Zurich: There is 'high untapped demand' for income protection

Over half of respondents to a major global survey (52%) reported that they would consider buying this form of insurance, yet only around 11%* of the UK working population have cover in place. The main reason given by individuals for not having income protection insurance was a perceived high cost. Those that report being willing to consider buying it said they would be prepared to pay around five per cent of their monthly income for cover. In reality, the cost is significantly less at around 1% of earnings for a healthy, younger person. The majority of those surveyed (60%) said ...