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Scottish Widows UK Protection Reports
Nobody knows what’s around the corner, which is why planning for the unexpected is so important. Any one of us could fall ill, suffer a serious accident or experience bereavement, but clearly we all hope this won’t happen to us, our family or our dependants. However, unfortunate as it may be, these unwanted and unforeseen events do happen, and they can have financial implications.
The Scottish Widows’ Protection report explores the attitudes and behaviours of UK adults to try to understand:
- to what extent they are protecting themselves,
- how realistic their financial plans for the future are, and
- what will happen if something doesn’t go as planned.
2006 - Scottish Widows UK Protection Report 2006 (pdf 206kb)
Key findings
The financials:
- Over half of Brits have less than two months’ salary in savings
- 43% of households have debt (excluding mortgage) of £2,000 or more
The research highlights the following groups as being inadequately covered:
- Household income over £20,000 a year - 62% of UK population
- Savings less than £30,000 - 87% of UK population
- Families – especially those with two or more children
- Those with a mortgage – the higher the mortgage the bigger the gap
