Can you be off work due to long-term sickness? Here are five interesting facts

Recently, I ran into the risk reality calculator offered by a leading life insurer to its brokers in the UK. I got inquisitive and decided to give it a try. I keyed in my name, DOB, whether I smoke or not and when I intend on retiring, and got this result thrown at me (obviously, I am not 30).

I was surprised to see those numbers, especially about being off work for two months or more due to illness, and I thought it was all a marketing gimmick.?

But then I realised that as an insurer, they couldn't make up these figures to sell policies, but still, I wanted more proof, so I decided to take it up and do my research.

The sceptic mind at?work…

As I was scouting for a reliable source of data to cross-check that information, I ran into research by the Department of work & pensions (DWP) and the Department of health & social care (DHSC).

The research was part of the Annual Population Survey (APS). The APS is the largest household survey in the UK, with approximately 170,000 working-age respondents (16 to 64 years old). The respondents are sampled to represent the UK population and are statistically significant at the 95% level.

Five interesting facts about long term sickness absence in the UK

Per the research, long-term sickness is one where an employed individual is prevented from working due to illness or injury for four weeks or more.

Here are five interesting facts from it.

1) 1 in 25 people will be off work for four weeks or more in a given year

2) 91% of those sickness last between 4 weeks and 6 months

3) Mental health and Musculoskeletal conditions are the top reasons to be off sick. However, mental health conditions are more likely to be a reason for an employed person over a self-employed

4) The longer the bout of illness, the less likely the person is to return to work.?There is an increased chance of a person not returning to work after being ill for 9 months or more

PS: Leaving work means taking time off the current job, taking an early retirement or going to do something else (but not returning to work).

5) Again the longer the bout the illness, the more likely is the person to return to work with adjustments (reduced hours, different job...

For those interested in learning more about this research, you can follow this link

Key takeaways

So, the chances of us being off work for the long term due to illness is real; putting it in context, it is as likely as missing a flight.

Life can throw a curve ball. We all want to believe that it won't happen to us, I did so too, but the facts paint a horrifying picture.

Here are three things we could do to prepare for the worst before it's too late.

1. Build up savings
2. Understand the state benefits
3. Buy a policy to insure your income