Planning ahead is something we all do without thinking, from saving for holidays to who does the school run. Financial planning on the other hand can sometimes seem overwhelming or something to put off until tomorrow. Our new Deadline to Breadline research reveals that on average UK employees could be on the breadline in just 32 days if they lost their main source of income due to sickness, accidental injury or death.
Other key findings from the research include:
• More than a quarter (26%) of UK employees said that their current savings would last them just one week or less.
• Nearly one-quarter (23%) said they do not save any of their income each month, so for these people their ‘Deadline to Breadline’ could be tomorrow.
The research highlights the UK’s protection gap and the need for future planning with products such as Income Protection Benefit (IPB), which can play a vital role helping families to cope with the sudden loss of income.
You can help your clients maintain their lifestyle if the worse was to happen. We believe that to make protection more relevant to clients we need to make it personal. Our Deadline to Breadline calculator can show your clients their own potential situation, so you can help them decide how to help protect their financial security today.
