Generation Rent: Less than 16% have life cover

clock • 1 min read

'Millions of renters are risking eviction and financial hardship' due to lack of protection, according to research from Scottish Widows.

Despite almost a third (30%) of private renters admitting that they'd not be financially secure if their household lost its main income, less than a fifth (16%) have life cover in place and only 3% have critical illness insurance. This is regardless of the fact that more than half (56%) have children under the age of 16 who rely on them financially. More than a third (35%) conceded that if they or their partner were unable to work for six months or longer due to ill health or personal injury, they'd be unable to live on a single income.  And when reviewing their finances, 35% said ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Income Protection

Half of homeowners believe income protection pays out on redundancy

Half of homeowners believe income protection pays out on redundancy

Misconceptions over the role of the state, employers and IP

Jaskeet Briah
clock 04 June 2026 • 2 min read
Shepherds Friendly partners with Primis

Shepherds Friendly partners with Primis

Income protection distribution

Jaskeet Briah
clock 21 May 2026 • 1 min read
Cirencester Friendly introduces minimum benefit guarantee for IP

Cirencester Friendly introduces minimum benefit guarantee for IP

Maximum of £1,500 a month

Jaskeet Briah
clock 12 May 2026 • 1 min read