State of the Protection Nation

Does everyone need protection? Are the products available suitable for their needs?
We commissioned our State of the Protection Nation research to find out how people felt about their own protection needs and the industry as a whole.

State of the Protection Nation report

Download our full report to find out how people feel about their protection needs.

Welcome to our first State of the Protection Nation report. We’ve analysed the results and compiled our findings.

The report confirms some of the things we already know but there are also some surprising contradictions in the results as you’ll see.

Adviser confidence level of 60.75

Advisers have a confidence level of 60.75 out of 100. This ranking focuses on advisers’ perceived relevance of protection products and their ability to meet, or adapt to, consumers' needs.

On top of the qualitative research we carried out (2,000 nationally representative UK adults aged over 18), we also attributed scores to the questions asked. This gave us an overall score that we are calling the State of the Protection Nation Index.

The index rankings suggest that advisers are more confident in protection products than consumers.  However, we hope that as each year passes, this score will rise and we’ll begin to see an improving trend emerging.

Regional variations

Consumer confidence level of 53.2

The index finds that consumers have a confidence level of 53.2 out of 100. This ranking focuses on consumers’ awareness, usage and confidence of protection products.

The cost of protection is the main reason for not having cover for all types of insurance across each of the regions, except for people in Scotland who stated they don’t see the benefit of having life insurance (27%) as a bigger barrier to purchase than the cost (26%).

This is reflected in how much each protection product is seen in terms of need, with those in London and Wales seeing the greatest need for income protection (both 13%), along with those in Northern Ireland (15%), yet Londoners are least likely to think they need life insurance (22%). South West sees the least need for each of the insurance products.

The full picture of how much products are needed is shown below:

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