Furlough – A once in a Lifetime Government funded Income Protection Scheme?
We really are in unprecedented times and whatever your political views, this Government has spent £10s of Billions propping up the economy and attempting to save jobs.
BUT have you given a thought as to where you would be now if the crisis weren’t so huge? What if it was just an epidemic rather than a pandemic? Not big enough to warrant Government intervention but big enough to mean that you were ill for a while, you lost your job or your employer closed?
Would you manage on just £95.85* per week Statutory Sick Pay (SSP) if you are too ill to work (paid by your employer for up to 28 weeks)? Or up to £58.90 per week (if you’re under 25) or up to £74.35 a week (over25) Job seekers allowance
We have Accident, Sickness and Unemployment protection and Income Protection products which can be tailored to your needs and circumstances, these can help to support you and your family by providing an income enabling you to pay your mortgage or rent so you don’t risk losing your home as well as your job.
*Correct at June 2020 https://www.gov.uk/statutory-sick-pay
*Correct at June 2020 https://www.gov.uk/jobseekers-allowance