With women living longer than men, there’s a clear need for education and advice to boost women’s financial security.
Protecting the youngest and oldest tiers of the workforce – Only 31 per cent of 20-29 year old and 34 per cent of 55+ year old workers had income interruption-related insurances.
In the UK, this figure was just 16 per cent for the youngest workers. This compares to around 44 per cent of 30-54 year olds.
As younger workers face increased challenges through their careers and rising state pension ages necessitate longer working lives, this is a cause for concern and one where advisers can help.
Finally, the survey also highlighted the importance of country context. Even those in the same region or with similar social protection systems showed marked differences. This is why we conducted a case-by-case consideration through country profiles, in addition to our global findings.
Insurers and advisers are among many actors with a clear stake in ensuring agile workforce protection.
Later this year, Zurich and the Smith school will begin to outline how individuals, public and private organizations can play their part.
Today’s workforce protection problem is a challenge for us all. But together, we can meet it.
Nick Homer is head of corporate risk, UK at Zurich