News

Pricing ’ping pong’ could force those in poverty to sacrifice insurance – SMF

By Jon Guy 2023-03-14T07:00:00

money in purse

The research claims those on the lowest incomes ‘continue to pay more for being poor’

People in poverty could be forced to sacrifice their insurance coverage to prioritise food and energy costs due to “pricing ping pong”.

That is according to new research by the Social Market Foundation (SMF), which found that insurance was becoming increasingly unaffordable for those on low incomes as they were charged “a poverty premium”.

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