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  • FIRST POST
    • Penguin666
    • By Penguin666 16th May 19, 10:24 AM
    • 22Posts
    • 0Thanks
    Penguin666
    Does anyone know about NHS staff life insurance?
    • #1
    • 16th May 19, 10:24 AM
    Does anyone know about NHS staff life insurance? 16th May 19 at 10:24 AM
    Hi,

    Iím 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?

    Iím married with one child and started working for the NHS in 2014.

    Many thanks
Page 1
    • JoeCrystal
    • By JoeCrystal 16th May 19, 10:38 AM
    • 1,671 Posts
    • 1,126 Thanks
    JoeCrystal
    • #2
    • 16th May 19, 10:38 AM
    • #2
    • 16th May 19, 10:38 AM
    Your NHS pension scheme does have Ill-Health retirement and life insurance elements...
    • Penguin666
    • By Penguin666 16th May 19, 10:47 AM
    • 22 Posts
    • 0 Thanks
    Penguin666
    • #3
    • 16th May 19, 10:47 AM
    • #3
    • 16th May 19, 10:47 AM
    Thank you. Do you know if they are at a level where I donít 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
    • By JoeCrystal 16th May 19, 10:59 AM
    • 1,671 Posts
    • 1,126 Thanks
    JoeCrystal
    • #4
    • 16th May 19, 10:59 AM
    • #4
    • 16th May 19, 10:59 AM
    Thank you. Do you know if they are at a level where I donít 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
    Originally posted by Penguin666
    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
    • By tacpot12 16th May 19, 11:35 AM
    • 2,370 Posts
    • 2,096 Thanks
    tacpot12
    • #5
    • 16th May 19, 11:35 AM
    • #5
    • 16th May 19, 11:35 AM
    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.
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always check official information sources before relying on my posts.
    • xylophone
    • By xylophone 16th May 19, 12:28 PM
    • 29,454 Posts
    • 17,936 Thanks
    xylophone
    • #6
    • 16th May 19, 12:28 PM
    • #6
    • 16th May 19, 12:28 PM
    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
    • By rnj 16th May 19, 1:12 PM
    • 23 Posts
    • 19 Thanks
    rnj
    • #7
    • 16th May 19, 1:12 PM
    • #7
    • 16th May 19, 1:12 PM
    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
    • By Penguin666 16th May 19, 4:02 PM
    • 22 Posts
    • 0 Thanks
    Penguin666
    • #8
    • 16th May 19, 4:02 PM
    • #8
    • 16th May 19, 4:02 PM
    Thank you all for your comments. Iím about to get a mortgage but Iíve been diagnosed with a rare chronic illness so Iím going to struggle to get cover, or it will be expensive so itís 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 Iím only 28 but just need a back-up plan.

    Thanks all
    • Flugelhorn
    • By Flugelhorn 16th May 19, 5:26 PM
    • 1,371 Posts
    • 1,810 Thanks
    Flugelhorn
    • #9
    • 16th May 19, 5:26 PM
    • #9
    • 16th May 19, 5:26 PM

    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?
    Originally posted by Penguin666
    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
    Last edited by Flugelhorn; 16-05-2019 at 6:09 PM.
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