Consumers value protection policies over luxuries and entertainment: MetLife UK

‘Adults have no plans to stop paying for their policies’

Hemma Visavadia
clock • 2 min read

Income/individual protection has been ranked as the commodity people in the UK are least likely to give up due to increasing cost of living.

According to a recent survey of 3,000 UK consumers carried out in March, only 4% of respondents would sacrifice their income/individual protection, while 5% said they would give up their life insurance or private health insurance commitments if forced to make cutbacks. In comparison, 40% of respondents said they would give up everyday perks such as eating our or buying coffees, while 37% are prepared to forgo "luxury items" such as household goods or furnishings and just over one quarter (28%) would give up entertainment subscriptions like Netflix.  At the other end of the scale, alon...

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 Individual Protection

COVER Protection and Health Summit 2024: In pictures

COVER Protection and Health Summit 2024: In pictures

Event on 07 November

COVER
clock 13 November 2024 • 1 min read
Third of stressed Brits worried about personal finances

Third of stressed Brits worried about personal finances

Cigna Healthcare research

Jaskeet Briah
clock 13 November 2024 • 2 min read
Fifth of adults believe they do not need a will

Fifth of adults believe they do not need a will

Most respondents have no life cover

Jaskeet Briah
clock 11 November 2024 • 3 min read