
"Whilst it’s encouraging to see financial confidence on the rise, our findings show that the right protection could further strengthen this sense of security."
- Mike Farrell, Protection Sales & Marketing Director at LV
Of those surveyed (2,720), over two-thirds (69%) said they feel financially resilient; roughly half of respondents claimed that protection products would further enhance their sense of resilience. Notably, 18% of employees now consider themselves to be very financially resilient – this is 4% higher than in 2023.
Amongst parents with young children, 77% felt secure (compared to 63% in 2022) and 79% reported that they feel more resilient than they were twelve months ago. LV believes these positive findings indicate a shift in outlook as people continue to successfully navigate external pressures, such as the cost-of-living crisis.
However, despite respondents recognising this key relationship between protection and financial resilience, 48% of employees don’t have a policy in place.
“This is a significant moment, and with increasing optimism, people are rethinking their financial priorities. Our research has revealed this as an ideal time for advisers to have meaningful conversations with their customers about the importance of protection,” explained Mike Farrell, Protection Sales & Marketing Director at LV.