A total of 12,000 workers in Britain’s agriculture, forestry and fishing sectors suffered long-term sick health between 2019 and 2022.
The latest data from the Health and Safety Executive (HSE) also stated that there were 11,000 non-fatal injuries during the same period.
Rural insurer NFU Mutual is urging farmers to protect themselves from unforeseen time off after the Office for National Statistics revealed a record number of UK workers are currently off with long-term illnesses.
David Nottingham, protection expert for the insurer said: “Farmers know better than most that unexpected events can have a dramatic impact on their business.
“Unforeseen illnesses and accidents can put a strain on the farm, particularly if it is heavily reliant on one or two people.
“But there are a number of ways to guard against those problems and provide a lump sum of cash or an income to secure the future of the farm and help keep it running.”
Agriculture insurance cover has many uses
These included critical illness cover which gives the client a lump sum of cash if you’re diagnosed with a serious illness specified under the cover.
It can be used to repay farm borrowings, pay for home adaptions or meet other commitments that may be needed.
Another is income protection which can provide a regular income if the farmer is incapacitated and unable to work whether through illness or accident.
‘Life is unpredictable’
For farmers, this can provide a valuable safety net that can be used to pay farm borrowings and in some circumstances can prevent the need to put the ‘For Sale’ board up.
Mr Nottingham added: “Life is unpredictable and despite improving safety on farms, accidents can still happen.
“An ageing workforce can sometimes lead to a higher likelihood of certain conditions which could stop you from working.
“Income Protection can provide peace of mind that you can still have an income so you can get help running the farm in your absence.”
A third option is farm partnerships whereby farmers in partnerships can also use life insurance and critical illness to protect the business.
“Those that co-own businesses need to consider what would happen if a co-owner died or became seriously ill,” he said.
“They or their family may want to sell their interest in the business. Putting in place the right cover and agreements can help the continuing owners retain control of the business and protect the outgoing owner and their family.
“It’s important to speak with a professional financial adviser who understands agriculture and your business to plan effectively.”
In the UK, latest figures show there is £1.2 billion paid out in critical illness cover a year, with more than 90% of claims accepted at an average pay out of nearly £68,000.
