More than two in five older workers who are unemployed blame illness or disability for their inability to find a job, research from MetLife shows. Its nationwide study of 1,000 people found that of those aged between 50 and 60 who are out of work, 43% say illness or disability stops them finding a job.
That compares to 26% who say they are unemployed because they are unable to find work. The research, carried out by Harris Interactive, also found that 20% of 50 to 60 year olds surveyed said they have a condition or disability which limits their daily activities.
Women are more likely than men to say they have a condition that limit their lives, with 25% saying so compared with 16% of men. But men who are out of work are more likely to cite illness as the reason for their lack of employment, at 52% compared to 40% of women. Stephanie Baillie, employee benefits director at MetLife UK, said that with such a high proportion of older people reporting conditions which impact on their daily lives, it is “clear that people need to consider protection products to help replace income if they are no longer able to work”.
The research is being published as part of MetLife’s campaign to raise awareness of the need for protection for those in what in terms the ‘critical decade’ before retirement.
Income protection policies are relatively low cost if taken out at a young age with a guaranteed premium. A longer deferment period can be taken to reduce payments. These policies are only if you are unable to work through accident or illness.
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