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41% have no income cover

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Written by:
06/06/2012
Research carried out by insurer MetLife reveals that 41% of people have no financial safety net if illness or a serious accident forced them to stop work.

Research carried out by insurer MetLife reveals that 41% of people have no financial safety net if illness or a serious accident forced them to stop work.

If they had to give up their job, 23% would rely on their partner to support them while 4% would ask their parents for help. And 7% say they would be forced to take the dramtic step of selling their home.

According to privatehealth.co.uk, the research also reveals that only 15 %  have income protection insurance, and 7% of these receive it as part of their employee benefits package.

Of the male respondents, 45% said they had no financial back up plan, compared to 38 per cent of women.

However, women are twice as likely to rely on their partner for financial help, and three times more likely to turn to their parents.

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