LV= research shows how lockdown and social distancing is affecting the nation’s mental health
The latest figures from the LV= Wealth and Wellbeing Monitor, which surveys 4,000 UK consumers, has revealed that a quarter of the general population feel lonely and isolated as a result of lockdown and social distancing measures, with those on furlough (33%) or who have lost their job (55%) more likely to feel this way.
Around one in 10 unable to work for two weeks or more in the past three months have sought face-to-face or online mental health support, the study found.
Some 59% of young adults aged 18 to 24 years old said they have felt stressed or anxious in the last three months and 44% say they have felt lonely and isolated - more than one in 10 (11%) young adults have independently sought mental health support online.
The general public is also anxious, with 40% fearing a second wave of coronavirus and nearly a quarter (23%) are worried about going into shops, restaurants and pubs.
Debbie Kennedy, Protection Director at LV=, said: "Fears about the financial impact of coronavirus, impending jobs losses and isolation caused by lockdown have left individuals and families across the UK feeling anxious.
"The virus has not only had a devastating impact on physical health, it also has a huge effect on our mental health. Everyone has had to adapt to the coronavirus pandemic in different ways, but young people continue to face severe pressures on their finances and mental health.
"At LV=, we are proud to offer payment breaks and remote GP consultations and counselling services via LV= Doctor Services to vulnerable customers who need extra support. Earlier in the year, we also introduced a dedicated emotional wellbeing helpline for young adults up to the age of 23, who may be children of our members, or policyholders themselves.
"Since March, almost a quarter of members using Doctor Services to access therapy were between 18 and 30 years old. Maintaining mental health has become a priority at this time, especially for those experiencing financial distress and providing ease of access to support services is vital. Uncertain job prospects and income shocks in recent months prove that protection policies can provide more than just a financial safety net for our members."
Earlier this year, LV= introduced a dedicated counselling line for 16-23 year olds to support on with a range of mental health issues including stress, anxiety and depression.
Mental health (29%) is the single biggest reason for LV= income protection claims.
Online event on 9 December
Red flags, reviews and verification checks
Pandemic has provided ‘new perspective’
ReMark Global Consumer Study shows
Despite Royal London rumours