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A Quarter of UK Family Businesses Would Close Immediately If the Owner Died or Became Critically Ill

In Business, Family, Industry News, Insurance, Protection by PCH Staff

An alarming number of family businesses across the UK are putting themselves at increased risk of failure by not having safeguards in place should certain critical events occur, a new survey has found. According to Legal & General’s “State of the Nation’s SMEs” research – which polled over 800 small businesses – just 42% of family businesses in the UK …

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Income Protection Gaps Are a Stark Global Issue

In Family, Individual, Industry News, Protection by PCH Staff

The income protection gap in both the UK and around the world is worrying and needs addressing, according to a new report from Zurich. Produced in partnership with Smith School – University of Oxford, the Zurich report, entitled “Embracing the income protection gaps challenge: options and solutions,” sets out recommendations for tackling gaps in income and putting financial safety nets …

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Majority of Brits Put Their Partner’s Health Ahead of Their Own Wellbeing

In Family, Individual, Industry News, Protection by PCH Staff

Millions of Brits are putting their own wellbeing at risk because they worry too much about the health of their partners, new research has found. In fact, three in four of the 2,000 adults surveyed for the Bupa Health Clinics poll said they worry about their partner’s physical health, while one in three admitted to regularly (yet unsuccessfully) pleading with …

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Startling Number of ‘Gig Workers’ Have No Financial Protection

In Industry News, Protection by PCH Staff

Millions of Brits today are employed in what are known as “gig jobs”. This term is used to describe workers who are often independent contractors or freelancers, and are paid for each “gig” they do – instead of by the hour/day. It’s a setup that both employers and individuals like because of the flexibility it affords. However, many such workers …

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Uninsured Women Leaving Their Families Just Seven Months Away from Financial Hardship

In Family, Industry News, Protection by PCH Staff

Some women are leaving their families in potentially uncertain positions financially because of their lack of financial protection, new research has shown. According to the survey from Scottish Widows, more than three-quarters (76%) of women say their families would struggle to cope with everyday chores and household expenses if they fell ill or passed away. In fact, these women indicated …

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Two-thirds of Child CI Claims in Last Decade Were for Cancer, Parents Urged to Check Policies

In Family, Industry News, Protection by PCH Staff

New data released by protection provider Aegon shows that more than two-thirds (67%) of its child critical illness (CI) claims over the past 10 years were for cancer. During the past decade, 30% of childhood cancer claims received by Aegon were for brain tumours, 25% were for Leukaemia and the remainder were for other forms of cancer. In 2016 alone, …

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12 Million UK Adults Have Suffered Financial Hardship Due to Ill Health or a Death in the Family

In Industry News, Protection by PCH Staff

Unfortunately, if you have to take time off work due to an illness or other unfortunate circumstance, your financial commitments do not get put on hold. And while you may be entitled to receive statutory sick pay (SSP), is £89.35 a week for up to 28 weeks going to be enough for you and your family to live on? The …

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Research Uncovers Income Shortfall for People Diagnosed with a Critical Illness

In Industry News, Protection by PCH Staff

New research shows that over half of people diagnosed with a critical illness are having their worries compounded by additional financial pressures. According to the research from insurer Royal London, 51% of people (around 3.5 million) diagnosed with a critical illness, such as cancer, heart attack or stroke, have also been hit financially, due to having to take time off …