Some three in 10 homeowners aged between 18 and 34 have no protection cover in place, a new study suggests, a risky game for a generation at a critical point in building their financial resilience.
Many young mortgage holders are neglecting the full spectrum of essential cover, including life insurance, critical illness and income protection.
As a homeowner, protection is a vital safety net, as mortgage holders must contend with a large monthly expense that needs to be met come what may.
In the event that they lost their income due to sickness or injury, some 57% of young mortgage holders said they would be in financial difficulty within six months. Worse yet, one in seven would immediately struggle to meet mortgage payments.
Survey respondents suggested solutions such as taking on extra work (29%), lowering their savings or pension contributions (23%), or taking a bank loan (12%).
Rather than rely on uncertain responses, many mortgage holders instead choose a simpler and more proactive approach—taking out protection cover.
🚨 Data accurate as of the date of publication
🚨 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.
Source: Quilter Financial Planning – Essentially Mortgages Q3 2025
