Only 7% of UK adults have critical illness or income protection

A survey of more than 2,000 UK adults found that fewer than one in four people currently have a life insurance policy in place, while only 7% have either a critical illness or income protection policy. Charles Stanley stated the results illustrated a "disturbing picture" of the UK populace's ability to absorb financial shocks, particularly given the rising cost of living and ongoing economic turmoil following last week's Mini Budget. Of those that do have a protection policy in place, 18% of respondents would place their cover on hold to cope with increasing costs elsewhere, while 10%...