As the holiday season approaches and people rush to get travel insurance to cover them while abroad, Friends Provident is urging people to protect themselves for life, not just while on holiday.
Only one in three have some form of protection cover in the event they become ill or are unable to work, but eight out of ten take out or have travel insurance when they go abroad. This is despite the main reasons for taking out travel insurance -cover against accident or illness and for peace of mind- being the same as those for taking out income protection.
Two out of three of people believe they are more likely to suffer an injury or illness while in the UK than abroad yet people still opt to take out travel insurance over critical illness cover or income protection cover.
Ed Stuart-Brown of Friends Provident says,” Having insurance while you are abroad is a good thing but what happens if you return home and become unable to work due to illness or injury? You will find it a real struggle to make ends meet if the absence is prolonged. By taking out critical illness and income protection insurance you can have the financial freedom to continue living the lifestyle you are accustomed to and focus on getting better."
Income protection insurance: News update: 16 July 2010