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Protection insurance is "under-prioritised"
16 April 2008
An insurance expert has claimed that income protection cover is not seen as a priority by consumers.
Joe Wiggins, the PR manager for protection at Legal & General, said that this type of insurance was not always seen as important - with items such as cars and mobile phones taking priority.
"Protection insurance tends to be under-prioritised in general, in fact we estimate that more people have mobile phone insurance than critical illness cover and income protection, which seems misguided," Mr Wiggins said.
While taking out protection insurance is not a legal requirement, many insurance experts recommend it as it can help you to pay the mortgage should you become too ill to work.
Research carried out in 2006 by the Association of British Insurers shows that just 20 per cent of households bother to take out income protection insurance.
Protection insurance sees those with a cover plan who are unable to work paid a monthly tax-free sum until they can return to employment or retire. 
