The Confederation of British Industry released figures recently, indicating that employers in the UK lost £11.6bn last year due to staff sickness. Whilst these figures are huge, the CBI reported that the number of actual days lost due to sickness was the lowest in 15 years.
Our view
Employees do not realise the generosity of employers that pay their salaries regardless of whether they are working or off sick. The only legal obligation on an employer is to pay Statutory Sick Pay, once an employee has been off work for 4 days. Depending on your circumstances, SSP is around £60 per week and is paid for 28 weeks through employers.
On the other hand, employees that would only receive SSP if they were off sick should consider protecting their income. Could you keep your current lifestyle on £60 per week?
Visit the Life Cover Adviser.com to find out more. Get a quotation for income protection cover (permanent health insurance ) now.
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