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According to consumer research conducted in December 2007, one in eight people were not able to lead what could be considered as a normal life, due to illness or injury for an average of three weeks, or even more in this year 2008. Disability and illness benefits, were paid to up to 7.2 million, in August 2007 and is further expected to increase this year. Healthy life expectancy as a percentage of total life expectancy is falling.
Women make up the majority of those carers who specialise in caring for the ill and disabled, which often sees their incomes suffer as a consequence. Even consumer confidence in the NHS has fallen to an all time low, despite billions of pounds being invested into the service. With all these factors in place, private medical insurance PMI, and income protection are still only recognised as small percentage purchases.
The research unearthed that 39.3% of respondents would fork out for treatment if they needed it, instead of taking out insurance. Paying for private treatment is an important trend, as well as a chance for specialist credit issuers to work alongside healthcare providers.
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