UK Financial Conduct Authority reports 58% of adults lack life insurance or income protection

The Financial Conduct Authority (FCA) in the United Kingdom has published research showing that 58% of adults have no life insurance, critical illness cover, or income protection. The research, conducted in September and October 2025 among over 14,300 people, found that 59% of this group have never considered their protection needs. The FCA is partnering with industry, government, and consumer groups to narrow this "protection gap," focusing on renters, self-employed workers, and those with pre-existing conditions. Actions will start by the end of 2026, with progress updates expected by 2027.