NICNOX:I only receive 9 days sickpay per annum with the company I work for. What insurance should I take out in the case of me getting seriously ill and having to take off a longer period of time from work?
My second question is about maternity cover. My company's policy is 6 weeks fully paid and thereafter 100 pounds per week. I know this is government minimum maternity coverage however I can't imagine anyone surviving on that let alone bringing up a child??? What precautions or insurance policies are there to protect me?
REF the first bit: You need a Personal Accident and Sickness Policy; and covers you upto 104 weeks. They're relatively cheap considering this is a benefits policy but you should consider 'deferment period' as this will affect the premium payable. Any broker should be able to offer you this type of cover.
REF the second bit: I thought all companies offer this as it's legislation? Most employers would do away with maternity leave if they could help it so unless you can find an employer who is going to support raising a baby that is not theirs for longer than 6 months, whilst their employee isn't carrying out tasks or duties for the employer then I think you are onto a no-goer. Paying any more than this is an incentive to stay off work rather than getting back into the swing of things before dramatic changes happen within the workplace. Besides-which, there would be a sudden increase in birth rates because women would be pregnant all the time for the financial security - who wouldn't, I would! (Although I'm a man, and haven't endured any child birth other than my own)
I think, currently, the balance is just about right.
Coyote