Earnings Protection

[venus89]

I know this has been asked before as I've ben flicking through old posts but I wanted to see if anyone had found a fairly priced earnings protection scheme for childminders? I've just had to take out a loan to cover the cost of buying a new car and was thinking I ought to get it protected which got my brain moving onto worrying about what would happen if I was ill.....

[LisaMcNally09]

Only earnings protection I have is for if my two kids have an accident. It costs me £18 per month for them both and if they break a bone I get £1000 and then I get £750 per night in hospital upto a total of £3000. This is only for accidents not illness.
The company i use also do this sort of plan for adults too aswell as a joint accident/illness plan but not sure on cost of that.

Aswell no matter if i claim or not every ten years i get 25% of the premiums paid back.

[venus89]

May I ask who that's with, Lisa?

[Carol M]

I have a NURSERY PLAN policy.
It covers me for sickness for the ammount I pay for car loan.
Depends on your age and ammount you want covering .
Mine is £13.88 per mth for £260 cover.
Carol x

[venus89]

I have a NURSERY PLAN policy.
It covers me for sickness for the ammount I pay for car loan.
Depends on your age and ammount you want covering .
Mine is £13.88 per mth for £260 cover.
Carol x

oohhhh - that sounds good. Thanks Carol

[The Juggler]

i pay £35/month. it doesn't pay out for 6 months but then pays a monthly salary at £12,000/year (tax free). I took it out on the basis I couldn't work again (serious illness/accident). I couldn't afford it for short-term sickness so would be pleased to hear if anyone else has found something cheaper.

i tried nursery plan but it was really expensive.

[Pipsqueak]

I'd be really interested in this - any good companies out there?

[venus89]

Do you think you can put earnings protection through the books as a business expense?

[Pipsqueak]

Do you think you can put earnings protection through the books as a business expense?

would have thought so - you wouldn't have it if you weren't childminding iyswim

[The Juggler]

would have thought so - you wouldn't have it if you weren't childminding iyswim

I've had mine for nearly 6 years and never thought of that!!!!!!!!:laughing: :laughing:

[Blaze]

i pay £35/month. it doesn't pay out for 6 months but then pays a monthly salary at £12,000/year (tax free). I took it out on the basis I couldn't work again (serious illness/accident). I couldn't afford it for short-term sickness so would be pleased to hear if anyone else has found something cheaper.

i tried nursery plan but it was really expensive.

Who is this with please?:)

[The Juggler]

Who is this with please?:)

let me check. I think it's norwich union. I'll pm you the details honx

[Carol M]

Do you think you can put earnings protection through the books as a business expense?

I don't think you can. It's a personal insurance like life insurance.
Carol x

[Blaze]

let me check. I think it's norwich union. I'll pm you the details honx

Thanks:thumbsup:

[LisaMcNally09]

Mines with Combined Insurance.

If you want any details just let me know!!:D

[venus89]

I don't think you can. It's a personal insurance like life insurance.
Carol x

I prefer the Juggler's response! Maybe somebody will know for sure?

[The Juggler]

Mine is with Friends Provident - don't have a contact number (current but sure you could just phone general number to ask).

I have to say I took it out when I registered so was 36 (now 42). The younger you are the cheaper it is.

Lots of the big banks should offer it similar though and most big insurance companies. It's called income protection for critical illness rather than sick pay cover. You can be covered so it kicks in at 1 month, 3 months, 6 months (and I think they then backdate it to the start of your illness). It's very expensive to have it kick in at 1 month though. I wish I could afford the short term cover if I broke my leg and was off for 6 weeks I'd be stuffed but this way I'm covered if I can't work again.