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Which workers receive best life cover?

As part of any full financial planning picture Enable’s IFAs in Bishops Stortford recommend some insurance cover. According to some new research carried out by Punter Southall health and protection on its risk client database employees in the professional services sector receive the highest level of life assurance and income protection benefits.

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 The research found that average life assurance for those in the professional services sector was £232,000, compared to £45,000 for those working in the retail leisure and hotel sectors who the research found received the least.  According to the Punter Southall Health and Protection research, as well as enjoying the best life assurance benefits those in the professional services sector also receive the best group income protection benefits and they have the highest average salary.

Punter Southall health and protection consultant Paul White said: “There are several reasons, based on actuarial risk calculations, why the cost of group life assurance for manufacturing employees is relatively expensive compared to their professional services contemporaries. One is that manufacturing plants tend to be in areas of the country where life expectancies are somewhat lower, in contrast to areas where professional services employees are more likely to live. Secondly, manufacturing jobs are more likely to involve work which may cause health problems, such as musculo-skeletal conditions; and even in some case fatalities through industrial accidents.”

Whatever your walk of life Enable’s experienced IFA’s can help you make sure you have the right levels of insurance protection to cover your life and income.

Issued by: Enable Independent Financial Life Planners 
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 – Fax: 01279 657339
 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.

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