Research from The Exeter shows that 30% of 16-24-year-olds are living with an ongoing medical condition, and this goes up to 47% among over-55s.
Women are also more likely to report ongoing medical conditions, coming to 41% compared to 37% of men.
Looking at self-employed customers, 44% of customers live with an ongoing health condition. As there are no employer-provided benefits or sick pay, this group tends to have fewer financial safety nets, so personal protection is crucial, The Exeter said.
The Exeter said it is “more important than ever that consumers are aware of the availability of protection products”.
The firm noted that advisers are “well-prepared to support clients with discussions around ongoing health issues and understanding the options available and the associated costs/benefits”.
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Jack Southcott, head of protection distribution at The Exeter, said: “Almost 40% of UK adults live with an ongoing medical condition, yet many still feel unsure about whether protection is available to them. With nearly one in five people abandoning the protection journey altogether, there’s still work to do to help clients understand their options and take the next step towards cover.
“Clearer conversations about what’s genuinely possible, especially for those living with long-term conditions, can make a huge difference. When clients understand they’re not automatically excluded, they’re far more likely to take that next step towards getting the cover they need.”
