New research from Aviva suggests that 52% of
workers would be unable to survive financially for more than three months if
they were off work with an illness. 30% say they could survive for less than a
month. 9% say they could remain solvent for a year or more.
19% know how much Statutory Sick Pay they would
be entitled to, but 26% think they would receive considerably more: 16% believe
that they would be entitled to over twice as much benefit.
Worryingly, if finances were tight, some people
would neglect their health in favour of non-essentials. 23% would put their
health at risk - with 14% saying they would miss important health checks and 9%
admitting they would put up with health ailments. 12% would cut down on
cigarettes or alcohol.
Steve Bridger at Aviva says: “You never know what
is around the corner and few people have the savings to support themselves and
their families for very long. Employment and Support Allowance can come to as
little as £67.50 a week – even less than Statutory Sick Pay - which in many
cases would hardly cover a family’s food shopping, let alone their mortgage and
other necessary expenses.”
Income protection insurance news: 16 November 2011