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Poll finds mobile cover a higher priority than income protection

Britons admit to having inadequate protection in case of sickness or loss of income but are unwilling to take advice to rectify the problem, according to a survey by protection provider Bright Grey.

The research shows that twice as many people would take out holiday insurance than would take out critical-illness insurance and a third more would insure a holiday than get income protection insurance.

In the 16-24-year-old category, respondents felt mobile phone insurance was three times more important than income protection. Only18 per cent of 35-44-year-olds would consider taking out critical-illness insurance as being important compared with 15 per cent of 45-54-year-olds and 8.4 per cent of respondents aged 55 and over.

Twenty per cent of the 1,753 respondents believe they would need between £10,000 and £15,000 a year to maintain their lifestyle but 70 per cent of all respondents admit they do not have an insurance product if income was stopped due to ill health or unemployment.

The research reveals 48 per cent believe they cannot afford the premiums for life protection and 40 per cent do not trust the insurance industry.

Eighty-six per cent would not be likely to review their protection or insurance needs with an adviser after being questioned in the survey.

Bright Grey communications manager Mark Locke says: “Even though there is confusion, there is an admission of being under-protected. People are confused as to what is out there and there is a mistrust of the industry and people just do not want to think of the worst happening to them.”


Arlington makes fund debut

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Which? hunt

A mystery shopping spree by Consumers&#39 Association magazine Which? claims that only three out of 39 advisers surveyed gave acceptable advice. It alleges that brokers and lenders are unclear about their obligations under the mortgage code and the sale of insurance is often pushed heavily even before providing advice on the mortgage. It claims that […]

Millfield and Inter-Alliance receive FSA approval for merger

Millfield Group has today received final approval from the FSA for its merger with Inter-Alliance. As set out in the offer document, Steven Hartley and Alan Curtis are resigning from the board and will leave the company today.

DWS switches Euro opps manager

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Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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