Health insurance

Pppppppppp

Hi, please can you help. I am 55 years old and paying into a monthly health insurance up until I am 65. The payment goes up every year. The insurance is if I become ill and can not work again. I can start claiming monthly payouts from the 13th week. These payouts last up to 5 years or when I reach 65.
Do I need this insurance or can I claim disability allowance? I have been working since I was 16 years old and paid National insurance and Taxes. 

DullGreyGuy

Pppppppppp said:

Do I need this insurance or can I claim disability allowance? I have been working since I was 16 years old and paid National insurance and Taxes. 

Depends on your income/outgoings and lifestyle plus what illness you get etc. PIP could be £61.85 a week which isnt going to touch the sides if you have a £2,000 a month mortgage payment to make but may be ok if you're mortgage free, hate travel, have a partner with a large salary and your hobby is reading novels. 

lassfarfromhome

Personally I wouldn't rely on state benefits to cover your expenses if you are sick long term and unable to work.  They are very unlikely to give you enough to live on.

I have been unable to work for the few years or so due to a chronic illness with no treatment or cure.  I get £510 per month from the government which is for Employment and Support Allowance (contribution based).  I am still trying to get PIP and have been refused by the DWP which doesn't understand my illness or how it affects me, so I will have to go to tribunal to see if I am entitled to anything.  I didn't claim before now because I was too ill to go through the application process and couldn't face the inevitable refusal.  Luckily, I had income protection insurance which pays me a proportion of my salary until I die, return to work, or turn 65.  Due to the insurance I can live independently in my own home and I am grateful for it every day.  

Do not give up the insurance!