| Topic: | Re:Re:Re:Re:sleeping in the park | |
| Posted by: | Jonathan Mun | |
| Date/Time: | 02/10/06 10:53:00 |
| As I mentioned in an earlier post you’re normally entitled to 75-80% of your normal wage. To be honest I haven’t moved my Australian policy to a local one yet so can’t comment on all aspects. However, I’ve generally found insurance to be equivalent or cheaper (except for cars) in the UK relative to Australia. Likely due to a broader and more competitive market. Having said that, in Australia I pay AUD$80/month (about £32) for involuntary unemployment until I die. It’s cheaper for cover until 65 and cheaper again for 5/10/etc. year plans so I would argue it’s very affordable. When I obtained my mortgage in the UK I was asked about income protection plans and the conditions were almost identical to my Australian cover so I would argue it’s a fair and reasonable comparison for the sake of this discussion. What is involuntary unemployment? Almost anything that results in you being “forced” out of employment. So sickness, injuires, being fired, etc. are all covered. There are some limitations in relation to redundancies based on the pay outs received which is reasonable. It even covers you for injuries outside of the workplace that can effect your work within reason, ie. Rock climbing, abseiling, caving, and other “dangerous” sports are usually excluded. Bosses paid too much and the “minions” too little? Well, that’s a unfortunate “problem” anywhere you go. If you don’t like it then become your own boss :) |