• Self-employed workers are taking 3.9 sick days per year, compared to employed individuals who take an average of 6 days per year

• More than a quarter (28%) of self-employed adults are concerned about taking unpaid time off work if they were hospitalised from an injury

• More than one in four (27%) advisers say there is more demand from self-employed workers wanting to protect themselves

Self-employed individuals are taking 35% less sick days than employed people, indicating an inability to take time off work because of the potential of lost income, according to protection and employee benefits provider, MetLife UK.

MetLife’s Everyday Risk Report explores the scale of risk individuals face in their everyday lives and uncovers what this means for workers including the self-employed population. 13% of the UK’s workforce is self-employed, the equivalent of 4.23m people. On average, they are taking 3.9 sick days per year, compared to employed individuals who are taking an average of 6 days per year. Self-employed people are unlikely to have access to paid-for sick leave, whether that be from an unexpected accident or an illness.

The self-employed are therefore reliant on their own savings or financial support from other means, such as partners, family members, or friends if they need to take time off work to recover from an accident or illness. Yet the Risk Report highlights that self-employed individuals typically earn less at the highest levels of income than those employed - just 69% of the self-employed earn over £30k a year, compared with 81% of those employed, making this cohort more financially vulnerable.

MetLife also asked self-employed consumers what would concern them about having to stay in hospital, other than their health. Having to take time off work was the top concern (31%), followed by having to take unpaid time off (28%). Both these reasons scored higher among this group when compared against full-time employed adults, with 27% and 18% saying the same respectively.

When thinking about what financial support they would need if they have, or were to suffer from an injury or illness, a quarter of self-employed adults said they had or would have to use their savings, compared to 18% of full-time employees.

Advisers echo these concerns, with one in five (20%) advisers saying their self-employed clients' biggest financial concern in the next 12 months is having to take time off work due to an injury or illness. A similar number (21%) said it was having to ask their parents or family for financial support. 

With so many concerned about the financial implications of having to take time off work due to an injury or illness, it’s clear that individuals need some form of protection to cover them for such possibilities. Indeed, 27% of advisers say there is growing demand from self-employed workers to protect themselves.

Rich Horner, Head of Individual Protection at MetLife commented: “The self-employed form a significant part of the UK workforce, but worryingly are one of the most financially vulnerable groups, particularly when it comes to any sickness or injuries. They do not have the same benefits in place from employers if they were to need to take time off work to recover, which explains why they take fewer sick days in a year compared to those in full time employment. Any time off work could result in a loss in income or additional financial consequences, such as needing to dip into their hard-earned savings or relying on other family members for financial support.

“As highlighted in our Everyday Risk Report, having to take unpaid time off work due to hospitalisation is one of the top concerns for self-employed workers. We know accidents can happen at any time, anywhere, and to anyone, so its vital people have the right protection in place to cover them for such possibilities. Encouragingly, there is a growing demand from this group to find cover that protects them, but it’s also vital that advisers are helping to educate their self-employed clients on what protection is available to them to reduce their exposure to financial repercussions of an accident or illness.”