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

One in four currently have life insurance

John Brazier
clock • 1 min read

Less than one in 10 adults in the UK currently have either critical illness cover or income protection, according to research from investment management firm, Charles Stanley.

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%...

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

NHS waiting list rises to 7.4m patients in July 2025

NHS waiting list rises to 7.4m patients in July 2025

Levels rebound from a two-year low

Jaskeet Briah
clock 11 September 2025 • 2 min read
A coffee a day keeps the doctor away

A coffee a day keeps the doctor away

The benefit of everyday benefits

Cameron Roberts
clock 11 September 2025 • 5 min read
Recognising World Suicide Prevention Day

Recognising World Suicide Prevention Day

Changing the Narrative

Cameron Roberts
clock 10 September 2025 • 3 min read