Around two in five UK respondents said their savings would only support them (their family) for 3 months or less if they couldn’t work due to a serious injury or illness. And less than a quarter felt their savings would provide financial support for more than 1 year, highlighting the substantial financial risk many employees face.
This has been highlighted in a new global report published by Zurich - ‘Income protection gaps: challenge and opportunity’.
The term ‘Income Protection Gap’ is used to describe the reduction in household income as a consequence of a wage earner suffering a serious illness/injury or premature death
Concerned about protecting your income if you can’t work due to illness? We are here to help.