Research from protection provider LV= has found that lockdown has benefitted the general population’s physical health with people taking more exercise, and eating more healthily.
34% say they are doing more exercise than they normally would, while 30% reveal that they are eating more healthily than three months ago and have more time to cook meals from scratch.
However, their mental health has suffered, with 44% of those surveyed say they have felt more stressed or anxious than normal with 50% of women feeling this way. 29% of consumers have experienced a decrease in income from work over the past three months and 31% are more worried about money than normal.
In addition, 23% expect their financial position to worsen over the next three months.
LV= has handled £6m in coronavirus-related income protection and death claims to over 600 individuals and families since the start of the pandemic, with mental health (29%) as the single biggest reason for claims on LV=‘s income protection policies.
Debbie Kennedy, director of protection at LV=, said: “The coronavirus crisis has revealed very suddenly just how exposed we are to sudden shocks. The need to build resilience into our lives has never been more relevant or urgent. The virus has not only had a devastating impact on physical health, it also has a huge effect on our mental health.
“We understand the emotional impact of bereavement and are doing all we can to make sure death claims are paid as quickly as possible so that families do not have to worry about the immediate financial impact of bereavement while they are grieving.
“However, fears about the financial impact of coronavirus, impending jobs losses and isolation caused by lockdown are all factors behind the general population’s rising anxiety levels. The outbreak has revealed just how precarious the finances of many people are, particularly those who are self-employed, and highlights the benefits of protecting income.”
