Life is full of the unexpected — and recent years have brought that into sharp focus. From health crises to job losses, many households have faced challenges that disrupted their income, affected their wellbeing, or placed pressure on their financial plans.

That may be one reason why demand for protection insurance is rising. New research shows that more people are recognising the value of having a financial safety net — especially during uncertain times.

Demand for protection is growing

According to a 2024 survey by the Association of Mortgage Intermediaries (AMI), almost a third of people (32%) now see protection insurance as a higher priority than they did just two years ago.* That’s a significant shift in public sentiment — especially given the cost of living pressures many households are currently managing.

More than half of respondents also said they would be more likely to consider protection if it was recommended by a financial adviser. That suggests there’s still a need for more education and support around what these policies cover, and how they can help.

Why protection matters

Protection insurance isn’t about predicting the future — it’s about preparing for it.

The right policy can help cover essential outgoings if you’re unable to work due to illness, injury or death. It can give loved ones financial support at the hardest time. And it can offer reassurance that, whatever happens, there’s something in place to soften the financial impact.

Depending on your circumstances, protection might include (but is not limited to):

• Life cover — to support your family if you pass away
• Critical illness cover — to provide a lump sum if you’re diagnosed with a serious illness
• Income protection — to help cover lost earnings if you’re off work for a period of time

These policies can make a big difference, especially for families with dependants, those with mortgages, or anyone whose household income would be significantly affected by time off work.

It’s not just about what you have — but what you keep

It’s easy to focus on building wealth — but protecting what you already have is just as important.

Without protection in place, a sudden change in health or income could mean dipping into savings, pausing investments, or delaying important life plans. Insurance isn’t a substitute for financial growth — but it’s a crucial part of financial resilience.

That’s why protection is often considered a foundation of good financial planning. It’s not always the most visible part of a portfolio, but it can play a vital role in keeping things on track.

Tailored cover makes the difference

Like most areas of financial planning, protection works best when it’s tailored to your needs. The amount of cover you need — and the right type of policy — will depend on your income, family situation, debts and wider financial goals.

That’s where advice can make a real difference. An adviser can help you:

• Understand what policies are available and what they cover
• Work out how much cover is appropriate
• Avoid common gaps or overlaps in protection
• Find value for money without compromising on peace of mind

Reassurance through uncertainty

No one can predict what life will bring. But having the right protection in place can help you feel more confident about the future — knowing that you’ve taken steps to protect the people and plans that matter most.

We’re here to help

If you’re not sure what protection you already have — or whether it’s still right for your needs — we can help. Our advisers can review your situation and recommend cover that supports your goals, your responsibilities, and your peace of mind.

Get in touch today for a clearer view of your protection needs.

*Ref: Association of Mortgage Intermediaries: https://www.a-m-i.org.uk/protectionviewpoint/