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The Life Insurance Market
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Aviva have released new research figures that show long term absence from work is on the rise. Almost one in four businesses (23%) claim recent economically difficult times have taken a lasting toll on employee stress levels and have led to an inevitable rise in long term absence rates.
It proves that Income Protection is more relevant than ever for the working person in the UK. Income Protection pays out a tax-free proportion of your income (usually the net income) if you are too ill to work due to illness or disability, including for spinal or mental health issues, such as stress. Additional unemployment cover can be added too.
Consumers should be aware that there are similar policies to Income Protection available which are inferior – often known as PPI, MPPI, ASU – and anyone off work for mental health issues will almost certainly not be able to claim on their policy. With Income protection you can.
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