The Financial Conduct Authority (FCA) said that more than half of adults do not hold a pure protection product, even though many could benefit from them. Pure protection products help people deal with financial shocks. The interim findings of the FCA’s competition review of pure protection products found that, for people who have taken out protection insurance, the market mostly works well. “These findings are especially important as life insurance, critical illness cover and income protection insurance remain vital financial safety nets for people and their loved ones when it matters most. “The FCA has rightly recognised that a protection gap remains, and that many more people could benefit from the peace of mind and security that protection insurance offers.