New research suggests income shock could push one in three parents into hardship within three months
30 June 2026
Income shock could push 1 in 3 parents into hardship
New research from Vitality highlights a growing risk of income shocks among parents with children under 18, with many lacking both the financial buffer and protection needed if illness or injury left them unable to work.
Concerningly, a third (32%) said they could cover essential expenses for less than three months if their income stopped, leaving families exposed to even short-term disruptions.
The greatest concerns for parents, should they be unable to work for a year due to ill health, show the effects of an income shock extend far beyond affording day-to-day luxuries. Around half worried about paying household bills (50%) or their rent or mortgage (49%), while 46% would worry about affording food and other necessities. Notably, four in ten (40%) reported their ability to provide for their family would be a concern should their income stop.
Despite these concerns, many parents remain under-protected. While more than a third (37%) say they considered taking out income protection when they had children, only 18% went on to do so. This suggests that, for many, the intent is there and the value of protection is understood, however prioritising protection amid the demands of family life and competing demands for time could be holding people back, with 13% saying they would like to take out protection but haven’t got round to doing so yet. Cost is also a driving factor, with nearly a third (31%) saying they don’t think they can afford it.
On top of this, existing savings which may be seen as a safety net, are often insufficient to bridge the gap. Nearly a third of parents of under 18s (31%) report having less than £3,000 set aside to fall back on, leaving little room for unexpected income shocks should they arise.
These findings highlight the clear opportunity for advisers to prioritise income protection conversations with families around key life moments, such as having a baby, to support clients in turning intention into action when it is at the forefront of their minds, and the importance of fully explaining the value and role of the insurance.
Justin Garbutt, Director of IFA Distribution at Vitality, said: "There is a clear gap between how much parents value protection and how often it gets acted on. Many recognise its importance, but good intentions are not always translating into action.
"For advisers, that's a real opportunity. Engaging clients at the right moment and making protection simple, relevant and actionable means it's there for families when they need it most."
Notes to Editors
Consumer research carried out by Opinium on behalf of Vitality, with 2,000 UK adults, weighted to be nationally representative, between 5 and 9 March 2026.