Why income protection matters so much and how to help them choose and retain it

Helping your customers navigate the hardest times

clock • 5 min read

As the cost of living crisis continues to bite and customers focus on getting by day to day, it’s easy for them to underestimate their long term protection needs. Income protection can be particularly hard to justify, but when it’s needed it can make an essential difference, writes Legal & General's director of intermediary, Julie Godley.

The cost of living crisis and its impact on disposable income continues at pace. Legal & General research has found that: Almost two thirds of UK adults (64%), or about 33 million people, are concerned about the future due to the current state of their finances More than half of UK adults (56%) feel they've already done everything they can to save money. Often the first expenses cut back by stretched consumers are "intangibles" - things you can't see or touch. Unfortunately, insurance policies can fall into this category. And income protection is arguably the most important in...

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