"These factors have ultimately caused people to reflect on the challenges they faced, and priorities have shifted as a result."
- Mike Farrell, protection sales and marketing director at LV=
Of those surveyed (4,000), 17% of adults in the UK were worried that if they were to struggle with their mental health in the next five years they’d have to wait for the NHS to provide counselling or treatment, while 23% were concerned about the impact of mental health on annual leave, especially among women. Meanwhile, 37% of adults revealed that they’ve been exhausted during the last three months with 18-34 year olds remaining the most affected age group.
Since LV=’s Wealth and Wellbeing Research Programme began three years ago, there has been a recorded shift in financial goals in the UK. Key long-term trends across this period show that there has been an 11% increase in exhaustion, 44% of adults are focusing on their mental health post-pandemic and 20% of those aged 35-54 are less focused on their career.
During the pandemic, LV= recorded a spike in loneliness with roughly 30% of adults affected in March 2021. Although self-reported figures have decreased to 23%, the insurer has confirmed that social isolation is an ongoing issue in the UK.
Commenting on these findings, Mike Farrell, protection sales and marketing director at LV=, has said:
“The LV= Wealth and Wellbeing Research Programme has been active for three years now, capturing consumer attitudes during the pandemic and cost of living crisis. These factors have ultimately caused people to reflect on the challenges they faced, and priorities have shifted as a result.
“It is positive that more people are choosing to put their physical and mental health first, however as a society, we are still dealing with the effects of the pandemic. Having the right protection cover in place would help give people peace of mind if they were to experience a mental health event.”
