Only one in four people believe they are adequately protected if they lose the main income from their household, according to a report by Scottish Widows.
The research of 4,722 people aged over 18 says the nation is “dramatically under-prepared” for the loss of a breadwinner’s income through either death or illness. Despite many women wanting to move back to being ‘stay at home’ mothers, the report reveals this is not possible for over 10 million households in the UK, which are dependent on two or more salaries to maintain an acceptable standard of living. Three out of 10 respondents believe they would be okay in the short term if they lose the main income from their household and four out of ten say they would be in trouble. The report...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
