Seeing the truth about protection
There is a major discrepancy between perceptions and the reality of protection - seeing the truth about protection - according to a recent report by the Association of Mortgage Intermediaries (AMI). More than six in 10 people say life insurance is important, even though fewer than three in 10 currently own a policy. Similarly, over half say the same about critical illness insurance, including 17% who consider it very important, but only 9% benefit from this protection.
The report revealed some of the top reasons people avoid taking out a protection policy, including “I don’t have a mortgage” (38%) and “I can’t afford it” (35%). With policies starting from a couple of pounds a month, protection can cater to all budgets, while significant financial liabilities extend beyond mortgages. For example, it is vital to consider the impacts of lost earnings and how this might affect any dependants you have.
Worryingly, three in ten people aged 18 to 34 think they are “too young” for protection and are not seeing the truth about protection. Accidents can arrive unexpectedly, making protection a crucial part of financial wellbeing at any age. Moreover, premiums are generally based on your age and health condition, which can make taking a policy out at a younger age a shrewd financial decision.
Here to help
We can help you find a policy with the right level of protection for your unique needs. Our Insurance and protection fact file will help you consider the important things. Things which can be the difference between keeping and losing your home, and maintaining your family’s lifestyle. you can find out more Find out more in our Guide to Our Protection Services and watch our short video to learn more about why you need to protect your family and your home; start seeing the truth about protection
We aim to help you avoid unforeseen hardship by ensuring you and your family are well protected should the worst happen.
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