The economic climate is affecting people’s decisions and their emotional response to risk, a survey by the Association of Mortgage Intermediaries (AMI) found.

As the launch of Ami’s 2025 Protection Viewpoint Report approaches, the association reveals that in its survey of 3,000 consumers over three in four (78%) stated that the current economic climate had made an impact on them emotionally when it came to making financial decisions.

Furthermore, over half of all consumers (51%) stated this was a “big impact”.

AMI’s research shows clear contrasts across different groups in society – by age, housing situation and family status.

Younger people feel the strain most, with 82% of Gen Z and 85% of Millennials reporting an emotional toll.

Others who are affected by the economic climate include, 83% of mortgage holders with 54% of those suggesting it was a big impact, while 87% of parents with children under 18 feel the pressure and of those 63% said it was a big impact.

Finally, renters report higher stress than homeowners with survey results showing 57% of renters stating the economic climate was a big impact compared to 48% of homeowners.

To explore how emotional responses influence protection decisions in practice AMI carried out a series of interviews with consumers.

The discussions within this community group highlighted that while a minority feel comfortable and stable, most are far less certain about the future.

Rising costs, inflation, stagnant wages and lack of job stability or security are leaving more than half of those who participated feeling uneasy.

Against a backdrop of recent events such as the pandemic, it reinforces the belief that financial shocks can come at any time or happen to anyone.

AMI chief executive Stephanie Charman says: “Our Protection Viewpoint launch is all about turning insight into action. These initial findings from our 2025 study show clearly that age and life stage play a huge role in how people navigate economic uncertainty, and that both emotional and practical factors shape their financial decisions.”

“This reinforces the critical importance of the role of protection and delivering advice that really meets people where they are, helping them feel confident about the future.

“Our launch event, on 5 November, is open to the whole industry and is a fantastic opportunity to hear directly from consumers, explore the latest trends, and reflect on key lessons from the past six years.”

“Most importantly, it’s about taking these insights and translating them into action, giving advisers, distribution partners and protection providers practical tools to make a real difference to support the future of the protection market.