The employment rate (the proportion of people aged from 16 to 64 who are in work) is at its highest since comparable records began in 1971 – there are 32 million of us working. But sadly, 2 million people are not in work due to long-term sickness, according to the UK labour market statistics published in September.

Legal and General found in research they commissioned that, a third of people have themselves, or they know someone who has, been out of work due to illness or injury.

More than 137 million working days were lost due to sickness or injury in the UK in 2016, and although minor illnesses (such as coughs and colds) were the most common reason for sickness absence, a significant proportion of people find themselves absent from work long-term (for four weeks or more).

Stress and acute medical conditions remain the top causes of long-term absence, followed by mental ill health, musculoskeletal injuries and back pain.

Mental ill-health is a growing problem, now affecting one in four UK adults each year. In England, 1 in 6 people report experiencing a common mental health problem (such as anxiety and depression) in any given week (MIND).

Every year millions of working days are lost to sickness absence, much of which ends in a swift return to work. However, a significant number of absences last longer and each year over 300,000 people fall out of work onto health-related state benefits. Before reaching this point, many have been long-term sick off work. They have become increasingly distanced from the labour market and suffer from the reduced economic, social and health status that come with being out of work.

If your income was stopped due to incapacity caused by long-term illness or injury, could you cope with your bills and other outgoings?

Income protection is a long-term insurance policy that pays a regular monthly benefit if you can’t work due to illness or injury resulting in a loss of earnings. It’s a safety net that you can use however you wish: to pay towards your bills, mortgage payments and food or to fund your lifestyle. The monthly benefit is paid either until you recover and can return to work, or until you no longer qualify, or in the event of your death, or at the planned end of the policy – whichever is sooner.

Income protection insurance is taken up by people who want peace of mind that their monthly income will be safeguarded should the worst happen, but many people choose not to take out this type of insurance is that they believe state benefits will provide for them and their loved ones.

The actual amount you could potentially expect to receive from the government in the event of long-term illness is £89.35 per week Statutory Sick Pay (SSP). It’s paid by your employer for up to 28 weeks. You need to qualify for SSP and have been off work sick for 4 or more days in a row (including non-working days).

The average weekly earnings in the UK are currently £505, according to the Office for National Statistics. If you were unable to work because of illness or injury that resulted in a loss of this income, how would this impact your daily life?

For many of us it’s a frightening prospect, and until now, you may never have stopped to consider what your sick pay or possible employee benefits would be.

Each year in the UK almost a million people find themselves unable to work due to a long-term illness or injury. It’s not pleasant to imagine that this could happen to you, but if it would leave you unable to pay the bills, you may wish to consider income protection insurance.

Taking out relevant insurance could help protect your family and ensure unexpected events are easier to financially manage. If you’d like to talk to an expert about getting the right type of cover in place to protect you and your family, we’re here to help. At Essential Insurance, we’ll take time to understand your needs so we can give you advice and make a recommendation – for a no obligation chat, you can give us a call on 0800 612 8005.