Most UK consumers have never received a protection quote, AMI study finds

The protection gap in the UK has long been treated as a demand problem. New research from the Association of Mortgage Intermediaries (AMI) suggests the profession has been asking the wrong question.

The Protection Reimagined: 2026 Protection Viewpoint report — developed with Legal & General, The Exeter, and Vitality, and based on a survey of 3,000 consumers and almost 300 advisers conducted in August — reveals that six in 10 consumers have never received a protection quote at all.

Among those who say they cannot afford protection, that figure rises to eight in 10. These are not people who have weighed up the cost and walked away. They are people who have never been shown a number.

That reframing shifts both the nature of the problem and what advisers are expected to do about it.

Why the protection journey is failing before it begins

Nearly three-quarters of consumers (72%) have never started a protection journey, up from 65% in 2025. Just 11% completed one and went on to purchase. The drop-off is not happening at the moment of decision; it is happening before the conversation has properly begun.

Vikki Jefferies, Market Development Director at Legal & General's Retail business, put it plainly: "These findings challenge the idea that consumers are rejecting protection. The real challenge is making its value clear and relevant to their lives."

For mortgage advisers, this points to a fundamental issue with how and when protection is being introduced. The research found that for every reason a consumer cited for dropping out — affordability concerns, uncertainty about value, changed circumstances, or trust issues — between 79% and 95% said something could have changed their mind. A "no" at one point in the client relationship is, in most cases, recoverable.

Jamie Page, Head of Distribution at The Exeter, said the re-engagement opportunity was being underused: "With only 11% of consumers completing the protection journey, there is a clear need to keep the conversation going. The fact that 38% of those who dropped out could have changed their minds if contacted later by an adviser shows just how important re-engagement can be in closing the protection gap."

The remortgage assumption is a liability

The most significant AMI finding for mortgage brokers is the disconnect between how advisers structure their client touchpoints and how consumers actually behave.

Four in 10 advisers (41%) say their protection discussions are timed to coincide with a client's fixed-rate deal ending. The client is already engaged, there is a natural financial review underway, and the adviser is front of mind. The problem is that only 25% of consumers expect to return to their existing adviser at remortgage time. Twenty-four per cent plan to go direct to their bank or building society, and 18% intend to arrange the mortgage themselves.

Advisers are banking on a client relationship that a significant portion of their clients do not expect to continue. This has two implications: first, that any protection discussion deferred to remortgage time may never happen; and second, that if the client does leave, the adviser loses not just a mortgage transaction, but the protection opportunity that could have taken place.

Consumer Duty raises the stakes for protection insurance

The FCA's Consumer Duty framework has changed the regulatory backdrop against which these conversations take place. Where previously a protection conversation might have been characterised as a commercial opportunity, it is now arguably closer to an obligation, particularly given what the AMI data shows about the affordability misconception.

If consumers who cite cost as a barrier have never actually received a quote, there is a live question about whether a "can't afford it" response from a client constitutes genuine, informed decision-making, or simply an untested assumption.

Andy Philo, Director of Strategic Partnerships at Vitality, framed it as a distinction the industry needs to internalise: "We should not confuse a lack of protection with a rejection of protection. This research highlights an engagement gap as much as a protection gap."

Re-engagement as a business strategy

Among consumers who dropped out of a protection conversation because their circumstances changed, being contacted again later could have made a difference. The same proportion also wanted a simpler way to restart the process.

This is not complex. It is a follow-up. Yet advisers who have invested in systematic re-engagement programmes remain a minority in the profession. For firms willing to build this into their client management process, the data suggests there is a recoverable pipeline sitting in their existing book, without a single new lead.

AMI chief executive Stephanie Charman described the protection gap not as a closed door, but as one that has rarely been opened. She said: "Advice has a vital role to play in helping consumers explore their options and keeping the door open for future conversations. A 'no' today doesn't rule out a 'yes' tomorrow."

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