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Many Overestimate Cost Of Cover

New research suggests that many UK adults significantly overestimate the cost of life insurance. 

According to a recent survey from L&G, respondents believe that life insurance typically costs £79.50 per month. In reality, the average policy was £27.95 in 2024, meaning that people are overestimating the cost of cover by an average of 184%. This substantial gap highlights the lack of public knowledge about the true price of insurance. 


Misconceptions about cost

The report revealed that the biggest barrier to insurance was the cost, with 27% believing that it is too expensive. But the findings suggests that many people may be basing their decisions on inaccurate assumptions. Perhaps if more UK adults knew the real cost of life insurance, they would feel confident enough to take out protection. 


The attitudes of different age groups

The research also highlighted differing opinions depending on age group and region. Brighton residents aged 45-54 were the most concerned about the price of life insurance. Younger adults shared similar worries; 18–24-year-olds also viewed life insurance as ‘too expensive’, despite this group being particularly engaged with their finances, reviewing them around 35 times a year on average. Motivation is also a barrier among younger generations, with 24% saying that they don’t have plans to take out life cover. Meanwhile, 13% of respondents said they ‘haven’t had time to look into it’.


Don’t wait for big milestones

Previous research from L&G found that many adults are waiting to reach key milestones before taking out products such as life insurance. However, with people getting married and buying houses later in life, many could be delaying having important conversations about financial security. 


Life insurance is not just applicable to those who have experienced a major life event. If you rent a property, have you considered how others in your household would keep up with payments if you were no longer around? Or if you have other dependents who rely on you financially, such as an unwell family member, it’s important to get cover.


Don’t put it off

Securing life insurance provides long-term peace of mind that your loved ones will be financially supported at a difficult time. It’s understandable that younger adults may not want to think about what will happen in the event of their death. However, getting protection now could result in cheaper premiums in the long run, as it is generally more expensive to take out a policy when you’re older. We can help you source a policy that fits your budget and meets your specific needs. 


As with all insurance policies, conditions and exclusions will apply. Your home may be repossessed if you do not keep up repayments on your mortgage


Sources:

https://protectionreporter.co.uk/uk-adults-overestimate-life-insurance-costs-by-184.html

29 January 2026

Homes rising in value

by Rebecca Geer • 21 May 2026
Recent research has found that half of UK homes increased in value last year. According to Zoopla, 15.2 million properties gained value by an average of £9,900 in 2025. Within this group, 3.1 million homes saw particularly strong growth, rising by more than £20,000. In contrast, 9.1 million households saw a decrease in value by an average of £10,800. In England, the North West recorded the highest proportion of homes rising in value (72%), followed by the North East (67%). The South West reported the largest share of homes losing value (46%), closely followed by the South East (44%). Despite some areas dropping in value, the longer-term picture is more positive for households across the UK; between 2020-2025, the average seller saw their house increase in value by an average of 20%. Source: https://business.zoopla.co.uk/half-of-all-uk-homes-gained-value-in-2025

Protection neglected when remortgaging

by Rebecca Geer • 19 May 2026
A survey has found that many homeowners don’t review their protection cover when remortgaging. Only 18.6% of respondents said they properly reviewed their protection when they remortgaged, while 64% did a cursory check and 17% did not review their cover at all. This suggests that many UK homeowners may have policies that no longer meet their needs due to changes in income, lifestyle and family circumstances. As a result, some households could find themselves in a vulnerable financial position if they were affected by death or illness. Take a moment to review your cover now – it could be a vital safety net in the future. As with all insurance policies, conditions and exclusions will apply. You may have to pay and early repayment charge to your existing lender if you remortgage Source: https://www.vitality.co.uk/media/speculation-of-spring-rate-cuts-drives-expected-remortgage-surge/

How to get the right protection cover

by Rebecca Geer • 14 May 2026
It’s important to ensure that you and your family have the right level of protection, without paying more than is necessary. Everyone is different and will require their own amount of protection cover to reflect their specific needs. It’s therefore strongly recommended that you work with a professional adviser like ourselves who can source a policy that is tailored to you. The cost of your protection will depend on a range of factors, including your health, the amount of cover required and the policy term. If you’re concerned about affording cover, it’s important to consider what is most important to protect. For example, life insurance is essential for families – it can give you peace of mind that your partner and children would be financially supported in the event of your death. However, someone who doesn’t have dependents might choose to prioritise income protection insurance, so they have a safety net if they are unable to work due to illness or injury. Circumstances can easily change, so it’s important to review your policy regularly. As your needs evolve, we can help you to adjust your policy accordingly. As with all insurance policies, conditions and exclusions will apply. Source: https://www.moneyhelper.org.uk/en/everyday-money/insurance/how-much-does-protection-insurance-cost

Property claims reach new highs

by Rebecca Geer • 12 May 2026
Insurers paid out a record amount in property claims last year, but the average cost of home insurance declined in Q4. According to the ABI, claims payouts reached new highs last year, costing home insurers a total of £6.1bn. This is mainly due to a rise in storm and flood damage, with weather-related claims accounting for £1.2bn of payouts in 2025 (14% more than the previous year). Within this, storm payouts totalled £244m, up 32% annually, with the average payout reaching £2,450. Despite this, the average price of home insurance declined by just over 1% in the final quarter of 2025. While this will be a relief for policyholders, premiums are still an average of £29 higher than in Q4 2023. As with all insurance policies, conditions and exclusions will apply Source: https://www.which.co.uk/news/article/whats-happening-to-home-insurance-premiums-a3EjJ5O6GVvP

What’s happening to the mortgage market?

