Bridging the Protection Gap

Aegon UK have carried out a survey of 500 households, attempting to identify the barriers which are stopping people from buying protection policies.

According to the findings, four key areas have been identified as potential problems - price, complicated products, complex application process and a lack of confidence that claims will be paid.

Just over a third of respondents already had protection policies in place, however a further 35% would consider taking out a policy - however the main barrier to them purchasing a policy is price with 66% saying that they felt protection policies were too expensive.

A further 41% thought that the process was a minefield, and too much small print made applying for a protection policy too complicated. 

Read the full article via the Financial Reporter

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