Unlike homeowners, renters don’t realise they may need financial protection. Research from Sainsbury’s Bank recently revealed that only a quarter of renters (26%) are likely to have life insurance or critical illness cover, compared to almost half of homeowners (41%).

The study also found that 54% of renters are more concerned than homeowners (48%) about their financial situation should they pass away, with 21% of renters worrying about this on a weekly basis compared to 16% of homeowners(1).

When you consider renters plough 40% of their income into covering household costs, double what an owner-occupier would pay (19%), protecting their rental payments is more important than ever(2).

Our plan is designed to provide a regular monthly benefit in the event of a valid claim, which could be used to help pay the rent.

We’re here to help.

To learn more about how our Rental Protection Plan could support your clients, enrol in our webinar here.