Brits missing £31.65bn through lost wages

clock

Britons have lost £31.65bn in wages through illness and injury, with an average loss of £5,320 per person, according to research from Standard Life.

A survey of 1,000 UK adults reveals one in three have taken more than a week off work through illness or injury and 39% have suffered a loss of earnings as a result, equating to £31.65bn in total. A further 37% of those who have been off work for more than a week said they were the main breadwinner, while 38% said they struggled to make ends meet while off work. While off work, 23% borrowed money from friends and family, 11% of employers continued to pay them, 11% borrowed money from the bank or credit card and 8% had some form of insurance to help them out. On a regional basis, 54...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Life insurance: Complexity vs cost and the confidence gap

Life insurance: Complexity vs cost and the confidence gap

Complexity and uncertainty create frustration for consumers and operational drag for advisers

Kevin Carr
clock 30 April 2026 • 4 min read
Holloway Friendly and Wiltshire Friendly to merge

Holloway Friendly and Wiltshire Friendly to merge

No job losses anticipated

Jaskeet Briah
clock 20 April 2026 • 2 min read
Protection advisers under 30 report worries about AI use in claims

Protection advisers under 30 report worries about AI use in claims

More concerned about AI used in claims than underwriting

Jaskeet Briah
clock 30 March 2026 • 2 min read