Tis going round ok .
Iâm not at all well.
Iâve an awful pain in my stomach.
Get well Copper.
Mind yourself pal.
1 Like
constipation?
Dodgy kebab?
A pot of tea is your only man here.
Illness protection insurance⌠Is it worth having? What are the pitfalls? Whatâs the likely cost?
Very expensive afaik. Imho, having a good life assurance policy and vhi is much better. If I got struck down with serious illness, at least I know my dependants would be looked after.
2 Likes
This.
Was advised by a good mate of mine who is a financial advisor that many of those illness benefit policies have so many loopholes that you just never get paid. Taking out a 10 year life assurance policy on yourself or your other half is likely far more beneficial.
ok mate, he is looking for some sound financial advice, if you arenât an expert no need to comment
1 Like
Say you got struck down with a serious illness and couldnât work for 2 years⌠Whatâs providing income to your family in year 2 of your sickness for example?
1 Like
Life if full of what ifs. I know of no one who that has happened to. Now, it obviously does happen but its up to each individual to make a choice based upon personal circumstances.
I would be fine it that happened to me.
Depends on your employment T and C really. If you get paid on sick leave indefinitely (teachers would I assume?) Then good life cover and critical illness cover is plenty.
If you stop getting paid after 6 months like many would then you def need to think about it, a chronic illness that lasted a few years but didnt kill you would see you bankrupt or not far off it. Cost of being ill is huge, who pays the mortgage if your partner has to care for you etc
Youâre right though, the cost of a worthwhile policy is prohibitive
Certified Sick Leave
Ordinary Illness
A teacher who is absent from duty because of personal illness or injury may be granted paid ordinary sick leave as follows:
-
A maximum of three months (92 days) fully paid in a year.
-
Followed by a maximum of three months (91 days) on half pay.
This is subject to a maximum of six months (183) days paid sick leave in a rolling four year period.
Critical Illness
A teacher who becomes incapacitated as a result of critical illness or serious physical injury may be granted extended paid sick leave, subject to specific criteria as follows:
- A maximum of six months (183 days) on full pay in a year.
- Followed by a maximum of six months (182 days) on half pay.
This is subject to a maximum of 12 months (365 days) paid sick leave in a rolling four year period. If a teacher has an ordinary illness within a 12-month period of the date of return to work following the critical illness, the critical illness provisions will apply.
1 Like
Thanks. Wasnât having a pop at teachers.
Those terms are about standard id say, maybe slightly better. Reinforces the point though. A long term chronic illness would see most families hit breaking point soon enough.
My terms are similar to those. I dont have have an income protection policy
1 Like
Why not?
I know you wereânt buddy.
1 Like
So after 12 months on a long term illness it is social welfare disability?
Yep.