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In today’s society we are faced with an increasing ageing population so people are working longer.

As a result you’re more likely to get sick while working and may need some support to pay your bills if you are unable to work due to illness.

Therefore young and old alike should give consideration to sickness insurance and self employed sickness insurance. We all take the time to insure our property and cars but often overlook our most important asset, ourselves.

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What is sickness insurance?

Sickness insurance is a safety net should you become sick and are unable to work. It’s important to read your policy carefully to ensure that you have the cover that best suits your needs.

Whilst all sickness insurance policies have the same objective of maintaining the consistency of your income whilst you’re unable to work, they can operate in a variety of different ways. Whilst one policy may pay out in a single sum, another will provide ongoing financial support to compensate a percentage of your salary as agreed in your cover. 

sickness insurance

How does sickness insurance work?

The manner in which you receive your insurance payout is dependent upon the cover that you have as mentioned above, however it is vital that you have read the documentation properly and provided honest information. Any existing conditions that you have may not be covered within the new insurance policy you select and should you fail to disclose existing conditions, you may find yourself in breach of the agreement and unable to make a claim at all.

sick pay insurance

Is statutory sick pay enough for me?

As of April 2016, statutory sick pay provides you with only £87.55 per week as a full time employee, which could be quite a substantial difference from your normal salary at work. For many of us, this can add a lot of further strain to an already stressful time; wouldn’t your life be a lot easier if you had sickness insurance cover in place?

What amount of sickness insurance cover is right for me?

An important factor to consider when entering into a sickness insurance policy is the length of time you will be covered. These can vary from as little as 12 months for short term coverage or may continue as a percentage of your salary right up to retirement, should it be classed as a long term illness.

The variable levels of cover can have a large impact on the value of your quote. You can find the right level of cover for you and submit a request to an array of the UK’s leading insurance providers with us.

What are the chances of me being accepted for sick pay insurance?

This is a variable that will come down to your personal circumstances and the insurance providers in question. Some sickness insurance providers boast “Guaranteed Acceptance for nearly all occupations”, however that doesn’t provide a definitive guarantee.

Whilst you may find a provider whom actually guarantee acceptance, this doesn’t necessarily mean that this is the best option for you. Each insurance providers assigns a value to risks via their own processes, meaning that you will get different quotes from different providers.

Where can I get a fair price for my sickness insurance?

The importance of sickness insurance cannot be overstated. Don’t delay, take the time now to insure your future income. You can compare leading sickness insurance providers’ right here with us and we can help you maximize your savings on the policy. Find the right level of cover for you and scan for the most affordable quote in just a few simple clicks.

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