ARCHIVE: Only a third of adults have protection insurance

According to research from the Money Advice Service*, just 35% of adults have purchased the right insurance to protect themselves from a financial impact. This is despite 32% having experienced a “financial shock” in the last 5 years. This includes losing their job or being unable to work as a result of injury. This was reported in the Financial Reporter* on 9th September 2015.

As a result of this research, the The Money Advice Service together with Association of British Insurers* is encouraging people in the UK to either put enough money in savings or to consider taking out the relevant insurance products to protect themselves and their families should something happen.

What this means to individuals and families

Adam Nanson, Managing Director of Your Mortgage Expert comments:

“When speaking to people, we find that they often know they are not adequately protected against the financial impact of illness, injury or death. However, they often don’t want to think about these difficult subject 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.”

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 are 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 customers of Your Mortgage Expert. 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.

To find out more about the protection products Your Mortgage Expert can advise you on, take a look at our dedicated page. Alternatively, contact us.

We don’t charge for an initial 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.

Source correct at time of publication:

Source: http://www.financialreporter.co.uk/protection/32-experience-financial-shocks-but-only-a-third-protected.html