Does anyone know about NHS staff life insurance?

Penguin666

Hi,

I’m looking for life insurance policies but before I do, it would be good to know what the NHS offers staff if I became ill and was unable to work again,or if I died?

I’m married with one child and started working for the NHS in 2014.

Many thanks

JoeCrystal

Your NHS pension scheme does have Ill-Health retirement and life insurance elements...

Penguin666

Thank you. Do you know if they are at a level where I don’t need to take out additional cover? I suppose everyone is different so hard to answer but what support would it give my family for example as a percentage?

Thanks

JoeCrystal

Penguin666 wrote: »

Thank you. Do you know if they are at a level where I don’t need to take out additional cover? I suppose everyone is different so hard to answer but what support would it give my family for example as a percentage?

Thanks

I don't know but the information is available on the NHS pension scheme website. Like this one: https://www.nhsbsa.nhs.uk/employee-section/understanding-my-statement/benefits-payable-death

tacpot12

Workplace life cover is all well and good, but if you leave your job, you then have no cover. Level term life insurance is usually pretty cheap, so I would look to get some cover on your own policy and see any employer coverage as a bonus.

xylophone

Do you have a mortgage? At the least you would want cover (for both you and your spouse) should either of you die before it was paid off?

rnj

Depending on length of service :

In the 2015 scheme you'd get 2x your pensionable earnings on death.
You'd also get a short term pension for 6months based on salary at date of death, after that you get a long term pension which is roughly 1/3rd of pension built up to date of death plus 1/3rd of 50% of the prospective pension to normal retirement age.

If you're ill you get sick leave, if seriously ill you can apply for early pension.

Penguin666

Thank you all for your comments. I’m about to get a mortgage but I’ve been diagnosed with a rare chronic illness so I’m going to struggle to get cover, or it will be expensive so it’s good to hear the NHS will give some support if need be.

When you say they will give a short pension, and then a long term pension, is that just until my and the employers contributions run out?

Hopefully all will be good and they will foxfire something out for my health as I’m only 28 but just need a back-up plan.

Thanks all

Flugelhorn

Penguin666 wrote: »

When you say they will give a short pension, and then a long term pension, is that just until my and the employers contributions run out?

the short term pension for dependants is a few months at a higher rate, then goes to lower rate for the surviving spouse and also for kids until they are 23