Income Protection

A third (33%) of UK households could not cope financially if they lost their main income yet only 7% of the population has income protection (IP), according to research.

Early intervention on employee absence can markedly increased return to work rates, according to Legal & General.

As stress takes its toll, 33% of public sector employers said their average employee takes more than five days off sick per year, compared to 15.9% in the private sector.

The fit note is not reducing absence yet as sickness time off increased to 190 million lost working days at a cost of £17bn to employers last year, the Confederation of British Industry (CBI) has said.

The government has vowed to press ahead with reform of the welfare state as its latest statistics show less than a quarter of those applying for Employment and Support Allowance (ESA) are successful.

Employers underestimate the importance of the benefits they offer staff after new research revealed half of employees would move jobs for better benefits.

The group risk market has begun to recover from the effects of recession although income protection is still in decline, according to Swiss Re.

Legal & General has become the first non mutual of 2011 to publish its income protection (IP) claims data.

Over half of middle income households are vulnerable to losing their primary income, according new research.

Doctors have branded fit notes a success in helping people return to work but believe it has not improved advice to patients and that more local services are needed to support returning to work.