Wages cover: 5 things you should know

Five facts to be aware of if you are considering income protection insurance:

1

Mental health and musculoskeletal conditions are two of the top reasons for long-term sickness absence from work – and can affect anybody.

2

The average person’s savings in the UK would pay their bills for less than three months if their income stopped.

3

Some 44% of people off work for more than a year through sickness never return.

4

People aged 55 to 64 are three times more likely to have long-term sickness than those aged under 25.

5

Income protection insurance does not pay out on redundancy.