15.9m people in UK now financially vulnerable: Royal London

As a result of Covid-19

John Brazier
clock • 2 min read

Insurer launches Changemakers programme to help address growing levels of financial vulnerability.

New research from Royal London shows that 15.9 million adults in the UK now consider themselves to be more financially vulnerable than they did in March, due to the ongoing pandemic. This represents a rise of 30% during the three-month period between March and June this year. Reduced income was cited as the primary reason for greater financially vulnerability among UK adults (33% of those surveyed), while around one in five (19%) had a lack of savings to fall back on in the pandemic. Other reasons included taking on more debt (13%), and not being able to afford their living costs (11%...

To continue reading this article...

Join COVER for free

  • 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.

Join now

 

Already a Cover member?

Login

More on Insurer

PartnerRe joins ABI

PartnerRe joins ABI

Over 300 members

Cameron Roberts
clock 17 April 2025 • 1 min read
Guardian upgrades critical illness cover

Guardian upgrades critical illness cover

Update to cancer definition

Jaskeet Briah
clock 16 April 2025 • 3 min read
Zurich adds IP plan to CIExpert's Insight Zone

Zurich adds IP plan to CIExpert's Insight Zone

Sits alongside its life and CI plans on the dashboard

Jaskeet Briah
clock 15 April 2025 • 2 min read