Did you know that apparently the average family in the United Kingdom only has enough savings to see them through 18 days if they are unable to work for example due to sickness. Now this surprised me and shows how people dont really save money and seem to live life for today and not think about the future to much or how they would cope if they were unable to go out to work, myself included.
Obviously there many solutions to this problem, one of them being having some form of insurance policy to cover you if are unable to work. There are a number of different products for this and it really is a case of having to choose what you think best suites your needs. It seems the most popular is critical illness cover which will pay you a lump sum if you are unable to work due to being diagnosed with a serious illness. But an increasingly more popular option is income protection which rather than pay a lump sum like critical illness cover provides a regular income.
It is obviously not something you really want to think about to much, the thought of not being able to work due to being seriouslly ill but it is something we should all do to make sure that if the situation arose where you cant work the bills can still be paid and your family be provided for. You do really just need to find the best policy for you, whether it be critical illness, income protection or some other form of insurance policy.
good point but can u get income protection if u are a temp, if so what are the clauses?