The role of protection in building financial resilience

Reaching Resilience

Reaching Resilience is our new 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 16 August - 1 September 2022.
Read the latest report

What does financial resilience mean to consumers?

Financial resilience is all about the ability to cope with an unexpected change to finances, like a temporary loss in income. Essentially, it’s about whether bills can continue to be paid, food put on the table and whether we can continue to support our loved ones. Our first Reaching Resilience report explores how prepared UK workers are should the unexpected happen, and whether these plans are realistic.

Of all UK workers surveyed...

45% would rely on their savings

if they were unable to work due to illness or injury.

Over 1 in 4 don't have Income Protection

at current, but would like to have it.

54% would feel more financially resilient

if they had insurance that pays a lump sum of money if they suffered a serious illness.

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.