self employed sick pay ?

[jondecs]

Hi been self employed for 30 + yrs and only had to claim sick pay once way back in 1994. I have an hernia and an operation might be advised Not sure if sick pay as I knew it still exist's. anyone (self employed) had to claim sick pay recently or ~~

Thanks John.

 

[JohnD]

yes, when I was in business on my own I took out PHI (Permanent Health Insurance), and once had the misfortune to make a substantial claim. I was off work for about a year.

Policies and costs vary (ask a few Assurance companies) but what you want is a policy which pays out if you are unable to carry on your normal occupation (e.g. if you are a ballet dancer, it's no good being told, when you lose your legs, that you are still fit to work in an office).

It costs less if you specify a waiting period, e.g. 3 months or 6 months, because most people are better by then, so they don't have to pay out.

I had two policies, one with a 3-month and one with a six-month delay. I had in mind that I might get MS or something and be unable to work for the rest of my life.

For short illnesses it is more economical to just tuck some money under the mattress to tide you over.

The premium will be a percentage of the benefit. e,g, pay £20 a month, for a benefit of £500 a month; or £40 a month for a benefit of £1,000 a month (figures are made up). You can get inflation linking so that the benefit, and the premium, increase each year. If you become disabled, you no longer have to pay the premium, but with an index linked policy the benefit will increase for the rest of your life, or until you are fit. The policy will probably end when you hit 60 or some other planned retirement date. The insurers will insist that you are medically examined before you take out the policy, and at intervals during a claim.

Beware of salesmen who make their money out of selling you an expensive policy. I would avoid a Critical Illness or an Accident policy, because they only cover you for certain things, and with my luck I'd be insured for 100 events, and go down with the 101st

There are also a few Friendly Societies and Industrial Branch policies, AFAIK they are for very small amounts. i was once with the Holloway Society, I think Hearts of Oak do a scheme. Your union might have a scheme, but it might not be good value if they take a fat commission.


edit
found this http://www.thisismoney.co.uk/money/bills/article-1583955/Permanent-health-insurance.html

 

[jondecs]

thanks John D>> sorry i Missed out the word 'Statutory' sick pay.

I do have a private insurance. But haven't increased the payments etc ~~ very expensive~ and I stupidly never kept up to speed with government rules on sick pay. seems nowadays self employed wont get any statutory sick pay, only way is to claim from jobcentre plus and you have to have less than £16,000 etc ~~

 

[FiremanT]

Hi been self employed for 30 + yrs and only had to claim sick pay once way back in 1994. I have an hernia and an operation might be advised Not sure if sick pay as I knew it still exist's. anyone (self employed) had to claim sick pay recently or ~~

Thanks John.

Yes and no. It isn't like big firm sick pay. I was off for 13 weeks after a heart op. last year. You get 6 months (or is it 3?) at about £72 per week. If you have less than £16k in the bank, you can claim more. If you are off longer, you can qualify for higher payments, and if you have less than the £16k, and no other significant household income you get other benefits. It is a bit complicated, but the telephone staff are pretty good. At some point you have to go for an assessment, but luckily, and annoyingly, mine was arranged AFTER I gave a date for my return to work. I phoned to say I wouldn't need to attend, but I then got letters berating ne for non attendance

The problem is that when you are ill, it is harder to get your head around the paperwork, so I didn't claim for a few weeks. So, my advice is to do what you are doing and get it straight beforehand.

The other problem is that £72 doesn't cover m bar bill

Just as I finished tidying this up, I have just remembered there is something called "Universal benefits". I don't know if this was introduced, and if it was, my previous comments may be irrelevant. But you will get something, if you can be arzed.

 

[jondecs]

Only just found your reply many thanks . I have got to have the op , double hernia. not a big op but of course I wont be running up ladders for a while after. Job centre plus dont seem to have a clue, the lady said she thinks i should get something ( wot do we pay these people for) and she gave me yet another number to call .

It was interesting to see you do actually get something cheers for the reply t/c john

 

[denso13]

I thought it was a definite no for the self employed but this seems to suggest differently http://www.dwp.gov.uk/healthcare-professional/benefits-and-services/statutory-sick-pay/

 

[jondecs]

Been there and keeps going round in circles lol >> will have a better look when i got all day

 

[CHarr]

Hi been self employed for 30 + yrs and only had to claim sick pay once way back in 1994. I have an hernia and an operation might be advised Not sure if sick pay as I knew it still exist's. anyone (self employed) had to claim sick pay recently or ~~

Thanks John.

Statutory Sick Pay is payable to employees ONLY, and only then after a qualifying period and where earnings are above a threshold (excluding many part-time workers). If you are self-employed and unable to work through sickness or injury you may be able to claim means-tested ESA (Employment and Support Allowance): https://www.gov.uk/employment-support-allowance/overview

 

[jondecs]

yep char, that's where I end up after surfing the damn site. half the site is out of date and conflicts so even that lot sat working out their next bonus and holidays @ job centre + ( minus really) don't have a clue~~ thanks for the input. I'll wait a while till i have the op and see what's new then as it looks like universal credit is in now. >> need to be an illegal