The evolution of income protection

IP might seem a modern idea, but its roots go back to the Industrial Revolution in 18th century Britain. As factories and machines transformed the country, the workforce grew along with the risks. Injuries, illnesses and long hours became common, making it clear that workers needed more than just physical protection. This led to the beginning of friendly societies, groups where workers pooled their money to support each other in times of need. If a member fell ill or got injured, the society would step in to help financially. These early mutual aid groups were the first form of IP. Th...