Critical Illness Cover News - protected.co.uk

People have decided that there are more important things they can spend their money on than celebrating this new year's eve, research reveals.

Out of those individuals opting to stay in tomorrow (December 31st) night, 81 per cent cite better use of money as a reason as to why they are not celebrating elsewhere, NS&I discovered.

And more women (84 per cent) than men (78 per cent) are taking this savvy saving approach to next year, although one important reason for putting money aside could be in order to invest in a life insurance policy for 2009.

Commenting on the findings, Dax Harkins, senior savings strategist from NS&I, states: "The onset of the new year is an ideal time to give personal finances a health check, to work out budgets and to set your savings goals for the year ahead."

Indeed, shoring up cash for critical illness cover could ensure that should a family member be unable to work through a serious illness, a household is financially protected.

Meanwhile, the Association of British Insurers recently urged people not to lie about their smoking and drinking habits to obtain cheaper life insurance as the consequences could prove "disastrous".