Recession fears boost insurance policies

More New Zealanders are taking up insurance policies because of the recession, a survey has found... The Life Matters survey of more than 1000 New Zealanders, conducted by AIG Life, found that respondents rated redundancy as a higher risk than any health risk... As a result, income protection insurance had risen by 77% in less than two years.

Twenty-three percent of respondents now had this policy, compared with only 13% in both 2005 and 2007, the survey found... There had also been an increase in trauma and critical illness insurance, with double the amount of people having this protection compared with 2007... When it came to life insurance, 54% had this policy, up from 48% in 2007 and 38% in 2005...

TVNZ: Recession fears boost insurance policies