[paul alan]

Do you any of you have any kind of sickness/injury insurance?

I have critical illness insurance but dont have anything in place for say a broken leg or serious infection etc. I did look into it but its expensive.

What do you guys have in place in case of being unable to work for an extended period?


I am still trying to work out my future and not leaving out the possibility of simply refining my round and making it easy and well paid, but I would need to having something in place to cover all bases.

[dd]

Too expensive IMO, you would be better off putting the money you would spend on the premium each month in to a saving account or other investment. You could then use this if needed if you were laid off for a month or two because of injury.

[Shrek]

I would say have a years worth of bill money in the bank

[paul alan]

Both good answers, but would take a lot of time for me to put that kind of money away. Its something I am working towards anyhow but like I said will take time, especially bringing up 2 little ones costs a bomb.

I am looking for options that would cover me sooner.

[dazmond]

Both good answers, but would take a lot of time for me to put that kind of money away. Its something I am working towards anyhow but like I said will take time, especially bringing up 2 little ones costs a bomb.

I am looking for options that would cover me sooner.

Most things take time to put in place.....

My advice would be to get 10k-15k behind you as an emergency fund.even if it takes you 5 years to get the money saved.....

Meanwhile don't fret....your only young and probably be ok healthwise for many years.....

[dazmond]

A window cleaner I used to work for many years ago always said to me 'get 10k behind you as a financial cushion and you'll be ok'.....

Of course I never heeded his advice at the time.i thought 10k was a dream......but its easily possible if you save over a 5 year period(2k a year).....

[dazmond]

£40 a week for 5 years will get you there....

[edward1]

paul ,
yes insurance  can be expensive ,i have a accident insurance through the aa it costs me £12 a month .i did have a claim on it 20 yrs ago and ended up with over 20k being paid i  was off for around six months with a broken foot .and it did wAS A lifw saver at the time.
have a look at accident insurance as a starter .its a lot cheaper than sickness cover .
i also had critical health cover through avivia that cost £67 a month and covered the mortgage if off sick .i  cancelled that one last yre as dont need the cover anymore ,but not to expensive .

[Cookie]

Just out of interest. Can you claim sickness/injury insurance as a business expense?

[Splash & dash]

Just out of interest. Can you claim sickness/injury insurance as a business expense?

Yes you can

[Stoots]

Similar position to you Paul, keep mulling it over in my mind, stay on my own, grow bigger, keep changing my mind. But I think the best insurance would be to build a bigger business.

Hard though init?

To be honest if push came to shove and I couldn't work for a few years  I would claim benefits and go bankrupt.  Done both before and survived. Too much worrying we do, and for what really...we are all going to die so why fret.

[Tom-01]

I've just had shoulder surgery and can't work for 9 months. First baby due in 10 weeks as well.

I wish I had looked into insurance and sorted something out because I knew I had an issue with my shoulder which would probably require more surgery, alas it did.

I'm fortunate that my wife works for a company with very good maternity benefits.
Also I have a very good full time worker and now someone else starting August who will be doing 3 days a week. We have quite a few big extra jobs through the year, this also helps.

I'm trying to use this time to manage the business so it's not reliant on me working, so I look at it that way rather than forced off the tools as I chose to have the operation and prepared for it. At the moment it's a bit frustrating because I can't drive for another 7 weeks.

I agree with Dazmond that having a good fund behind you helps a lot. But also so does cheap rent and a millionaire brother hey Daz?! 

[dazmond]

everyone should try and get at least 3 months bill money put to one side ready to spring into action if needed when your self employed.....

lots of peoples reply to that is (i just couldnt save up that sort of money etc).rubbish.....most of us who work for ourselves could quite easily (if a savings plan is over a long period).

lots of people waste money all the time whether its on cigarettes/booze/paying too much for gas/electric/mobile phone contracts/interest on credit cards etc........

then once you have your 3 months bill money together you can start adding to it to make it 6 months bill money(even if it take 5 years or more)

[dazmond]

I've just had shoulder surgery and can't work for 9 months. First baby due in 10 weeks as well.

I wish I had looked into insurance and sorted something out because I knew I had an issue with my shoulder which would probably require more surgery, alas it did.

I'm fortunate that my wife works for a company with very good maternity benefits.
Also I have a very good full time worker and now someone else starting August who will be doing 3 days a week. We have quite a few big extra jobs through the year, this also helps.

