Provider, Scottish Widows, has released research which shows 35% of private renters would run out of savings within ten weeks if they were unable to work due to injury or illness.
The research, which surveyed over 4,000 UK adults, also showed that 32% of those surveyed would need to rely on financial support from loved ones and 18% would take out a loan if they couldn't work. Of the renters quizzes, 57% said that paying their bills would be the biggest worry, should they face financial hardship. Were they to be out of work, 47% said they would have concerns about keeping a roof over their head; and 27% said they would be most worried about continuing to provide for their family. Rose St Louis, Protection Director, Scottish Widows, said: "Too many renters today ...
To continue reading this article...
Join COVER for free
Signup and gain exclusive members-only insights
- 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.
