As few as one in four, or 23%, of British adults take out loss of earnings insurance to protect their income in the event they lose their job, a nationwide report from Perspectus Global has found.
The findings come despite the recent Covid-19 pandemic, which saw individuals lose jobs or experience job insecurity after being placed on furlough. Perspectus Global's report found there were significant barriers to adults taking out policies and claiming on them. As many as 72% of UK adults had decided against making a valid insurance claim, instead paying out of their own pocket to resolve issues, in addition to their insurance payments, it found. The study found the average adult will choose 20 times a year not to make a claim they feel is legitimate. One in 10 people cited...
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