Only 15% of working adults have an income protection policy in place to protect themselves and their families if they are unable to work, according to research by LV=.
Research among 4,000 surveyed UK adults found that while 12% of respondents have income protection provided by their employer, 26% of surveyed adults who don't have a group or individual policy, would like to have one. Meanwhile, 60% of surveyed 25-44 year olds who don't have protection in place would feel more "financially resilient" if they were covered. In the current economic climate, LV= revealed that 26% of working adults have less than £1,000 in savings or no savings at all to help them if they were unable to work. Almost one in five (19%) surveyed respondents would need to ...
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.