How protection can help in tough times
You can’t always predict or control what’s happening in the world – or the impact it could have on your finances.
Many of us are carefully watching our budgets, looking for ways to save without sacrificing what matters most to our families. We understand that when times are tough making the right financial decisions is more important than ever.
Our financial resilience research shows that nearly everyone makes changes to their spending habits to cope with rising costs. In fact, 41% of people told us that the current costs of essential bills being too high has meant they can't afford to add more to their savings. Which shows just how challenging it can be to balance everyday expenses and plan for the future.
Worryingly, over 20% of people said they'd only be able to pay bills and day-to-day living costs for up to three months if they or their partner was unable to work due to illness. Showing how important it is to have a financial safety net in place, which can give you peace of mind if something unexpected happens.
We know that paying for protection might feel like an extra expense, especially if you’re not sure when you’ll need it. But reviewing your monthly spending and making sure your protection plans are still right for you can help you stay prepared, without stretching your budget too far.
If you’re thinking about cancelling your policy, it’s worth considering the risks. Losing cover could leave you and your loved ones vulnerable if something were to happen. Keeping your protection in place means you’re safeguarding what matters most.
So, how can we help you see the true value of protection, especially in difficult times?
For existing customers, it’s important to remember how your policy will support you if you ever need to claim. Whether you took out cover to protect your home, your family, or your lifestyle, that need hasn’t changed. In fact, during uncertain times, you may feel even more at risk. A quick reminder of how your policy can help you financially can make all the difference in recognising its importance and keeping your cover active.
If you’re considering cover for your lifestyle, it’s about thinking what matters most right now. Some people want the reassurance that, should anything happen, their family can still enjoy hobbies, holidays, and the occasional meal out. Others, who feel the pinch more each month, simply want to know their essential needs like rent, mortgage, and bills are protected. Whatever your priorities, we’re here to help you find the right balance, so you feel confident and secure -no matter what comes your way.
Contact your financial adviser if you are still considering cancelling your policy. You can also contact us on 0345 602 1885 or visit our contact us page.
Source: Financial Resilience Report 2025, Published March 2025, YouGov surveyed 4,003 UK adults in February & March 2025.
