The year of the squeeze: Why the cost-of-living crisis highlights the need for protection

"This is an unmissable window for advisers to educate customers"

clock • 3 min read
The year of the squeeze: Why the cost-of-living crisis highlights the need for protection

Despite the cost-of-living crisis causing significant financial burden for many consumers, Legal & General's Ali Crossley says it is also an opportunity for advisers to educate and engage with clients about the benefits protection offers.

The financial fallout of the pandemic has unfortunately left many UK households and businesses with an unsustainable burden of debt. While government support helped both people and businesses alike with initiatives like the furlough scheme, it has now petered out and many find themselves feeling the pinch on their finances. To exacerbate this, according to Legal & General's Deadline to Breadline research, one in five households have no savings at all. The current rise in the cost-of-liv...

To continue reading this article...

Join Cover

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
  • 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 Adviser / Broking

Openwork Partnership commits to diversity, wellbeing and inclusivity through action group

Openwork Partnership commits to diversity, wellbeing and inclusivity through action group

Achieves Government’s Disability Confident Status

Hemma Visavadia
clock 01 July 2022 • 1 min read
Intermediaries must engage with Consumer Duty process before it's too late

Intermediaries must engage with Consumer Duty process before it's too late

"Can't bury their heads in the sand"

Hemma Visavadia
clock 01 July 2022 • 2 min read
COVER Healthcare Innovation Awards 2022: All winners revealed!
PMI

COVER Healthcare Innovation Awards 2022: All winners revealed!

Watch the full ceremony online

COVER
clock 30 June 2022 • 1 min read