But a lack of advisers selling insurance products, compared with 30 years ago; a persistent - and erroneous - belief claims will not be paid; and a lack of education and engagement has created a large protection gap.
This so-called protection gap in the UK has been estimated to be at more than £2.5trn by reinsurer Swiss Re.
Making existing clients aware of the need to protect the wealth they have accumulated is one step forward in getting more households covered against the prospect of the breadwinner becoming ill, unemployed or even dying.
However, more needs to be done to make the general public aware of the need for a good protection policy, and the fact insurers will pay out.
For example, the Association of British Insurers has revealed UK insurers paid out more than £5bn for protection claims in 2015.
This guide aims to investigate what has contributed to the protection gap, what sort of promotions and campaigns can work to spread the word about the need for cover, how social media could be a better medium than television advertising and what advisers themselves can do.
Contributors include: Alan Lakey, founder of CI Expert; Phil Jeynes, head of sales and marketing for UnderwriteMe; Emma Thomson, head of customer care for LifeSearch; Andy Nicholls, mortgage and insurance specialist for Beaufort Asset Management; David Pugh, managing partner of Lemonade Reward; Denise Wond, marketing manager for Royal London; Kesh Thukaram, director of Best Insurance; the Association of British Insurers; Royal London; Nicola Mohns, head of intermediary marketing for Axa PPP; Steve Bryan, director of intermediary for Legal & General; Kelly Thomas, head of marketing at Vitality Life; Katharine Moxham, spokesman for Grid; Peter le Beau, founder of Le Beau Visage; Paul Avis, marketing director for Canada Life Group Insurance; and Toni Smith, sales operational director for First Complete.