UK health and life insurer The Exeter has released new research showing that millions of UK adults are at risk of financial hardship in the event of a loss of income.
The survey of 2,000 UK adults found that 47% have less than £5,000 in emergency savings, leaving many vulnerable if they were suddenly unable to work. Of this surveyed group, one in ten (10%) have less than £500 available to cover essential expenses and even more – one in seven (14%) – have no savings at all.
While financial strain cuts across all age groups, those aged 45-54 appear most at risk. More than half (54%) in this age bracket have under £2,500 saved, and 21% have nothing to fall back on – the highest proportion of any generation. Interestingly, the research also challenges the assumption that younger adults are the least financially prepared; of those consumers with savings, those aged 25-34 report mean savings of £14,123, almost double the £7,961 held by 45-54-year-olds.
Reliance on others highlights financial vulnerability
Even with savings pots low, 29% of UK adults say they would still be reliant on their own savings if unable to work due to illness or injury – the most common response overall. Beyond that, many would turn to company sick pay (20%), a partner’s income (17%), or state benefits (12%), while 8% would depend on family or friends for financial help.
The youngest adults (16-24) are the most likely to lean on family, with 30% saying they would turn to relatives or friends for support. By contrast, 20% of 45-54-year-olds say they would rely on a partner’s income, highlighting how both younger and mid-life groups remain financially exposed if their earnings were to stop.
Jamie Page, Head of Protection Distribution at The Exeter, commented:
“These findings underline how even those in the middle of their careers, often at the peak of their earning powers, increasingly have limited savings to fall back on if they were to lose their income.
Illness or injury can strike at any time and, without a financial buffer, even short periods out of work can create financial strain for UK households. It’s never been more important that UK workers have access to financial advice and tools to help them become more financially secure, whether that’s by reducing bills, scheduling regular savings, or taking out protection policies to offer a safety net around their income.”
ENDS
Notes to Editors
About the survey
The research was conducted among 2,000 nationally representative UK consumers between 6–8th August 2025.
PR Contact
Tom Stewart-Walvin, Rostrum
T: +44 (0)7855 689 302
E: theexeter@rostrum.agency
About The Exeter
The Exeter is a leading protection and healthcare insurer who have been supporting UK families in the event of ill health or injury since 1888.
Formerly known as the Exeter Friendly Society and Pioneer Friendly Society, The Exeter is a mutual friendly society. This means it’s owned by members and run for their benefit, rather than shareholders.
The Exeter is a trading name of Exeter Friendly Society Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Register number 205309) and is incorporated under the Friendly Societies Act 1992 Register No. 91F with its registered office at Lakeside House, Emperor Way, Exeter, England EX1 3FD.