To wonder how you get by on SSP?

[CanItReallyBeSo]

Posting for traffic...

Mate of mine has chopped off the end of several fingers at work and been off for three weeks now. Going to be a few more as needs an op and his job is quite physical (construction).

He told me today he's only getting SSP which would go on for up to three months, although he shouldn't be off that long. Looking online it's only £88 a week and taxable. His monthly mortgage is £1200.

How do people with a normal lifestyle get by in the fallout to an industrial accident? Seems only option is using savings or accruing debt. Even UC isn't much extra I'm assuming.

For some people they aren’t able to have income protection or life and critical illness because of pre existing conditions- so insurers do not offer them cover at all. They are excluded from being able to protect themselves- which is wrong ! But true. So not everyone has the option to insure themselves.

Would it work that way though? If his bosses’ Company is insured wouldn’t it be straightforward?

The only insurance I have is car insurance - and that's only because I'm legally obliged to, otherwise I wouldn't bother with it

Good for you. Buildings insurance is also mandatory, I do hope you're well set up if you do become ill or are unable to work.

You claim what you can. I found you get quite a lot of tax back as you’ll have overpaid. Speak to a solicitor, employers have liability insurance for a reason. Normally time off work, physio costs can be included in a c lol so if employer liable.

I know someone claiming against their employer it’s currently pretty straightforward. Their solicitor talks to insurance company solicitor. They do not discuss it with work directly.

We get sick pay at work then when that runs out we have insurance to cover the mortgage.

Friends who are builders in self employed jobs all have insurance too. I learned this when my friend’s husband broke his leg last year. In a discussion with other builders it seemed fairly standard.

None of us are crazy rich.

Buildings insurance mandatory? Since when?

Since forever if you have a mortgage.

Exactly which is why i plan to do it for my kids when they turn 18 so it's in place. You don't need to be working for CIC.

They're not, there are policies starting from £9 including CIC and over 50s life cover if you just need funeral cover etc which start from small amounts too.

Define expensive though. It's relative to importance- for example I go without Sky TV (I'm not Rishi) in order to prioritise other things. To me my protection policies and contributions into pensions fall into the same category as paying my mortgage and utility bills. I'd sacrifice food if I ever somehow fell onto really hard times (move to beans on toast everyday for example - I don't mean not eat at all) to maintain them as they are very important. More people need to hold this view in my professional opinion. If this thread encourages just 1 person to seek out some sort of appropriate cover then I'm happy.

That isn't the law though! That's only a mortgage condition - other than that, you're not obliged to have any insurance policy on your house, or whatever else (except motor policies)

If you have a fire for example and you don't have buildings insurance the bank will recall the debt since it can't recoup the funds through repossession. It would ruin your life and your family's and it is extremely likely something will happen to your home over a lifetime. Is it really worth risking that for the sake of around £200 a year? Just because it's not 'the law' 🙄

Here we go. I literally said to you that's a mortgage condition- so yes you're obliged to have a policy in place. Whereas those renting, without mortgages don't have to have one, and there is no law that compels you to have one. That was the point I was making.

Well obviously, I originally said if you have a mortgage. That excludes everyone who doesn't. It's not a law, but lots of things are lot law but are worth doing.

That's for the individuals to decide.

Yes but as I described above its a no brainer. A bit like convincing some people the earth isn't flat sometimes though.

Goodnight.

There’s this - it’s tiny though - but I don’t know whether it is means tested. Don’t think so.

https://www.gov.uk/industrial-injuries-disablement-benefit/what-youll-get

Right. But CIC and life insurance is not going to pay out for OP's friend. Or the many other short to medium term illnesses that people end up having to go on SSP for.

So can you enlighten us of a decent income protection insurance which is affordable for people with long term health conditions? Because my broker couldn't find one.

"For the last few years, SSP has to be paid entirely by the employer since the Govt changed the rules and stopped financing any of it."

Gov stopped it many years ago, only bought it back for a short period for covid, and once again has stopped it.

Most of the public don't seem to know this.

They're not, there are policies starting from £9 including CIC and over 50s life cover if you just need funeral cover etc which start from small amounts too.

What cover does £9 buy you?
Over 50s excludes everyone under 50 obviously….

Depends what the health conditions are. There are alternatives such as met life, Hospital cash plans and many others.

Define expensive though. It's relative to importance- for example I go without Sky TV (I'm not Rishi) in order to prioritise other things. To me my protection policies and contributions into pensions fall into the same category as paying my mortgage and utility bills. I'd sacrifice food if I ever somehow fell onto really hard times (move to beans on toast everyday for example - I don't mean not eat at all) to maintain them as they are very important. More people need to hold this view in my professional opinion. If this thread encourages just 1 person to seek out some sort of appropriate cover then I'm happy.

I know what my friend pays for her life insurance. What policies do you have experience of that cover those with pre existing conditions? I’m interested in the cheap ones?