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Majority of City of London workers may have no insurance PDF Print E-mail
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Latest Recruitment News - HR and Recruitment Legislation News
Written by DirectNews Feed   
Friday, 08 October 2010 00:00
Majority of City of London workers may have no insuranceCity of London workers may be risking their future by taking on a job without making provisions should they suffer a serious illness.

A health issue that prevents a person from carrying out their job would prove catastrophic for many, with 49 per cent of respondents to a Canada Life survey saying they would only be able to maintain their lifestyle for a maximum of six months.

Despite this, only 19 per cent have got a critical illness policy set up to help financially in such a scenario.

Paul Avis, director at the organisation, said: "Despite being the only area of group risk that grew in 2009, there is evidently still a need for providers and advisers to raise awareness of the benefits of critical illness cover."

Many people may not be able to afford a lack of pay in the current economic climate, with Family Investments recently warning it is becoming increasingly difficult to put money aside for the future.

Posted by Daniel Frost
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