Insurance to rescue inyour uncertainties!
With persistence of economic uncertainty, feels convenient to cancel protection. Important is maintaining adequate coverage that’s crucial to avoid greater expenses down the line.

Hiking cancellation rates
Research suggests that 26% of workers ended an insurance policy last year, with financial
pressures cited as the main reason1. The proportion of people who ended their
cover due to higher living costs increased from 4% to 7% when compared with
2022. The report has also indicated that consumer focus has shifted when it
comes to insurance. Demand for private health solutions and cash plans has
increased, but essential protections like, life insurance and income protection
remain critical.
Life insurance is valuable
If you have a job that provides you with a death-in-service benefit, that doesn’t mean your life
cover is superfluous – if you lost your job, you would lose that safety
blanket, too. While other payments may be rising due to high inflation, the
cost of your existing life insurance is guaranteed to stay the same. But if you
cancel your policy, you will go back to square one as life insurance premiums
generally cost more the older you are when you take it out. Read More
Role Income protection
How would you fund your living costs if you were signed off work for an extended period of
time? If you are unsure, the security offered by income protection should be
considered. It serves a different purpose to critical illness cover, which
normally pays out a lump sum in the event of specific illnesses. Income
protection, on the other hand, will support you financially if you are unable
to work due to any injury or illness. The cover will replace your earnings
until you are well enough to return.
Get through to your policies
24% of those who cancelled an insurance policy last year did so because they had never made a
claim. But you don’t always have to make a claim in order to benefit from
having protection. Many insurers include free advantages that you can benefit
from now, however only 49% of UK workers were aware of those additional perks.
For example, some insurers provide access to wellbeing support, discounted
health checks and gym memberships.
Make it work for you
Affordability remains a top priority for many, and we can work with you to tailor your
protection effectively. 40% of people said that affordability was a priority when
choosing an insurance policy, so we can work with you to find the right level
of cover at a price you’re happy with.
As with all insurance policies, conditions and exclusions will apply.