How would you cope if your income stopped due to illness, accident or injury?
Name: Jack
Job: Plasterer
Contract type: Self-employed
Problem: Cancer
What if you were taken ill or injured?
Jack is a 28 year old self-employed plasterer who works for a large building firm, however, as a contractor he is not entitled to the benefits offered by the building firm to their permanent employees. As he is self-employed he is also responsible for paying for his own tools and van.
Jack and his partner who is a stay at home mum have a 2 year old boy, live in a rented two bed flat and are trying to save for a house deposit. They try to have a night out once a week and Jack attends the gym. On Sundays he plays football followed by the pub. Their out goings are rent & utilities, phone, Sky, gym membership and lots of things for their little boy.
Jack is the sole provider for his family, and currently has £7,000 saved for a house deposit.
Jack hadn’t been feeling well for a few weeks and has now been diagnosed with bowel cancer which requires immediate treatment. This means he will not be able to work for an unknown period of time.
As Jack is self-employed he is not eligible for Statutory Sick Pay. Since he won’t be working while undergoing treatment it means he has no income to support his family. They will have to rely on what they have saved for their house deposit to be able to pay their rent but that isn’t a viable long term solution.
Answers to your questions
Up to 70% of your earnings can be insured and because the benefit you receive is tax-free, it equals a higher proportion of your take-home pay.
An Income Protection Plan will give you, and those who rely on you, peace of mind when you need it whether you are employed or self-employed.
British Friendly Income Protection is available to UK residents who are working and are aged between18-64.
This policy is medically underwritten and we will take a detailed medical questionnaire from you when you make your initial application. On some occasions, British Friendly may require you to have a Medical Tele-Interview, you will be advised if this may be the case and a suitable time will be arranged with you to carry out the interview.