Cost of living leaving more families unprotected: Vitality

IP and critical illness cover “too expensive”

Jaskeet Briah
clock • 2 min read

The cost of living crisis is leaving families across the country feeling less financially resilient and unprotected should they find themselves unable to work due to ill health, new research from Vitality has found.

The economic crisis is having a "significant impact" on the finances of families, as 74% of those with children under the age of 18 reported financial worries, a survey carried out among 2,000 UK adults for Vitality found. Some 35% of parents with children under 18 also said they don't feel financially resilient compared to 67% of those without children, who said they are worried about money. For single parents, 46% reported they don't feel financially resilient. Additionally, 66% of those with children under 18 are concerned about a loss of income due to personal illness. However, on...

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