Consumers may be missing out on protection because they don’t think individual policies will cover “everyday risks” like breaking a bone, new research suggests.
Nearly half of UK adults do not know whether protection will cover such events, a MetLife study of 1,000 people has found, and nearly 40 per cent think it will not pay out.
MetLife claims that around 600,000 broken bones are reported each year, and boys have a 30 per cent chance of breaking a bone before age 18, with standalone policies now developed to cover such risks.
Metlife head of individual protection Richard Horner says:”There is a clear need for policies which cover fractures. The risk of breaking bones is unfortunately a real one for many.
“Fractures can have a major impact on everyday life so it makes sense to have affordable cover which pays out and enables people to concentrate on getting better without having to worry about their finances.
“Advisers are the key to helping customers find products that meet their needs.”