Adam Higgs assesses the IP options available to renters
According to the Office of National Statistics, the number of households living in privately rented accommodation increased from 2.8 million in 2007 to 4.5 million in 2017 - an increase of 63%. For most, their rent will be their biggest monthly expense and the loss of income would have a huge impact on their ability to keep up with their payments and as such income protection (IP) could be a valuable policy for many. In recent times the Building Resilient Households Group and Income Protection...
Short-term and long-term income protection
Among other initiatives
As SSP value falls
Up on last year’s figure