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Studies have indicated that a large number of the British population consider their mobile phones to be more important than having life insurance.

It appears as though the technological security provided by a mobile phone is deemed a more valid protection policy than the services provided by insurance companies, such as Norwich Union and Bupa. In the current society, people seem to live in the here and now, not thinking much of what tomorrow holds. In addition, the 21st century champions technological advancements and material possession far more highly than the basic necessities of day-to-day life. People have come to depend on their personal technologies, the most common of which is the mobile phone, and it is the cost of running such a service which they see as being more profitable than paying out money for a policy which they may only require once they are no longer alive.

Children are given mobile phones in case of emergency, mobile phone numbers are rung if something happens and the number of the emergency services is of course free from mobile phones. In this way, people view their mobile as a constant source of life insurance, as it provides them with the ability to be in contact with anyone at any time. Life and pensions company Friend Provident, discovered that 54% of people questioned in its Protection Survey did not have life insurance. Almost seven in ten of the 46% of respondents who did have a life insurance policy, said they would seek professional advice on finding the best cover from either a financial advisor or through media resources or by searching through price comparison websites online.

People's priorities appear to be very different now than they used to be, before the advent of mobile telephones and the internet. By living in a fast-paced, ever-moving and increasingly changeable environment, people are forgetting about making plans for the future and for future generations. They get caught up in the whirlwind of work, school and travel and often lose sight of the most significant aspects of life, such as life insurance. Some participants of the survey went so far as to say that the only way life insurance would win out over their mobile phones would be if the cover on offer were free.

People are prepared to pay out hundreds of pounds on the latest model of phone and monthly bills and line rental, and yet when it comes to their own life, they become flippant and ambivalent. Mark Jones, protection products and actuarial manager at Friends Provident, comments: "Understandably, none of us really want to think about our own mortality, but we do owe it our families to ensure that we have made provision, be it to pay off the mortgage or provide a lump cash sum." Essentially, people must be aware that while a mobile phone serves a purpose in the present it will not magically transform into a nest egg with which to pay medical bills or provide a comfortable future for our children.