Listen: wealth vs health

New research has illustrated the stark reality for those living without income protection, with sick and injured Brits forcing themselves back into work against doctor’s advice due to concerns about income and personal finances. Six in ten people (58%) go to work when ill, whilst one in three will ignore doctor’s advice because of financial concerns, new research has shown.

43% admit putting off going to the doctors due to money fears, even if they are concerned that they may have a serious illness. 29% have no protection to support them financially if they are forced off work, showing the true extent of the issue. 30% indicate that they would rely on Statutory Sick Pay, which at £96.35 per week for up to 28 weeks, pays much less than many people need to cover the cost of living, which continues to rise.

The research, released by Nationwide Building Society to highlight their Illness and Injury Insurance, illustrates the full extent of this situation amongst employed and self-employed members of the UK workforce. Nearly half (49%) indicated that they would benefit from a policy like the one that Nationwide offer that’s backed by Legal & General.

Ros spoke to personal finance expert Iona Bain and Jason Hurwood, director or protection at Nationwide Building Society.

Photo by Colin Watts on Unsplash