New Legal & General research has found the value of protection continues to be low.
52% of those surveyed didn’t see the value of protecting their own life, income or family.
Meanwhile, only 12% would prioritise protecting their income.
L&G commissioned a UK wide survey of 2,000 consumers to understand their behaviour and attitudes towards buying protection.
As for the value of advice, 46% consumer where happy to buy protection without the need to consult an adviser. In fact, only 30% had ever spoken to an intermediary about protection.
Craig Brown, director of Legal & General Intermediary, said: “This research reinforcing the fact that protection is still undervalued and the benefits of speaking with an intermediary is not fully understood by consumers.
“That’s why we’re continuing our support for the Business Quality Awards as well as launching the ‘Hero in the Middle’ campaign, which aims to reward and recognise advisers who have gone above and beyond their role while demonstrating the value of protection to families. It’s part of our commitment to ‘champion the champions’ of the protection market.”
