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Talk Money Week – Met Life’s Rich Horner tells us why protection should be top of the list

This week, as we celebrate Talk Money Week (4th – 8th November), it’s an opportunity for everyone to get involved with events and activities across the UK which help people have more open conversations about their money. This year, the theme of Talk Money Week is to encourage people to Do One Thing that could help improve financial wellbeing.

MetLife UK’s Everyday Risk Report has found:

  • Falls, trips and bumps make up the largest proportion of accident admissions at 34.6%, a total sum of 453,004 
  • Over half (56%) of UK adults have sustained an injury from an accident, so it’s clear that life is unpredictable.
  • Everyday accidents, illnesses and unexpected events can happen to anyone and can lead to significant financial consequences costing UK adults more than £800.So if you are going to do one thing, make sure you’re protected. Cover like MetLife’s Everyday Protect is simple and affordable and can provide you with financial support and peace of mind in the case of an accident or illness.
  • The number of people who are not financially protected should they become unwell or have an accident, found that everyday misfortunes could be costing Brits more than £1,200 in their finances if they had to take time off work to care for themselves after sustaining an injury.
  • 15% of UK adults needed or would need £1,500 or more to make ends meet. 52% admit they’d need financial support if they had no choice but to take time off work due to an accident.
  • That there’s still a knowledge gap on what the right type of cover is for their needs. 31% of advisers confirmed their clients had taken out the wrong type of protection before seeking advice, while 29% say that most customers have little understanding of the kinds of protection products available for them, with a quarter (25%) often not understanding the difference in financial protection offerings.

Rich Horner, Head of Individual Protection at MetLife UK commented:  “People don’t always think they need financial protection, or that life insurance does enough to protect themselves and their families. Our latest research shows that people really do need support protecting their everyday life. Accidents are frequent, but those mishaps can have a significant financial impact. That’s why people need to think about the cover they have in place and make sure they have affordable financial support to cover injuries from broken bones to those that could have a significant impact on lives. If you’re going to do one thing, make sure you’re protected so you don’t rely on your savings when the unexpected happens.”

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