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Need for Income Protection Underestimated by 90% of Employees

In Industry News, Protection by PCH Staff

New research suggests that a staggering 90% of UK employees underestimate their chances of finding themselves unable to work due to illness or serious injury. As a result, they are overlooking the need for income protection. According to the research by Canada Life Group Insurance, when asked about the number of people who are forced to take more than four …

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NHS Waiting Times ‘Biggest Healthcare Concern’ for British Public

In Industry News, Protection by PCH Staff

Nearly half (46%) of the British public are worried about NHS waiting times in England and believe that they are the biggest healthcare concern in the country right now. That’s one of the stark findings of some new research conducted on behalf of private hospital group BMI Healthcare. According to the research, over two-thirds of the public (68%) would consider …

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GRiD Urges Employers to ‘Make the Most’ of Group Protection

In Business, Industry News, Protection by PCH Staff

Employer-sponsored life assurance, income protection and critical illness cover are some of the most highly-valued and cost effective benefits a company can offer its employees. However, many employers are not making the most of them, according to research by trade body Group Risk Development (GRiD). GRiD has highlighted five key signs that employers could be missing out: 1. Employers think …

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Study Shows Brits Are Failing to Proactively Prevent Serious Illnesses

In Industry News, Protection by PCH Staff

Despite having had direct experience of a serious illness through a relative or friend, the majority of British adults are not taking the necessary steps to reduce their risk of developing one. That’s the stark message to come out of some new research by Royal London, which found that a lack of knowledge across the country is putting people in …

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Future Pensioners Face Different Reality to Their Parents

In Family, Protection by PCH Staff

The retirement experiences facing many generations of future retirees will be drastically different from those of their parents, according to a recent report entitled ‘The Death of Retirement’ by Royal London, the UK’s largest mutual life insurance and pensions company. Under older-style final salary pension schemes the average contribution was around 20% of a person’s total wages. However, under the …

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Group Income Protection Sales Surged in 2015, says Unum

In Business, Industry News, Protection by PCH Staff

In 2015, the number of companies who bought group income protection insurance for their employees was more than 300, which is an increase of 20 per cent over the previous year, according to new research from Unum. Unum says that the group income protection market is continuing to grow, with 300,000 more employees covered by the end of 2014 than …

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Macmillan: Cancer Patients Face Homelessness Over Allowance Cuts

In Family, Industry News, Protection by PCH Staff

A leading UK cancer charity has warned that cancer patients could be at risk of becoming homeless if proposed government cuts to Employment and Support Allowance (ESA) go ahead. According to research commissioned by Macmillan Cancer Support and conducted by Truth Consulting, 10% of people living with cancer in the UK would be unable, or would struggle, to pay their …

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Protection Needs Change as We All Live Longer

In Industry News, Protection by PCH Staff

The whole of life (WOL) insurance market, according to Cigna Insurance Services, is estimated to be worth around £108m a year, with the total market value more or less split equally between the two historic types of WOL policy: over-50s guaranteed acceptance plans and fully underwritten products. But even though they share a marketplace, these products are vastly different; so …

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Britons Chronically Unprepared for Long-Term Sickness Absence from Work

In Family, Industry News, Protection by PCH Staff

Almost as many UK employees believe that they are as likely to win the lottery as they are to be struck off work because of sickness for 12 weeks or more. That’s the startling key message to come out of a recent survey for income protection provider Cirencester Friendly. With revelations like this, is it any wonder that a worryingly …

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How Much Is Long Term Absence Costing Your Company?

In Business, Industry News, Protection by PCH Staff

Long-term sickness absence, which is classified as a period of absence of six months or more, costs private sector businesses in the UK a whopping £4.17 billion a year, according to a new report from the Centre for Economics and Business Research (Cebr). For a typical business with more than 500 employees, the cost of long-term sickness absence per year …

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Is the Government’s Fit for Work Service Fit for Work?

In Industry News, Protection by PCH Staff

In July this year, the UK government’s Fit for Work (FfW) service completed its nationwide rollout after going live across England (it had previously been rolled out in Scotland and Wales). The service allows GPs and employers to refer employees who have been off work for four weeks or more for an occupational health assessment. It’s a service that’s designed …