If you have a mortgage and no protection in place, you’re taking a bigger risk than you might realise.
New research from the Financial Conduct Authority shows that most people still aren’t engaging with protection at all, and many simply don’t understand what they’re missing. (source)
The Risk Most People Are Ignoring
Only 36% of mortgage holders have protection
58% of people aren’t engaging with it at all
That means millions of households could struggle to:
Pay the mortgage
Cover bills
Support their family
…if illness, injury, or worse happens.
The Dangerous Assumption
“I’ll sort it later.”
“It’s probably too expensive.”
“I don’t really get it.”
These are the exact reasons people go without cover, and they’re exactly why people get caught out.
Here’s the reality:
People who do take out protection usually say it’s good value
The biggest issue isn’t cost, it’s lack of understanding
This Is Where It Goes Wrong
Most people are:
Relying on Google
Skimming comparison sites
Or avoiding the decision altogether
But protection isn’t something you should “figure out” on your own.
It’s not just about buying a policy, it’s about:
Getting the right type of cover
Understanding what actually pays out
Making sure it fits your life
The Key Message: Ask for Advice
This is where too many people go wrong.
Less than half of recent buyers used an adviser, and it shows.
A good adviser will:
Explain things in plain English
Show you what you actually need (and what you don’t)
Put the cost into real context
Help you avoid costly mistakes
Without that? You’re guessing.
A Simple Way to Think About It
You already commit a large chunk of your income to your mortgage every month.
The question is:
What protects that commitment?
Because if the answer is “nothing,” that’s a financial risk worth paying attention to.
The Bottom Line
This isn’t about scare tactics, it’s about being realistic.
Life happens
Income can stop
Costs don’t
And hoping for the best isn’t a plan.
If you don’t fully understand your options, don’t ignore it.
Ask for advice. The H D Consultants team of life isurance advisers are here to help. Contact Us
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