Almost a quarter of people do not know how they would cope if they lost their regular income, according to research by the ABI.
The research, conducted for the first time, shows 2.4m people in the UK have long-term illnesses and claim incapacity benefit. It also shows 23% will have no job at some point during their working life and one in three will not work for a year or more. However, many are unsure how they would survive if their income was taken away, prompting the ABI to produce a fact sheet highlighting the different types of protection products available. Nick Starling, the director of general insurance and health at the ABI, says: “It is important when people are taking out a loan or a mortgage that th...
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