| Rents across Britain have hit record highs, now consuming 44% of the average wage | People overestimate the cost of life insurance, leading them to delay taking out protection | Many manual workers are missing out on protection despite the risk of workplace accidents |
Recent data1 shows that rents across Britain have hit record highs. The average advertised rent in London has risen to £2,736 per month, up 1.6% from 2024, while rents outside the capital now average £1,385 a month, a 3.1% increase, which is the smallest annual rise since 2020. Despite slower growth, tenants face continued pressure, with rents now consuming 44% of the average wage.
A recent survey2 reveals that people overestimate the cost of life insurance by 184%, guessing an average monthly premium of £79.50 – while the actual average policy is just £27.95. This misperception leads many to delay protection until major life events like marriage or homeownership, even if those milestones occur later or not at all.
Over a quarter of respondents said cost is their main barrier, illustrating a major disconnect between perceived and real affordability.
A survey3 of 5,000 UK adults has uncovered a stark protection gap – while nearly a quarter of manual workers believe they’ll suffer a workplace accident within three years, only 4% hold income protection policies and just 1% have accident-only cover. Many haven’t even considered how they’d cope financially after injury. Clear advice is essential to help workers understand and access suitable protection.
1Rightmove, 2025, 2L&G, 2025, 3Protection Reporter, 2025
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments. Financial protection policies typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.
