“As energy prices and day-to-day living costs are rising, people are looking at ways to rein in their spending. Many are considering cancelling insurance policies, but it is important that they understand the value of protection generally and specifically the benefits that income protection provides.
“Statutory sick pay, for example, amounts to just £99.35 a week and groups that are vulnerable to financial hardship, such as renters or self-employed workers, would struggle financially if accident or illness prevents them working.
“People may question if they can afford protection, but it offers huge benefits and the financial impact of a serious illness or accident can be devastating.
“LV= offers payment breaks*** for the most vulnerable people who are struggling to pay protection premiums and we can work with advisers to help clients retain their cover.”