A lot of people assume that if they suffer an accident, sickness or disability that stops them from working, the State will step in to help. Have you compared your current annual income with what you could expect to receive from the State? At present, someone aged over 25 who was earning £35,000 per annum before disability, can expect to receive state benefits of approximately £4,900 per annum*. That’s only around 14% of the previous salary.....
Ø ....could you live on just 14% of your current salary ? What sacrifices would you be prepared to make ?
Ø ....and could you survive financially for the first 13 weeks after an accident or sickness?, when the Work Capability Assessment Benefit, will be the lower amount of only £72.40 per week*.
If the answer is no then you potentially have an income protection need that we can help you with.
Please call us on 01932 830664 to speak to one of our Financial Advisers.