One in 10 re-evaluating protection premiums due to cost of living: Royal London

Reducing or stopping premium payments

John Brazier
clock • 1 min read
One in 10 re-evaluating protection premiums due to cost of living: Royal London

New research from Royal London shows that one in ten people with a protection policy are reviewing the cost of their premiums as a result of the cost of living crisis.

A survey of 4,001 UK adults carried out in February and March this year found that 11% of respondents are considering reducing or stopping their premiums to cut back on expenses. As the cost of living increases and inflation growing to 6.2% in February, Royal London's research found that nine in 10 people are planning to make changes to their household outgoings to meet expenses. Nearly two-thirds (63%) of people are planning to realign their finances, with 31% paying less into savings,...

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