I wonder what you folks have in place regarding income protection?
The reason I am thinking about this is that I am climbing in and out of the back of a truck,
using a pallet truck and tail lift , pushing pallets over ground that is not perfect and with gradients.
If I am unable to work I don’t get sick pay from my employer and basic sick pay is peanuts.
I would think that my work situation is very similar to many others on these forums.
WADR, if you feel you need income protection insurance then this industry isn’t for you. Climbing in and out of trailers, using pallet trucks, tail lifts, pushing pallets around is pretty much THE job. You can easily reduce your exposure to injuries to virtually nothing by using some basic common sense.
SorryRob but you are naive, a friend of mine working within our company fel off the top of the trailer and broke his leg, no fault of his own. Although it is part of the job why should he suffer financially through illness because of the nature of his job. it’s not the 1800’ anymore.
I appreciate that there’s no right or wrong answer to his questions, it does of course depend on individual circumstances. I do still stand by what I said - if you use your noggin that your were born with then your chances of injury are slim. Of course, the unexpected can always happen and you just happen to be in the wrong place at the wrong time (perhaps like your friend) but shelling out a non-too-insiginificant portion of your income every month on an insurance policy really is overkill imho. As mentioned by others, they’ve got more loopholes in them than a bowl of cheerios and generally aren’t worth the paper they’re written on, just like any other insurance policy.
If you really insist on having some sort of financial cover “just in case” then do as others have said and build up your own personal emergency fund. The good thing about doing that is the cash will just sit there and accumulate as the years go by, whereas your insurance policy will cost you umpteen hundred quid a year every year regardless.
We have a death or critical illness cover insurance for our mortgage but other than that I’d go down the have 3 months wages in savings route as a minimum and try to minimise any debts credit cards etc
I slipped a disc 2 years ago and still don’t know for sure how I did it but I ended up off work for 6 months. I’m glad I had income protection insurance because they paid out without any problems when I was fully expecting a fight to get the money. The lady that dealt with my claim would phone up from time to time just to see how I was doing, all very human and not what I expected from an insurance company. They’re called Friends Provident and I still pay my policy because in the back of my mind I’m worrying that something like that will happen again. The surgeon told me another 2 discs don’t look too clever and they might go someday too (oh great). I think it’s a good idea to have the insurance, I can see where folk are coming from with the idea of putting savings aside but I never knew I was about to knacker my back so fat lot of good starting a savings account would have been if I’d hurt myself the next day. Nobody knows when they might injure themselves and until you’ve properly hurt yourself you’ll likely think the insurance is unnecessary. I was probably the fittest I’ve been in my life at the time I slipped the disc so the injury was a huge blow because my back will never be the same again but at least I know if it does go my mortgage and bills will be paid.
I have critical illness for if something big happens and I have a policy with Cirencester Benefit Society that costs me around £40.00 a month which pays a certain amount every week ( sorry can’t remember how much, took it out a while back) from day one of your illness. What I particularly liked about this policy is that if I don’t claim on it, I get a lump sum back when I’m 60, so I think it’s a good deal. I don’t know if this is still available or not, worth a call if you are interested. It was recommended to me by my IFA ( I’ve not got that much money but I try and make the most of it ) and he’s been brilliant with what he’s recommended and I’d happily pass his number on to anyone who was looking into their finances and lived in the Manchester area. And no i don’t get commission off him!
albion:
I have critical illness for if something big happens and I have a policy with Cirencester Benefit Society that costs me around £40.00 a month which pays a certain amount every week ( sorry can’t remember how much, took it out a while back) from day one of your illness. What I particularly liked about this policy is that if I don’t claim on it, I get a lump sum back when I’m 60, so I think it’s a good deal. I don’t know if this is still available or not, worth a call if you are interested. It was recommended to me by my IFA ( I’ve not got that much money but I try and make the most of it ) and he’s been brilliant with what he’s recommended and I’d happily pass his number on to anyone who was looking into their finances and lived in the Manchester area. And no i don’t get commission off him!
I’ve got similar with the company ‘Insurity’ but it’s a 9 year term with (I think) 85% back for no claims in the period.
I was the other Day watching tele when the Commercial said Santanter has Money to give away.
popped in to open an Account.
No,not just.
I had to agree to swap Direct Debit to it.Well they do it for me,and i have the Company telling new Account.
After 3 month i get £100.- for free. Just right for Christmas
if you,i dont know what,but if you have they are looking for,you may get £300.-
They give 5% on every Penny in your Current Account
They give 2.5% for every Penny in your Saving Account So well,move the Money you need every Week to your old Account,and just leave there for Direct Debit and every you don’t need,and you will see how it build up.At last you may have more then a Injurence would pay.
You just have to use it of if you lose the Job as you not getting jobseeker allowance as long as you Rich
I wonder what you folks have in place regarding income protection?
The reason I am thinking about this is that I am climbing in and out of the back of a truck,
using a pallet truck and tail lift , pushing pallets over ground that is not perfect and with gradients.
If I am unable to work I don’t get sick pay from my employer and basic sick pay is peanuts.
I would think that my work situation is very similar to many others on these forums.
WADR, if you feel you need income protection insurance then this industry isn’t for you. Climbing in and out of trailers, using pallet trucks, tail lifts, pushing pallets around is pretty much THE job. You can easily reduce your exposure to injuries to virtually nothing by using some basic common sense.
SorryRob but you are naive, a friend of mine working within our company fel off the top of the trailer and broke his leg, no fault of his own. Although it is part of the job why should he suffer financially through illness because of the nature of his job. it’s not the 1800’ anymore.
I appreciate that there’s no right or wrong answer to his questions, it does of course depend on individual circumstances. I do still stand by what I said - if you use your noggin that your were born with then your chances of injury are slim. Of course, the unexpected can always happen and you just happen to be in the wrong place at the wrong time (perhaps like your friend) but shelling out a non-too-insiginificant portion of your income every month on an insurance policy really is overkill imho. As mentioned by others, they’ve got more loopholes in them than a bowl of cheerios and generally aren’t worth the paper they’re written on, just like any other insurance policy.
If you really insist on having some sort of financial cover “just in case” then do as others have said and build up your own personal emergency fund. The good thing about doing that is the cash will just sit there and accumulate as the years go by, whereas your insurance policy will cost you umpteen hundred quid a year every year regardless.
I agree with you regarding building up your own fund HOWEVER!!! I have a wife who likes to spend cash. I dont think it would be there for very long…haha
) and he’s been brilliant with what he’s recommended and I’d happily pass his number on to anyone who was looking into their finances and lived in the Manchester area. And no i don’t get commission off him! 
So well,move the Money you need every Week to your old Account,and just leave there for Direct Debit and every you don’t need,and you will see how it build up.At last you may have more then a Injurence would pay.