Employees choosing emergency funds over protection products

Close Brothers finds

John Brazier
clock • 1 min read

Research from Close Brothers finds UK employees are more likely to rely on emergency funds than take out protection products.

The Expecting the unexpected: a spotlight on preparing for a crisis report, based on a survey carried out on behalf of Close Brothers by Opinium of 2,000 UK based employees, found three quarters of employees having an accessible emergency saving pot compared to just 6% of UK employees who have income protection. The report found that whilst the vast majority of workers in large organisations have held an insurance policy in the last 12 months (90% - mostly car (69%) and home insurance (68%)), far fewer have arranged products designed to protect their financial, mental and physical health...

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 Individual Protection

The COVER Review: Men's health, AI for insurers and weight management

The COVER Review: Men's health, AI for insurers and weight management

Week commencing 17 November 2025

COVER
clock 21 November 2025 • 1 min read
Adults aged 45-54 most at risk of financial strain: The Exeter

Adults aged 45-54 most at risk of financial strain: The Exeter

21% had no savings to fall back on

Jaskeet Briah
clock 21 November 2025 • 2 min read
AI expected to reduce workforce for large private sector firms

AI expected to reduce workforce for large private sector firms

CIPD research findings

Patrick Brusnahan
clock 10 November 2025 • 2 min read