Insurance rates and hung parliament

Insurance providers are most reluctant to impose rate rises on their current customers so it makes sense that if you are contemplating mortgage protection insurance or income protection insurance that you should get in quick. If the result of a hung parliament is extra unemployment, then insurance companies would have to pay increasing numbers of claims and in the past this has caused a rise in insurance rates. The message therefore is if you are contemplating obtaining mortgage protection insurance or income protection and you think a hung parliament will have a negative effect on employment affecting you, then you might consider getting your cover in place as soon as you can.

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