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1 in 7 have insurance against illness

By Matthew Plant

22 May2021

Women experiencing illness When money's tight, different people will cut their spending in different ways, but making the right cutbacks is vital - or the consequences could be serious.

So it's worrying to see recent figures from MetLife, which indicate that only 15% of workers in the UK (around 1 in 7) have insurance of any kind that could help them if they fall ill and this stops them earning. Just 7% have an employee benefits package that gives them that insurance.

Looking at the figures, it seems many of the people who don't have that cover are probably more likely to need it!

While almost a fifth (19%) of London's workforce are insured against ill health, that's nearly twice as high as the figure for Scotland, where just 10% (the lowest number) enjoy this kind of protection.

Yet London has the lowest rate of long-term illness - just 13%, compared with 28% in the North.

And age and gender both make a big difference. 20% of men have health insurance, compared with just 11% of women - and only 12% of people in the 55+ age group are insured against a long period of illness that stops them working.

"Understandably," said Stephanie Baillie, employee benefits director at MetLife UK, "people are being forced to make tough financial choices as their incomes are squeezed."

She continued: "Yet this only makes good quality health insurance more crucial as many consumers would be left unable to support themselves in the situation where they lost their livelihood through illness."

Image iStockPhotos / Marcela Barsse

Tags: insurance, life insurance, illness insurance, money, family, health insurance, MetLife

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