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Over a third of first-time buyers don't recall receiving protection advice alongside their mortgage

22/09/2026
PROTECTION

More than four in ten UK workers (43%) have no form of protection in place, despite over half (52%) saying protection that would cover their monthly outgoings if they couldn’t work would make them feel more financially resilient.

Research from investment, protection and retirement specialist, LV= has found significant income protection gaps among first-time buyers, self-employed workers and blended families, revealing many could find themselves financially exposed should illness or injury prevent them from working.

To support Income Protection Action Week (IPAW) 2026, organised by the Income Protection Task Force (IPTF), LV= is using insights from its latest Reaching Resilience Report* to highlight the important role advisers can play in helping clients build greater financial resilience through Income Protection.

Among first-time buyers, 37% said they did not recall receiving protection advice alongside mortgage conversations with a financial adviser or broker, despite over half (52%) needing both household incomes to meet their monthly outgoings. Additionally, over a quarter of first-time buyers are not confident they would be able to cope financially if they were to experience the loss of an income due to illness or injury.  

"We’re proud to support the IPTF this week to highlight the importance of Income Protection. Our latest research shows that 49% of UK households would only be able to cope financially for up to three months without an income. With the average LV= Income Protection claim lasting almost six years, this highlights how vulnerable most would be to an income shock, and the role Income Protection plays in building financial resilience.

"While the findings are particularly striking among first-time buyers, self-employed workers and blended families, these challenges are not unique to those groups. Income Protection Action Week is an important opportunity for the industry to help more people understand their risks, protect their income and build greater financial resilience for the future."

 

Mike FarrellLV= Protection Sales and Marketing Director

A clear protection gap exists among self-employed workers. According to LV’s data, nearly a quarter of those without Income Protection say that they would like to take out cover, yet just one in ten currently hold a policy. Almost one in five also admitted that they would need to continue working through illness or injury to make ends meet if they were unable to work.

The research also highlights the challenges facing blended families. Two thirds of blended families with younger children could only live for up to three months without an income, while 30% would need to rely on money from someone else if illness or injury were to prevent them from working. On average, their income supports five people, reinforcing the potential impact a loss of earnings could have on wider family finances.

 

"Too many people remain one illness or injury away from financial difficulty. LV's findings demonstrate why Income Protection remains such an important part of financial planning and supports the work that we are doing at IPTF through IPAW and other initiatives. While awareness is improving, there is still a significant gap between recognising the value of protection and taking action.

"Income Protection Action Week provides an important opportunity for advisers to close that gap by helping more clients understand how they would cope if their income stopped."

Jo MillerIPTF Managing Director

LV= supports advisers through a comprehensive range of protection products, alongside practical tools, resources and consumer insight designed to help make protection conversations more relevant and engaging. Its annual Reaching Resilience research explores the financial resilience of the UK's working population and the role protection can play in helping households prepare for unexpected life events.

Income Protection policies are subject to underwriting, eligibility criteria, policy terms and exclusions. Individuals should consider whether this type of cover is suitable for their personal circumstances and needs.

 

Notes to Editors

  • For more information on the Reaching Resilience report or LV’s protection solutions, please visit our personal protection page. 
  • The data used in our Reaching Resilience research is from a survey of 2,567 nationally representative UK workers conducted for LV= by Opinium between 28 October 2025 and 7 November 2025.