Kevin Paterson: Three lines of defence to overcome policy lapses

The cost of living crisis is big news at the moment. The chancellor recently announced a multi-billion pound package of support, yet we may be back to square one in a few months when he's asked to repeat the process. A cost of living crisis leads to a squeeze on income and people look for ways to make quick cost savings. Unfortunately, one of the first direct debits that they consider cancelling is their protection policy. While the Government's support package may help to ease tight personal finance margins, we should assume it's not going to affect the threat of increasing lapse rates ...