The early insights from the 2026 Protection Viewpoint study, based on a survey of 3,000 UK consumers, found that across the various reasons given for not purchasing protection, between 79% and 95% of respondents said something could have changed their decision and made them more likely to proceed with cover.
The AMI said the findings suggested barriers to protection were often not fixed and may instead relate to factors such as affordability concerns, lack of confidence, limited understanding of products or poor timing during the advice process.
The early insights come shortly after the Financial Conduct Authority’s (FCA’s) final report into the pure protection market, which found that 58% of UK adults have no protection cover, with 59% of that group saying they had never considered taking it out.
The AMI said the research demonstrates that consumers remained receptive to discussions around protection, even when they initially choose not to proceed.
The trade body has also been tasked by the FCA with leading industry efforts to improve adviser engagement with protection, with the regulator highlighting the AMI’s annual Viewpoint research as a platform for supporting advisers and helping address the UK’s protection gap.
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The full Protection Viewpoint Report 2026, developed in partnership with Legal & General, The Exeter and Vitality, will be unveiled at a virtual launch event on 5 November.
Stephanie Charman, chief executive of the AMI, said the FCA’s findings had reinforced the need for the industry to take action.
She said: “The FCA’s final report has put a clear marker down: now is the time for the industry to move from talking about the protection gap to actively working to close it.
“What our research tells us is that the protection journey is not linear. Consumers are not closing the door on it, but the industry isn’t always finding the moment to open it.
“Cost, confidence, understanding and timing are all barriers that can be addressed, not fixed points that rule people out for good.”
Charman added that the report’s focus on consumers, propositions and advice models would help the industry identify opportunities to turn consumer interest in protection into tangible action.
