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The role of protection in building financial resilience

Reaching Resilience

Reaching Resilience is our protection focused research that explores financial resilience among consumers. The data used in this report comes from a survey of 4,000 nationally representative UK adults conducted for LV= by Opinium between 23 November – 3 December 2023.
Read the latest report

How financially resilient is the working population?

Our second report explores how financially resilient workers consider themselves to be and delves into what their plan B would be if they couldn’t work due to illness or injury. Throughout we look at key client types you might come across such as first-time buyers, families and the self-employed and look at their specific concerns. We’ve shared plenty of insights on how you can use this research to position protection with your clients and have more effective conversations.

Of all UK workers surveyed...

3 people

the number the average income supports.

Almost 50%

say they’d rely on savings if they couldn’t work, but 4 in 10 don’t have the suggested 3 months average outgoings in savings.*

Over half

would feel more financially resilient with income protection or critical illness cover in place.

*Average recommended outgoings is based on data from our LV= Wealth and Wellbeing Research – June 2023. Moneyhelper suggest a good rule of thumb is to have 3 months of outgoings in savings.

Why is Reaching Resilience important to advisers?

Advisers are uniquely positioned to communicate the value of protection in building financial resilience.

We believe understanding your clients is key to delivering the right advice, and ultimately ensuring that more lives are protected. In Reaching Resilience we highlight how you can turn these insights into opportunities to engage with your clients.