One third of middle earning households have missed the opportunity to put protection in place for their family, including life insurance and income protection, according to Hargreaves Lansdown (HL).
The HL Savings and Resilience Barometer for July 2024 found that around 39% of middle earners had enough life insurance to care for their family and cover their liabilities if they were to pass away. The "worst gaps" identified by HL in the finances of middle earners were in long-term planning, scoring ‘poor' or ‘very poor' when it came to investment (62%) and pension planning (48%). Around one third did "poorly" when it came to debt (35%) and protection (30%). Meanwhile, this demographic fared "better" on savings as 59% had enough savings to cover at least three months' worth of esse...
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