Many people think they could rely on money from their employer, their family or the state if they couldn’t work because of long-term illness.
But recovering from an illness can take a long time.
How long would this money last?
Do you know how much sick pay your are entitled to from your employer?
Sick pay from your employer could help but it might only last a few weeks. The state may provide Statutory Sick Pay, Employment and Support Allowance, or Universal Credit, but is this enough? The calculator below is designed to give you a rough idea of whether the support from the state would be adequate to cover your outgoings.
Check what you may be entitled to at
www.entitledto.co.uk You are now departing from the regulatory site of 1 4 U Financial Solutions Ltd. Neither 1 4 U Financial Solutions Ltd nor PRIMIS Mortgage Network is responsible for the accuracy of the information within the linked site.
or go to
https://www.gov.uk/employment-support-allowance/what-youll-get You are now departing from the regulatory site of 1 4 U Financial Solutions Ltd. Neither 1 4 U Financial Solutions Ltd nor PRIMIS Mortgage Network is responsible for the accuracy of the information within the linked site.
|The state may help a little...
|..but it won’t go far
|What you could have coming in each week
|What you’ll have going out each month
|Employment and Support Allowance (assessment phase) from 1-13 weeks
|Council Tax / Rates
|Gas / Oil / Electricity
|Telephone / Broadband
Employment and Support Allowance (main phase – work-related activity group) from week 14
|Building & Contents Insurance
Employment and Support Allowance (main phase – support group) from week 14
|Car / Travel Costs
|Loan / Credit Card Payments
|Which one would you be entitled to?
|Entertainment / Holidays
|Gifts / Birthdays / Christmas
|Multiply by 4 for a monthly figure
|YOU and your INCOME
* Source ONS Oct 2023
Income Protection can provide a monthly income if you become ill with an illness that may not be ‘critical’ but is severe enough to stop you from going to work for a long time, for example, a bad back or stress. The working world has changed dramatically in recent years. One thing however remains constant and that is the fact that most of us need to work to pay the bills. Bills don’t stop arriving even if we’re sick.
This cover can pay out until retirement or shorter periods of time, if required, perhaps until the end of your mortgage term, or while you have dependent children.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
We charge a Broker Fee of £199 on application and £190 on completion of your Mortgage.
*Some forms of Bridging Finance and most Buy to Let Mortgages are not regulated by the Financial Conduct Authority.
Commercial Mortgages, Overseas Property & Mortgages, Wills, Probate, Trusts and Tax & Estate Planning are not regulated by the Financial Conduct Authority.
Pensions, Investments, Wills & Probate, Tax & Estate Planning, Overseas Property & Overseas Mortgages, Commercial Mortgages, Bridging Loans and Commercial Insurances are referred to specialist suppliers. 1 4 U Financial Solutions Ltd or PRIMIS are not responsible for any advice received from a third party.
This website is intended for people over 18 years of age who are resident in the UK only. The website and the information contained therein should not be regarded as an offer or solicitation to conduct business in any jurisdiction other than the UK. These pages provide generic information about various aspects of financial services advice that we provide. We hope they are helpful to you but they do not on their own add up to recommendations and we cannot take responsibility for anything you do in reliance on them without further discussion with us. Please do not make a decision based upon the information contained within these pages alone. Contact us for further advice to enable you to make an informed decision based upon your individual circumstances.
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Anon, March 2023 - Read more