Losing money without insurance

Fri, 19 Jan 2007

According to a new report, billions of pounds per year are being lost through illnesses and injury that impairs the ability to work. Standard Life conducted the research, a fresh reminder to take out insurance whilst working, particularly if dependants are involved. The study should also serve as a reminder to keep their life insurance updates.

Apparently, 34 per cent of British workers had to take time off work for a week or more due to illness or injury. Furthermore, 58 per cent of these were absent for a month or more. The amount of money being lost numbers in the billions.

The protection marketing manager of Standard Life, Mick James, indicates that taking out income protection insurance is now considered a more shrewd financial decision than payment protection insurance (regarded as expensive and short-term by many experts,) Income protection insurance covers employees until they recover or retire .
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