It emerged recently that Ann Keen, Labour's health minister has insured her husband's life for £430,000 and billed the monthly premiums as parliamentary expenses.

Meanwhile, recent research from Prudential has found that Brits are willing to give up luxuries such as TV subscriptions and mobile phone contracts in place of life insurance policies.

As the credit crunch takes hold in the UK, Brits are being forced to cutback on non-essential items in favour of security. But it is a different story for Ann Keen who, despite benefiting from life cover under her parliamentary pension, insured her own and her husband's life at a cost of £867 each month.

As tax payers, it is likely that the Brits who are struggling amid tight credit are the ones who are paying for Mr and Mrs Keen's life insurance policy, which will pay out for whoever dies first.

According to Prudential it is life insurance that Brits value most and, consequently, tax payers are giving up luxuries in order to insure their lives in policies that will undoubtedly cost a lot less than £867 a month.

Ann Keen also claimed expenses towards her £500,000 mortgage, meaning she is unlikely to need the mortgage protection life insurance that many Brits are keen to ensure they have. As the economy begins to crumble, employment is at risk and without insurance Brits could face repossessions.

The expenses were revealed following a three year battle under the Freedom of Information Act and exposed the expenses of 14 Labour MPs. The expenses have acted as an eye opener for the tax-paying British public who in turn almost directly pay MPs expenses.

Millions of Brits are currently struggling to pay for food and energy bills, let alone a £500,000 mortgage and £430,000 life insurance policy. Household costs are on the rise, emphasised by the fact that an average household's energy bill is soon likely to cost in excess of £1,400.

And, in addition to cutting back on life's luxuries, according to Prudential, Brits are forced to go for cheaper life insurance options unlike Ann Screen who effectively charges the tax payer £867 a month for her husband's life.

The news comes as the latest in a long line of expenses scandals that have been emerging over recent months and denting the public's trust in the Government.

Other recent revelations include an MP who funded his sons' university education with tax payer's money and another MP who paid his boyfriend more than £8,000 that was claimed as expenses.

As a fan of article content and as a professional working for a digital marketing agency, Isla Campbell hopes you enjoyed her article but urges you to treat it as corporate content with business interests.