I think that this is a positive step, particularly for those who are starting out in their careers, who perhaps do not have a family to worry about looking after or may not have purchased a house yet and their income is their priority and they want to protect this.
Let's hope this trend continues and we see an increase in the amount of younger people seeing adequate financial protection as a priority in their monthly spending, rather than a ‘nice to have’.
Article continues after advert
James Hunt is a chartered and certified financial planner at Eldon Financial Planning
Page 3 of 3