Legal and General  

Protection provider targets renters 

Sebastian Riemann, financial consultant at Libra Financial Planning, agreed but said targeting renters didn't necessarily need an influx of new products in an already saturated market space.

He said: "It's great to raise awareness that protection is for everyone, including renters, but I'm not sure a new potentially confusing product range is the right way to go."

Providing protection to the private rental market was discussed in Swiss Re’s latest Health & Term Watch report, where many survey respondents felt there needed to be a move away from ‘mortgage cover’ to ‘housing cover’.

The Building Resilient Households Group will be making a case for all households to consider buying protection, not just mortgage holders, and respondents to Swiss Re's survey agreed.

One provider said: "All working families could insure against the gap arising due to being off work sick, rather than just those who own their own homes with a mortgage."

Another thought "clearer messaging" to show the "value of protection to protect rent as well as mortgages" was needed.

imogen.tew@ft.com

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