New research shows that a quarter of consumers lack confidence in their family’s financial resilience. Specifically, a survey by The Exeter highlights this issue. Nearly a quarter (23%) of UK adults doubt their family could manage financially if they died unexpectedly. Just over a third (35%) think their family could only cope temporarily. However, only 22% feel certain that insurance protects their loved ones if the worst happens.
Age and Gender Differences in Financial Security
The research highlighted a clear gap in confidence between the genders. For instance, men feel significantly more confident (67%) about family resilience than women (49%).
There is a noticeable generational difference too. In particular, those aged 45-54 feel the least assured. A third of this age group doubts their family’s long-term financial safety. This pressure heavily impacts the ‘sandwich generation.’ These middle-aged adults must care for both their children and their ageing parents at the same time.
Simple Steps to Boost Your Confidence
How confident do you feel about your own family’s protection? With the right strategy, you can feel certain about the future. The correct insurance gives your loved ones the support they need when you are gone.
Therefore, finding the right plan should be your top priority. Fortunately, navigating these choices is simple. You can easily discover your options by reviewing our core Mortgages solutions. Alternatively, speak directly to an expert adviser on our Mortgage Advice page to build a lasting financial safety net.
Building Long-Term Protection
When designing a protection plan, you should look at comprehensive options. Life insurance can clear your outstanding home debts entirely. Meanwhile, income protection covers your monthly bills if a sudden illness stops you from working. Making these choices early gives your family complete peace of mind.
Key Information:
- Policy terms: Conditions and exclusions apply to all insurance policies.
Read the full study findings via The Exeter News Report.
