Income Protection Awareness Week takes place 22 to 26 September 2025, aiming to highlight the importance of protecting your income from illness or injury.
Income protection insurers paid out a total of £204m to policyholders in 2024. Unfortunately, many people still don’t understand the importance of insurance – a recent survey found that only 15% of young homeowners would consider themselves to ‘know a lot’ about income protection. This is concerning as 14% of 18 to 34-year-olds think they would immediately struggle to keep up with mortgage repayments if they were unable to work. Meanwhile, over half (57%) said they would experience financial difficulty after six months of losing their income.
The survey respondents were asked how they would cope with a sudden loss of income. Three in ten (29%) said they would try to take on additional work and 23% said they would reduce their savings or pension contributions. But all these options may be at the expense of their emotional or financial wellbeing.
Make sure you’re fully insured in Income Protection Awareness Week. Why not review your cover with us now, we’re happy to help.
As with all insurance policies, conditions and exclusions will apply. Your home may be repossessed if you do not keep up repayments on your mortgage.
Sources:
https://www.abi.org.uk/news/news-articles/2025/7/record-8bn-paid-out-in-vital-protection-claims-during-2024/
https://protectionreporter.co.uk/lifesearch-54-of-18-34-year-old-homeowners-claim-to-have-life-policies-but-majority-dont-know-about-ip.html
