Millions of 'DINOs' ill-prepared for financial shocks

clock • 4 min read

Over three million working couples are classed as 'double income, no option' (DINOs), which means they are vulnerable to financial ruin if one of the two loses their earnings. LV='s Justin Harper discusses how we can better safeguard those at risk.

The typical household today looks very different from the traditional image of a working family made up of one primary breadwinner and one homemaker. Instead, nowadays many households rely on two incomes to maintain their lifestyle, or even just to get by. Of the two thirds of Brits who are living as part of a couple, half (51%) are both currently working - yet, without adequate savings or protection insurance, millions could be at risk of financial ruin if one of the main earners was unable to work for a period of time. In fact, our latest research has found that there are 3.2 mil...

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