Cost of living crisis causes more adults to want income protection

One in four adults want IP cover

Hemma Visavadia
clock • 1 min read

Only 15% of working adults have an income protection policy in place to protect themselves and their families if they are unable to work, according to research by LV=.

Research among 4,000 surveyed UK adults found that while 12% of respondents have income protection provided by their employer, 26% of surveyed adults who don't have a group or individual policy, would like to have one. Meanwhile, 60% of surveyed 25-44 year olds who don't have protection in place would feel more "financially resilient" if they were covered. In the current economic climate, LV= revealed that 26% of working adults have less than £1,000 in savings or no savings at all to help them if they were unable to work. Almost one in five (19%) surveyed respondents would need to ...

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