Investing in a Low-Cost Life Insurance Policy Can be a Wise Choice

A new study from a team of British researchers provides a new reason for consumers to consider investing in a low cost life insurance policy.

The study from researchers at the University of York found that as many as one in five people can end up falling below the poverty line following the death of their partner.

"The recent fall in the value of annuities, savings and investments means an even wider group of older people could face financial difficulties when their partner dies, whether these difficulties are short-lived or longer lasting," researcher Anne Corden said.

The study found that women were statistically more likely than man to suffer financial hardship for at least three years following the death of their partner.

The researchers noted that failure to leave behind a will can contribute to these difficulties, as can getting off to a late start with retirement planning and saving. Consumers are also generally advised to ensure that their financial awareness is adequate.

Investing in a low cost life insurance policy is also widely recommended as a way to ensure financial stability for one's family.

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