People think insurers only pay 34% of protection claims

On average, UK adults assume insurers pay out only a third of individual protection claims each year - compared to the 97.8% actually paid in 2017 - while just 27% have life insurance - a 7% drop compared to last year - and millions have no back-up plan, new research from Scottish Widows has revealed. More than a fifth (21%) of households would not survive financially if they unexpectedly lost their main income, while 12% of UK adults have phone insurance compared to 9% with critical illness cover (CIC) - less than one in 10. "It's a worrying truth that people are more likely to insur...