More than half ignore medical advice and work despite poor health due to financial worries
When you are off work due to an illness or injury, worries about how you are going to pay your bills can make an already stressful situation worse. So much so, that many people are finding themselves in the very difficult position of having to put the need to earn money over their health by continuing to go to work, even when advised not to by a doctor.
Worse still, financial concerns mean some are avoiding seeing their GP altogether, even when concerned they may have a serious illness. Money worries see six in ten people go to work when they are ill, with one in three ignoring their doctor’s advice due to financial concerns, even when they are worried about serious illness, according to a new research[1].
No
financial
protection
in
place
Three
in ten
people
have no
financial
protection
if they
were off
work
should
they
fall ill
or
become
injured,
while
27%
could
financially
only
last for
a month.
The
findings
highlight
that
sick and
injured
Britons
are
forcing
themselves
back
into
work,
despite
doctors’
advice,
due to
having
no
financial
protection
in
place.
Nearly
a third
(32%)
admitted
to not
following
their
doctor’s
advice
because
they
couldn’t
afford
to take
time
off,
while
43%
would
put off
going to
the
doctors
due to
financial
concerns
–
even if
concerned
they may
have a
serious
illness.
Negative
impact
on
mental
wellbeing
The
research
also
highlights
that
while
nearly
half
(49%)
say they
would
benefit
from a
policy
that
would
cover
their
income
if off
work for
an
extended
period,
just 27%
actually
have any
income
protection
cover in
place,
with 32%
unaware
of what
such a
policy
is.
Money worries can have a negative impact on people’s mental wellbeing, with nearly two-thirds (64%) of those surveyed saying they fret about how they would cope financially if they needed to take four weeks or more off work due to poor health.
Sick
and
on a
reduced
income
Three
in ten
(30%)
surveyed
have
nothing
in place
to
support
them
financially
should
they be
ill or
injured,
while
29%
would
rely on
Statutory
Sick
Pay,
which at
£99.35
per week
for up
to 28
weeks
(tax
year
2022/23),
pays
much
less
than
many
people
need to
cover
the cost
of
living,
which
continues
to rise.
If on long term sick and on a reduced income, many would use their existing savings (45%), make reduced payments (33%), or borrow money from family or friends (25%) or use a credit card or loan (15%). However, during the pandemic a third (34%) of people had already dipped into their savings, meaning they may now have less to fall back on.
Longer-term
financial
impacts
As
a result
of this
situation,
more
than
half
(55%)
admit
they
could
only
survive
for
three
months,
while
more
than a
quarter
(27%)
would
struggle
after
just one
month.
The
additional
financial
pressures
of being
off sick
for four
weeks of
more
could
push
people
to
prioritise
their
household
expenditures.
The top
five
things’
people
surveyed
prioritise
include
utilities
(67%),
mortgage/rent
(65%),
food
(56%),
insurance
i.e.
(car/home/pet
(15%)
and
internet/broadband
(13%).
As well as the immediate impact of long-term sickness, many people are also concerned about the longer-term financial impacts, with almost half (49%) of those surveyed saying they worry about the impact on their ability to get credit in future. This is particularly an issue for the self-employed, where 43% worry about losing customers and just over a third (36%) worry that their business would have to fold.
Source
data:
[1]
Survey
conducted
by
Censuswide
for
Nationwide
between
10-14
February
of
2,003
people
who
are
self-employed
or
employed
but
receive
Statutory
Sick
Pay
when
off
work
through
illness
or
injury.
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