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Brits lose £5k through illness

The average Britons loses £5,320 when off work due to sickness, the latest research has found.

And with one in three adults taking at least a week of sickness leave, this adds up to £31.65 million lost through illness and injury.

Nearly two in five admitted to Standard Life that they have struggled to make ends meet when off work, with one in ten forced to take out a loan or extra credit card and fewer than one in ten had any form of insurance.

Mick James, protection marketing manager of Standard Life Assurance Limited, said: "Income protection is a key part of personal financial planning often overlooked by consumers.

"The state will currently pay a maximum of £78.50 through incapacity benefit for every week someone is off on long-term sick leave, although other benefits may also be available like housing benefit or a reduction in council tax.

"People should understand the risks they face if they don't have a way of replacing lost income during a period of enforced absence from work."

More than a quarter of those surveyed lost up to £1,000, with one in five missing out on up to £40,000.

Some five per cent lost over £40,000 in earnings.

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16/01/2007 11:10:47

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