What help is available if you are sick or injured and can’t work?
May 30, 2019
May 30, 2019
For self-employed professionals, one of the biggest issues is that when you are not working, you are not earning. A worst-case scenario is being unable to work for extended periods of time due to long term sickness or injury. Here, we provide an overview of some of the help that’s out there, if the worst should happen.
Despite not being able to claim statutory sick pay, government assistance is available for people who are self-employed in the form of the Employment and Support Allowance (ESA).
If you are unable to work this will provide you with financial support. The amount you will be able to claim and for how long will depend on your age, circumstances and level of disability. For the first 13 weeks after you begin to claim you will receive an ‘assessment rate’ of up to £57.90 a week for those under 25 and up to £73.10 a week if you’re aged 25 or over. You will then be assessed and based on this will be placed in one of two groups:
For further information, visit the Government website.
Grow your business
Exclusive 10% discount on Trade Skills 4U Courses for Checkatrade Members
Income protection insurance, also known as self-employed insurance or income replacement insurance, is a policy taken out to provide an income should you be unable to work. Although, as with any insurance, it requires a monthly premium to be paid, it will typically provide between 50% and 75% of your gross income depending on the policy. These insurance products will usually pay out for between 12 and 24 months and may offer as much as £1,500 to £3,000 per month.
While this does require a financial investment, it does provide a much higher level of income while you are unable to work, which may be particularly valuable if family members rely primarily or solely on your income.
In addition, if you are unable to work due to a specific illness, dedicated support may be available from charities. For example, in the UK around 50% of men and 45% of women will develop cancer at some point in their life and occupational cancers caused by longer-term exposure to dust, chemicals and UV radiation from sunlight increases this risk. Organisations such as Macmillan Cancer Support offer help and advice for those who are self-employed and develop cancer. This includes guidance on managing your workload during treatment and what government benefits may be available. Macmillan can also help with grants for travel costs for treatment – helping reduce the overall financial burden. For those that work in the home improvement market, the Rainy Day Trust can also offer support.
Finally, if you find yourself unable to work and are not sure what financial support you may be entitled to, the Citizens Advice service is able to offer help and guidance in learning more about your options.
With over 30,000 listings, eBay is a great place to find the best used van. But how does eBay work when buying commercial vehicles? And how do you ensure you stay safe? Dan Powell of Honest John Vans shares his top 5 tips. Sign up and start small It only takes a few minutes to...Continue reading
Kent-based female entrepreneur, Jackie Redmill, Founder and Director of 1st Scenic Windows and Doors, started her venture into double glazing back in 2003. Since then, 1st Scenic has worked on hundreds of projects across Kent, Surrey, London and beyond. Jackie continues to nurture her company as they go from strength to strength with the help...Continue reading
What are the benefits of apprenticeships? There has been a major drive in recent years to encourage businesses, particularly those in the trade industries, to take on apprentices. Richard Harpin, the founder of Enterprise Trust, says that ‘it is time for everyone to address the skills shortage in the UK and increase the number of...Continue reading