Life and Critical Illness Bulletin: Half of women unprotected
22nd March, 2017
Aegon’s “Protection Matters” survey asked over 2,000 working women about their level of cover. This revealed that nearly half had no protection in place, with 10% of those that did have cover receiving it automatically through their employer.
15% of those surveyed said that they had taken out protection through recommendations from either their mortgage adviser or a financial adviser. This highlights the important role that advisers play in protecting the nation, as well as suggesting that not enough is being done to educate those that have not had the chance to talk to an adviser in their working lives.
The results also showed a worrying trend of not prioritising protection to ensure financial stability against worst case scenarios. Over half of those asked admitted that they were the main breadwinner in the family. Aegon said that they believe this would in most cases put significant pressure on their loved ones financially or on savings in general.
Talks break down on big merger
Just over a year ago one of the biggest mergers the protection industry had seen between Friends Life and Aviva took place, creating Aviva’s Protect+ range of products. Since then experts have been watching for a possible similar move between two more leading providers: LV= and fellow mutual Royal London.
But now reports are suggesting that talks between the two protection giants have broken down and been “aborted”, possibly during disagreement over the structure of the deal. Despite this however, spokespersons from the providers have not confirmed this and simply declined to comment on the matter.
A big month for Cancer awareness
March is an important month for Cancer awareness. With Prostate Cancer, Ovarian Cancer and Brain Tumour awareness campaigns all running this month, leading provider Scottish Widows has taken the opportunity to highlight just how important having good cover in place is.
One of the most important facts they wish to emphasise is the general lack of protection in the UK, with millions of Britons without the necessary cover to protect themselves against worst case scenarios. In these times of emotional stress, insurance can provide a real financial boost to help alleviate concerns, both financial and medical.
Research from Scottish Widows revealed that despite a fifth of the population admitting that their household would not be financially secure if the main breadwinner was to be unable to work, only a third had life insurance and a surprising one in ten had any form of critical illness cover.
Organising protection for you and your loved ones is an important step in securing your future. Talk to us today on 0800 024 8685 for advice or browse our quotes page.