Think twice before cancelling protection insurance

The pandemic has shown us that unexpected events can strike at any time and highlights the need for protection insurance to keep us afloat during times of financial hardship.

A YouGov* survey about the pandemic revealed that nearly a third (32%) of Britons fear for their future. Payouts from life insurance, critical illness and income protection can help lessen the financial impact of unexpected events. Data from the Association of British Insurers shows that a record amount of over £5.7bn was paid out in protection claims in 2019, showing that more and more people are relying on this type of cover for support in difficult times.

If you are reviewing your finances to try and reduce outgoings, critical illness and income protection should certainly not be on the list of expenditure to cut as such policies can be a lifeline if you were to lose your job or become ill for an extended period.

We are here to help with any questions you have about existing protection policies or if you are considering new ones. We will help ensure your protection needs are covered.

*YouGov, 2020