Are you risking your financial security? In 2017 only 300,000 people in the UK had income protection cover. Whether self-employed or your employer does not offer sick pay, how would you cope financially if you were unable to work as a result of illness or injury? Likewise, how would your family manage without your income?
Statutory Sick Pay (SSP)
As of 2018 the current level of statutory sick pay is £92.05 per week. Comparatively, the living wage is currently set as £276 per week*
*We’ve calculated the living wage as £7.38 per hour for 37.5 hours per week. Figures are correct as of January 2018.
Each year, 1 million workers are unable to work due to sickness or injury.
In 2017, 87.2% of income protection claims paid out to the tune of £604 million.
Cost of income protection
For a 50-year-old carpenter & joiner on £24k pa, a policy paying out £1200pm, tax free could be as low as £26 per month. For a 30-year-old this price would go down to under £10 per month. As a result, peace of mind has a small price to pay.
Be Financially Secure by calling us now!
If you want to safeguard against illness or injury or for more information on how we can help you be financially secure, call BFS Co on 01273 495446 or email firstname.lastname@example.org.