More than two-fifths of the UK population would not have adequate cover or savings if the main wage earner were to lose their job, according to research by MORI on behalf of Scottish Provident.
The survey of families found that 41% of respondents would not have adequate protection insurance, savings or assets, to fall back on if the main wage earner became unemployed, while 76% dream of a life without any financial worries.
In response to the research, the insurer has designed a sales tool for intermediaries in the form of an annual company report called Families Inc, which details the finances of an average British family. Scottish Provident’s Nick Kirwan said: “There are still major opportunities to sell protection products and Families Inc will help the sales process. Intermediaries can play a big role in helping to raise awareness of protection products.”