A lack of consumer awareness continues to hold back the protection market with around seven in 10 people saying they have not seen or heard anything about income protection or critical illness cover in the past year, according to new research from CIExpert.

The study, Critical Thinking 2026, based on a survey of 10,000 consumers and advisers, suggests misunderstanding remains widespread despite increased industry focus on closing the protection gap.

The report, sponsored by Royal London and Guardian and supported by Aviva, Legal & General, Vitality and Zurich, found little change since the previous study in 2024, when similar levels of consumer disengagement were recorded.

MISCONCEPTIONS

Where consumers do have views on protection products, these are often based on incorrect assumptions rather than informed decisions.

More than a quarter of respondents said they had ruled out critical illness cover because they did not have a mortgage, even though only 8% said they would use a payout primarily to repay home borrowing. Most said they would instead use the money to replace income, cover household bills or meet healthcare costs.

Income protection faces similar misconceptions. A quarter of consumers believe the cover is only relevant to self-employed people or those without sick pay, while nearly one in five think employer sick pay removes the need for protection altogether.

Yet only 22% of respondents said they knew how long their employer would continue paying them if they were unable to work.

CHANGED ATTITUDES

The research suggests attitudes can change when products are explained more clearly. After being given information about the limits of sick pay and the role of income protection, 43% of consumers said the cover felt more relevant, rising to more than 60% among Gen Z and millennials.

Younger consumers were also more open to enhanced cover and additional services when these were presented in practical terms.

More than half of Gen Z and millennials said they would consider paying extra for added benefits such as specialist treatment support or access to advanced cancer care.

NHS CONCERNS

Concerns about NHS waiting times were cited as the biggest healthcare worry by 36% of respondents, increasing to 45% among older consumers. One in three said they would be more likely to buy critical illness cover if a policy paid out when they were placed on a waiting list for treatment.

Alan Lakey, director at CIExpert, said the findings showed the industry still struggled to communicate the purpose of protection products.

He added: “Seven in 10 consumers have not seen or heard a thing about critical illness cover or income protection in the last year. That gap between what we think we’re communicating and what people are actually hearing should be uncomfortable reading for everyone in this market.

“Consumers aren’t rejecting these products – they simply don’t know they exist, or they’ve built up assumptions that nobody has yet challenged.

“When advisers explain these products clearly and connect them to real life, attitudes shift. The evidence shows we know what works, but the challenge is doing it at scale.”

Read more from Alan Lakey HERE.