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'No saving is too small'

STRUGGLING families would switch life assurance provider for savings as low as €5 a month, according to new research.

Some 57pc of respondents in a survey of financial brokers – carried out by life assurance provider Caledonian Life – said their clients would be prepared to switch policies even if the saving was less than €10 a month.

Greg Dyer of Caledonian Life said: "Our financial brokers believe a saving of €5 to €10 per month on mortgage protection cover would be enough to make the majority change provider.

"Such is the pressure people are under nowadays that a seemingly nominal financial monthly saving can be the catalyst for reconsidering protection provider."