, Critical illness cover or Income Protection.

This would mean that these people would have to cut back on their living costs such as cancelling their satellite TV etc, should they or the main breadwinner be diagnosed with a serious illness, injury or die.

Contact Insurance Life Insurance review also suggests that one in ten (10%) would be forced to sell their house, but more alarmingly almost a quarter of Britons (23%) confessed that they wouldn’t know what to do if the main income was cut.

A further 17% of Britons said they would have to rely on their savings to maintain a standard of living should an emergency happen. For those who rely on credit cards alone, the research found that they could only fund their current standard of living for five months, but only by increasing their personal debt.

David Yates, Head of Marketing at Contact Insurance, added: “It's frightening to think abiout where what you and your family would do should an unplanned emergency happen. Part of the problem is that people don't want to think about it, but either through redundancy, illness, injury or death, it will happen to a significant number of us."

“We are urging everyone to start taking action now and building their own personal financial safety net. If you have children, get life insurance. If you work for yourself, you should particularly look at sickness and medical cover and if you think the NHS my be struggling to cope, them PMI is a good form of protection for you and your family.

“Having this in place will give peace of mind that you and your family will be properly cared for and your standard of living will be maintained should you or a loved one become seriously ill, disabled or even die,” he added.