by Rebecca Geer • 7 May 2026
The mortgage market is facing uncertainty due to ongoing developments in the Middle East. Affordability challenges had been easing slightly in recent months - mortgage rates were slowly coming down due to cuts to Bank Rate. In January 2026, the average monthly mortgage payment was 7% lower than the previous year. However, the recent outbreak of war in Iran has made the short-term outlook much more uncertain. At the start of March, 472 residential mortgage products were taken off the market within a 48-hour period, in response to rising swap rates. This trend continued throughout the month, with a fifth of overall mortgage deals removed from the market by 21 March. First-time buyers have been hit particularly badly – they may notice that rates are higher on low-deposit deals. Adam French at Moneyfacts commented, “It’s unwelcome news for borrowers, as the prospect of falling mortgage rates has quickly given way to rate rises. How far they could go is now heavily dependent on how global markets and inflation expectations evolve as conflict in the Middle East unfolds.” We can help you understand how the economic situation affects you and your mortgage – get in touch for support. Your home may be repossessed if you do not keep up repayments on your mortgage Sources: https://www.theguardian.com/business/2026/mar/23/uk-mortgage-interest-rates-markets-bank-of-england-iran-war https://www.bbc.co.uk/news/articles/c5y7gnkez3lo https://moneyfactscompare.co.uk/news/mortgages/impact-of-iran-war-on-mortgages/ https://moneyage.co.uk/472-mortgage-products-withdrawn-in-48-hours.php https://www.rightmove.co.uk/news/articles/property-news/average-monthly-mortgage-payment-down-january

📅 Bank of England Monetary Policy Committee (MPC) Meeting – Tomorrow, 30th April

by Rebecca Geer • 29 April 2026
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Insurance tips for movers and renovators

by Rebecca Geer • 28 April 2026
Moving home or renovating in 2026? Make sure you’re adequately covered. Before you move, it’s important to check the details of your home contents policy, as exclusions may apply to the removals process. For example, some insurers only cover belongings packed and moved by professionals. Additionally, your home insurance won’t automatically be applicable at your new address, so you will likely need to transfer the policy over (if allowed). Similarly, if you’re renovating your current home, it’s important to review your existing policies. If your project involves structural changes or new fixtures, you will likely need an extra layer of cover to ensure you’re sufficiently protected if something goes wrong. As with all insurance policies, conditions and exclusions will apply. Sources: https://www.moneysavingexpert.com/insurance/home-insurance/moving-to-new-home/#:~:text=You'll%20need%20to%20have,for%20longer%20than%2030%20days https://www.renovationplan.co.uk/news-and-insight/why-you-need-renovation-insurance-cover-in-2026/

Make protection a priority

by Rebecca Geer • 23 April 2026
A survey has revealed that homeowners are more likely to plan a new kitchen than seek out protection. Research found that respondents were more likely to spend money on new furniture (36%), redecorating (26%) or installing a new bathroom or kitchen (25%) than on taking out protection insurance, with only 15% saying it was a priority. However, many mortgage holders expressed concern about their financial security, with 62% saying they are worried they could lose their home if they became too ill to work. More than half (56%) admitted they would struggle to keep up with mortgage repayments after six months without an income. As with all insurance policies, conditions and exclusions will apply. Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://www.covermagazine.co.uk/news/4524648/protection-ranks-lowest-importance-homebuyers

Rethinking protection for longer lifespans

by Rebecca Geer • 21 April 2026
The average age of the population is getting older, which will likely change the type of protection people need in future. A report found that by 2050, 27% of people living in advanced economies will be over 65. As longevity increases, the demands placed on insurers - and on individuals - will evolve. Traditionally, protection products have focused on providing financial safety nets in the event of illness or death, often through income replacement. Longer lifespans mean cover may need to last longer and respond to more complex circumstances. People are working later, building assets over extended careers and supporting family members across multiple generations. There is also a growing need to consider later-life health risks and the potential cost of care. Protection is no longer just about replacing income for a limited period - it’s about safeguarding financial stability over decades. Regularly reviewing policies helps ensure cover remains appropriate as responsibilities, health and lifestyles change. As we live longer, protection must adapt - providing resilience, certainty and peace of mind for a longer, more unpredictable journey. As with all insurance policies, conditions and exclusions will apply. Sources: https://www.ftadviser.com/content/8284146a-0a97-4de6-8e8e-52eb26fe51df

Avoid these home insurance mistakes

by Rebecca Geer • 16 April 2026
Don’t accidentally invalidate your home insurance - here are the biggest mistakes that homeowners make and how to avoid them…

The UK’s fastest-rising house prices

by Rebecca Geer • 14 April 2026
Research from Rightmove has identified the UK towns that recorded the strongest house price growth last year. The list was largely dominated by towns in Scotland and the north of England. Hawick in the Scottish Borders saw the biggest annual rise, with prices increasing by 18% in 2025. Durham followed with a 15% increase, while Stannington in Sheffield saw prices grow by 12%. Across the 50 locations with the fastest-growing house prices, the average property value was £270,711, 26% lower than the national average of £368,031. In fact, 43 of the 50 fastest-growing towns had prices below the national average. This emphasises the growing trend that more affordable areas are experiencing the strongest price growth. Your home may be repossessed if you do not keep up repayments on your mortgage. Sources: https://www.thisismoney.co.uk/money/mortgageshome/article-15501709/Rightmove-names-25-towns-saw-biggest-house-price-rises-2025.html

Life Insurance myths busted

by Rebecca Geer • 9 April 2026
Are you fully informed about life insurance? Here are some myths that still catch people out.