One in three employees won't pay for IP

clock • 2 min read

The vast majority of consumers are only prepared to pay less than £5 per week for income protection (IP) with almost a third not willing to pay anything, new research has revealed.

It found that a third of employees are not offered any benefit by their employer either funded or self-funded, with protection and health products lagging well behind pensions where they are. Results from the ABI's latest consumer survey focused on the benefits offered to staff by businesses and showed that a pension was the most commonly offered (59%) followed by death in service (36%). Perhaps worryingly, more people (34%) had nothing available to them than those receiving any of the other benefits. A fifth (22%) were able to use an employee assistance programme (EAP), 17% had ac...

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