News
47% of homeowners wrong about income protection and redundancy, analysis finds
The misconception was more pronounced among those who already hold a policy, with 61% of this group believing it covers redundancy.
Income Protection
Health & Wellbeing
Workers prioritise pet insurance over income protection, finds LV=
The fourth Reaching Resilience Report showed 33% hold pet insurance, compared to 25% with critical illness cover and 25% with income protection.
News
Nearly half of young adults fail to save for time off work, OneFamily finds
51% of respondents said they save for periods when they may be unable to work due to illness, injury or redundancy, while 44% said they rarely or never do so.
News
Millennials most likely to link work to confidence and sense of purpose, survey finds
The survey from Cirencester Friendly found that 85% of workers said being unable to work due to illness or injury would affect their personal confidence.
Health & Wellbeing
Research finds misconceptions driving low take-up of income protection among UK workers
Shepherds Friendly research shows widespread misunderstanding of income protection and the support available if workers fall ill.
Compensation & Benefits
Just 14% of full-time UK workers have income protection – Shepherds Friendly
Cover was more common among 25 to 34-year-olds at 20%, and 18% for those aged 35 to 44.
News
Manual workers least likely to have income protection – National Friendly
23% of manual workers said they expect to have a workplace accident in the next one to three years, higher than the national average of 19%.
Compensation & Benefits
Only 27% of UK workers hold income protection despite rising financial pressures
LV= research reveals a significant protection gap, with half of UK workers saying insurance would make them more financially resilient but fewer than three in ten having cover in place.
News
RedArc helps 62% of IP claimants return to work within three months
For those who had been claiming for less than three months, this figure rose to 79%.
Lead Story
72% of GIP claimants returned to work in 2024 – GRID
The group risk industry paid out £2.59bn in 2024, up £99.2m from 2023.
Compensation & Benefits
Unum UK pays out £516m in group protection claims in 2024
The firm now covers 2.8 million people across its products, which is a 44% rise in the last five years.
News
Dentists’ Provident paid out £4.9m in claims during 2024, report finds
The provider's claims report showed the majority of claims were paid to those aged 46-55 years old, with the youngest claimant being a 27-year-old dentist.