Only 15% of UK workers have any form of insurance against ill-health preventing them from earning a living, with just 7% receiving the insurance as part of their employee benefits package, new research from MetLife suggests.
The insurance gap is at its widest for those aged 55 and over as only 12% of this group are covered for a lengthy period off work through ill-health.
Across the country, workers in the North reported the highest rate of long-term illness at 28%, falling to 13% (the lowest rate) for those living in London.
Ironically, highest insurance cover was found in London (19%) while Scotland came last with only 10% of respondents claiming similar.
Both men and women were equally likely to have suffered ill-health at 21% but men were over a third more likely to have been made redundant at 25% compared with 16% for women.
The gender gap was reflected in health insurance cover in place, with 20% of men having cover compared to 11% of women.
Stephanie Baillie, employee benefits director at MetLife UK says: “Understandably, people are being forced to make tough financial choices as their incomes are squeezed.
“Yet this only makes good quality health insurance more crucial as many consumers would be left unable to support themselves in the situation where they lost their livelihood through illness.”
MetLife’s research was conducted by Vision Critical using an online methodology among 1,106 consumers.
source: www.insurancedaily.co.uk