Advisers `needed to help bridge income protection gap`

UK consumers are reluctant to take out income protection policies, potentially putting themselves at risk of financial problems - such as high level debt - if they lose their jobs.

This is according to Zurich, which suggests that people need help from advisers concerning the issue.

Research conducted by the organisation found that four out of ten Britons believe income protection policies are too expensive.

It addition, far less than half (33 per cent) were prepared to reduce their monthly outgoings in order to fund some form of mortgage or family protection.

"As household budgets become more stretched, protection may seem less of a priority for some. Yet in the current climate, it`s more important than ever that people seek financial advice to help ensure they have appropriate cover in place," stated Peter Hamilton, Zurich UK Life`s protection development director.

Recently, Zurich published research which suggested that 70 per cent of single consumers have never sought advice from an independent financial adviser.

Tags: income protection

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