Health consciousness encourages take-up of protection policies

Life doesn’t always turn out as we’d hoped or planned. Almost 100 children suffer the loss of a parent every day in Britain. There are nearly 160,000 deaths from heart disease each year in the UK – an average of 435 people each day. In 2016, there were more than 163,000 deaths from cancer.

Tailored policies

Policies can pay out lump sums or provide an income to ease the financial burden at a difficult time. Cover can be arranged to suit your age and lifestyle, for a term that meets your family’s needs. Cover can be combined to include, for example, critical illness insurance and death benefits within the same policy.

More concern over health issues 

It seems that the message that it’s important to have the right type of protection policy in place is increasingly being listened to. In the first six months of this year, financial software company IRESS, recognised a positive trend in the sale of protection products. There was an overall increase of 35.1% in the take-up of term life insurance and income protection policies, through their software1, compared with the first half of 2017.

Insurers believe that this rise is due in part to greater health consciousness, and a better understanding of the part that protection policies can play in keeping a roof over a family’s head, ensuring that household bills can still be paid if death or illness were to strike. If you’d like advice on choosing the right insurance cover for your needs, do get in touch. 

1 IRESS, 2018