FTAdviser.com

Advertising

Despite Britons expecting the economic climate to worsen over the next 12 months, 69 per cent of an ABI survey's respondents said they would not consider taking out a protection insurance product.

A poll by the Association of British Insurers, conducted by YouGov, found that only 31 per cent of respondents thought they could cope financially with losing their job.

Nick Kirwan, assistant director of health and protection insurance for the ABI, said: "It is clear that we need to work harder to get the message across about the peace of mind and value that having the right protection insurance gives individuals and families. We recently published a consumer factsheet on protection insurance products. We hope this will encourage more people to consider protecting their most important financial assets - their income and their home."