Illness insurance
Autor wątku: Silvia Janicek

Silvia Janicek  Identity Verified
Wielka Brytania
Local time: 12:13
Członek ProZ.com
od 2016

angielski > słowacki
Aug 28, 2019

Dear colleagues,

how do you go around potential illness - do you have any type of illness or health insurance? If the area is relevant, I live in the UK. Statutory sick pay here is very low so I wonder if there's any worth in paying to an insurance company.


 

Marjolein Snippe  Identity Verified
Holandia
Local time: 13:13
Członek ProZ.com
od 2012

angielski > niderlandzki
+ ...
Own buffer Aug 28, 2019

I just make sure I have enough money in my savings account to bridge a few months to a year.
I know some people become members of a Bread Fund (I am pretty sure these exist in the UK too) where a small group of people reserve a sum every month (put it into a separate account or so, usually their own but one they keep especially for the fund) and this can be used to assist a member who becomes ill or unable to work for a limited time. It may be more limited than a "real" insurance, but it a
... See more
I just make sure I have enough money in my savings account to bridge a few months to a year.
I know some people become members of a Bread Fund (I am pretty sure these exist in the UK too) where a small group of people reserve a sum every month (put it into a separate account or so, usually their own but one they keep especially for the fund) and this can be used to assist a member who becomes ill or unable to work for a limited time. It may be more limited than a "real" insurance, but it also costs less. And if nobody needs it, everyone gets to keep their money.
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Silvia Janicek
 

Eliza Hall
USA
Local time: 07:13
Członek ProZ.com
od 2018

francuski > angielski
+ ...
Short-term disability Aug 28, 2019

In the US this would be covered by a short-term disability policy (or long-term if you were sick for more than 6 weeks). Such coverage is often offered as a benefit by employers, but you can also buy it independently.

https://www.patriotsoftware.com/payroll/training/blog/difference-short-term-long-term-di
... See more
In the US this would be covered by a short-term disability policy (or long-term if you were sick for more than 6 weeks). Such coverage is often offered as a benefit by employers, but you can also buy it independently.

https://www.patriotsoftware.com/payroll/training/blog/difference-short-term-long-term-disability-insurance-coverage-qualify/
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Joe France  Identity Verified
Wielka Brytania
Local time: 12:13
Członek ProZ.com
od 2016

niemiecki > angielski
+ ...
I do have such a policy Aug 29, 2019

Hi Silvia,

I do have such a policy in the UK, a quite a low rate - around £6 a month I think. It basically covers me for anything semi-serious so that I know that the mortgage / essential bills will still be paid if I'm incapacitated for a prolonged period. Like any insurance, if you make a claim, your premiums will go up, so I've never touched it as yet.

I had (very) minor surgery this year: if it had taken me a couple of weeks to recover, I might have considered clai
... See more
Hi Silvia,

I do have such a policy in the UK, a quite a low rate - around £6 a month I think. It basically covers me for anything semi-serious so that I know that the mortgage / essential bills will still be paid if I'm incapacitated for a prolonged period. Like any insurance, if you make a claim, your premiums will go up, so I've never touched it as yet.

I had (very) minor surgery this year: if it had taken me a couple of weeks to recover, I might have considered claiming for it. However, as I was fit and healthy (enough to translate) after only a few days, it really wasn't worth make a claim. As I see it, it's a near-negligible expense for a small safety net.

I'm also not sure that freelancers qualify for SSP - in fact, I'm almost certain they don't. See https://www.gov.uk/statutory-sick-pay/eligibility, e.g.

Eligibility
To qualify for Statutory Sick Pay (SSP) you must:

be classed as an employee and have done some work for your employer
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Manuela Junghans  Identity Verified
Wielka Brytania
Local time: 12:13
Członek ProZ.com
od 2004

angielski > niemiecki
+ ...
Hi Joe Aug 29, 2019

Would you care to share which UK insurance that is, i.e. with which provider? Thanks.

Manuela


Silvia Janicek
 

Dan Lucas  Identity Verified
Wielka Brytania
Local time: 12:13
Członek ProZ.com
od 2014

japoński > angielski
Income protection doesn't come cheap Aug 29, 2019

Silvia Janicek wrote:
how do you go around potential illness - do you have any type of illness or health insurance? If the area is relevant, I live in the UK. Statutory sick pay here is very low so I wonder if there's any worth in paying to an insurance company.

The geographical area is relevant. I have a wife and children, and I'm the sole earner. I therefore have a fairly substantial insurance policy that will pay me up to £2,000 a month for a period of up to several years if I am ill or otherwise incapacitated. It costs around £45 a month, so it's not negligible, but for me the peace of mind is worth it.

Regards,
Dan


Silvia Janicek
 

Silvia Janicek  Identity Verified
Wielka Brytania
Local time: 12:13
Członek ProZ.com
od 2016

angielski > słowacki
NOWY TEMAT
.... Aug 29, 2019

Joe France wrote:


I do have such a policy in the UK, a quite a low rate - around £6 a month I think. It basically covers me for anything semi-serious so that I know that the mortgage / essential bills will still be paid if I'm incapacitated for a prolonged period. Like any insurance, if you make a claim, your premiums will go up, so I've never touched it as yet.

I had (very) minor surgery this year: if it had taken me a couple of weeks to recover, I might have considered claiming for it. However, as I was fit and healthy (enough to translate) after only a few days, it really wasn't worth make a claim. As I see it, it's a near-negligible expense for a small safety net.

I'm also not sure that freelancers qualify for SSP - in fact, I'm almost certain they don't. See https://www.gov.uk/statutory-sick-pay/eligibility, e.g.

Eligibility
To qualify for Statutory Sick Pay (SSP) you must:

be classed as an employee and have done some work for your employer


Thank you Joe. I'm quite taken aback by a no SSP for sole traders - we pay taxes and NI so we should be treated same as "regular" employees?

If it's not a confidential information, would you mind to share what provider do you use? I have found some on the Internet, not sure which one to go for.


 

Samuel Murray  Identity Verified
Holandia
Local time: 13:13
Członek ProZ.com
od 2006

angielski > afrikaans
+ ...
@Silvia Aug 29, 2019

Silvia Janicek wrote:
Do you have any type of illness or health insurance? I live in the UK.


Income protection insurance is very cheap in the UK (compared to my current country of residence). Check out the following comparison web site, for example: https://www.drewberryinsurance.co.uk/income-protection-insurance. The longer you want the payment to continue, and the sooner you want the payments to start, the more expensive the premiums. For example, a 2-year payout of GBP 2000 after 4 weeks is GBP 50 per month, but if you change that to 13 weeks, the premium drops to GBP 25.00 per month.

In my country of residence, insurance that starts paying out after less than 100 weeks is so expensive that it's almost not worth it, which is why some freelancers form cooperative gift clubs called "bread funds" that cover the first 2 years of illness before the insurance kicks in. Bread funds don't work in the UK, though, because it relies on micropayments, and bank transfers are very expensive in the UK (oh, and like I said, insurance is cheap).


Silvia Janicek
 


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