Income protection engagement low despite cost of living crisis

The Exeter reveals

Hemma Visavadia
clock • 1 min read

With the cost of living crisis affecting UK households, just less two in 10 people have or are applying for income protection, according to The Exeter.

Data from The Exeter's Challenging Times: The health and financial fears of UK workers report found that only 17% of respondents have, or are in the process of applying for, income protection policies. This is despite 43% of working age adults stating they are worried about a loss of earning due to personal illness, rising to 47% in London. However, 18% surveyed individuals didn't see the need for insurance products such as income protection or life insurance, while 8% of respondents didn't know what protection products were and a further 9% of workers would like to know more but didn...

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