ARCHIVE: Only 7% have income protection
Latest research by the Cirencester Friendly Society has found that only 7% of UK people have income protection and that British people are “overly optimistic” about what might happen to them in the future*.
The poll asked whether people thought it was likely that certain situations were likely to happen to them such as being involved in a road traffic accident or being unable to work for 12 weeks or more due to illness and injury. Around 60% did not think it likely that these events were likely to ever happen.
What this means to home owners and families
Adam Nanson from Your Mortgage Expert comments:
“When speaking to people, we often find they’re not adequately protected against the financial impact of illness, injury or death. However, they don’t want to think about these difficult subjects or don’t think they can afford the additional cost of personal insurance.
“At Your Mortgage Expert, we would urge people to have these challenging conversations with their loved ones and set aside the money to take out some form of protection insurance. Essentially, people need to ask themselves, how would I pay the mortgage if I got ill and how would my family cover the bills if something were to happen to me?”
How Your Mortgage Expert can help
Adam Nanson continues:
“At Your Mortgage Expert, we offer advice on a range of protection products to help look after you and your family. Whether you’re interested in Critical Illness, Income Protection or Life Insurance, we can help. And, if you are concerned about the cost of protection, we will work with you to find an arrangement that is both affordable whilst providing you with an appropriate level of cover.”
If you’re still not sure whether you need protection, why not read about some of our protection customers. Hannah and Steve took out Life Insurance and Income protection to ensure their family was looked after should the worst happen to either of them.
We don’t charge for a consultation, so by speaking with us, you won’t be under any obligation. To find out more about our services and how we operate, visit our about us section.
The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.
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