A recent poll by YouGov has pointed to the exigency for protection, with just 15pc of respondents claiming they would not be severely affected if their financial circumstances change for the worse due to long term illness or incapacity.
Commissioned for Financial Planning Week, the research mirrored the findings in Defaqto's report 'Critical time for critical decisions' published earlier this year, which cited the current mortgage decline and the tendency for IFAs to focus on wealth management propositions over protection products as contributing to the lack of critical illness cover. 30pc of participants admitted they would constantly struggle should their circumstances change for the worse due to long-term illness whilst 48pc felt they would struggle occasionally. Steve Gazzard, operations director at The Institute o...
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