What would a loss of income mean to you?
8th October, 2018
Zurich has found that over half of UK adults have taken extended unplanned leave due to illness and injury. Despite this, the research found that people still do not have the financial back up in case it happens again.
The “Cost of Resilience Report” discovered that one in eight may need to actually sell their home, with more than a quarter likely to sell possessions in order to cope. Financial resilience is important with the high cost of living today, and the survey found that a third admitted to not having the necessary protection in place to cover against financial shocks.
Despite 131 million days being lost to sickness and injury last year in the UK, 92% of people do not have any income protection in place. One in six did not have disposable income, with a quarter having no back-up savings in place. The industry is encouraging those with an ‘it won’t happen to me’ mentality, to review their situation and seek financial advice.