One in five workers could be 'financially ruined' by long-term incapacity

clock • 2 min read

A fifth (20%) of UK workers 'have no idea' how they would cope financially if ill health forced them to stop working for six months or more, according to research from Drewberry Insurance.

Based on current employment data, this means more than 6 million Britons are financially vulnerable, without a back-up plan to tackle the financial impact of long-term incapacity. The findings are from Drewberry's 2016 Wealth and Protection Survey. Some 44% of respondents said that they planned to live off their savings if they couldn't work due to long-term incapacity, but only 25% of those surveyed in Drewberry's 2015 Protection Survey said they had enough in savings to cover their monthly outgoings for more than six months. In the current survey, one in four said they would use ...

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