Baby boomers urged not to cut back on health insurance

The baby boomer generation has been urged not to cut back on health insurance despite the rising cost of living and tightening family finances.

Results of a poll of 2,000 homeowners with at least one child suggested that turning 50 marks one of the most expensive periods of time in life, but experts encouraged those in this demographic to maintain their health insurance spend.

The experts noted that people in their 50s are often still paying for their mortgage, supporting their teenage children and being hit with higher holiday costs, as they are paying for four adults.

Marc Bell, marketing and business strategy director at the Benenden Healthcare Society, said that it is important to have insurance safeguards in place, despite the rising cost of living.

He added that failing to maintain insurance spend could leave loved ones to pick up the pieces and to try and deal with huge financial burdens should the worst happen.