I'm trying to use this time to manage the business so it's not reliant on me working, so I look at it that way rather than forced off the tools as I chose to have the operation and prepared for it. At the moment it's a bit frustrating because I can't drive for another 7 weeks.

I agree with Dazmond that having a good fund behind you helps a lot. But also so does cheap rent and a millionaire brother hey Daz?! 

cheap rent helps(and no kids!) but ive never had a penny off my brother (and never would).im not a scrounger.....

good luck with your recovery tom.......a serious shoulder injury is a  WFP window cleaners worst nightmare.....

[paul alan]

Similar position to you Paul, keep mulling it over in my mind, stay on my own, grow bigger, keep changing my mind. But I think the best insurance would be to build a bigger business.

Hard though init?

To be honest if push came to shove and I couldn't work for a few years  I would claim benefits and go bankrupt.  Done both before and survived. Too much worrying we do, and for what really...we are all going to die so why fret.

 A Genius way to look at it mate!


I'm looking into a part timer at the minute and see how that goes, like you I just cant make my mind up. Franchise is the end goal though for sure, I think???

[Stoots]

Similar position to you Paul, keep mulling it over in my mind, stay on my own, grow bigger, keep changing my mind. But I think the best insurance would be to build a bigger business.

Hard though init?

To be honest if push came to shove and I couldn't work for a few years  I would claim benefits and go bankrupt.  Done both before and survived. Too much worrying we do, and for what really...we are all going to die so why fret.

 A Genius way to look at it mate!


I'm looking into a part timer at the minute and see how that goes, like you I just cant make my mind up. Franchise is the end goal though for sure, I think???

theres no easy way,  tried another lad couple of weeks ago, just wouldnt listen to how i wanted them doing so now looking again!
nightmare trying to find someone decent but cant stand the thought of standing still forever. I find the days pass quicker and generally less boring working with someone as well.  When i work on my own im getting too half assed, early finishes etc.. i need the motivation of having staff to keep me pushing.

[dd]

I've just had shoulder surgery and can't work for 9 months. First baby due in 10 weeks as well.

I wish I had looked into insurance and sorted something out because I knew I had an issue with my shoulder which would probably require more surgery, alas it did.

I'm fortunate that my wife works for a company with very good maternity benefits.
Also I have a very good full time worker and now someone else starting August who will be doing 3 days a week. We have quite a few big extra jobs through the year, this also helps.

I'm trying to use this time to manage the business so it's not reliant on me working, so I look at it that way rather than forced off the tools as I chose to have the operation and prepared for it. At the moment it's a bit frustrating because I can't drive for another 7 weeks.

I agree with Dazmond that having a good fund behind you helps a lot. But also so does cheap rent and a millionaire brother hey Daz?! 

Highly unlikely that an insurance policy would pay out for a pre-existing condition becoming aggravated.

[John Mart]

Similar position to you Paul, keep mulling it over in my mind, stay on my own, grow bigger, keep changing my mind. But I think the best insurance would be to build a bigger business.

Hard though init?

To be honest if push came to shove and I couldn't work for a few years  I would claim benefits and go bankrupt.  Done both before and survived. Too much worrying we do, and for what really...we are all going to die so why fret.

 A Genius way to look at it mate!


I'm looking into a part timer at the minute and see how that goes, like you I just cant make my mind up. Franchise is the end goal though for sure, I think???

theres no easy way,  tried another lad couple of weeks ago, just wouldnt listen to how i wanted them doing so now looking again!
nightmare trying to find someone decent but cant stand the thought of standing still forever. I find the days pass quicker and generally less boring working with someone as well.  When i work on my own im getting too half assed, early finishes etc.. i need the motivation of having staff to keep me pushing.

I don’t understand why people struggle to get good staff. I’d find it harder to get a duffer.

[paul alan]

Similar position to you Paul, keep mulling it over in my mind, stay on my own, grow bigger, keep changing my mind. But I think the best insurance would be to build a bigger business.

Hard though init?

To be honest if push came to shove and I couldn't work for a few years  I would claim benefits and go bankrupt.  Done both before and survived. Too much worrying we do, and for what really...we are all going to die so why fret.

 A Genius way to look at it mate!


I'm looking into a part timer at the minute and see how that goes, like you I just cant make my mind up. Franchise is the end goal though for sure, I think???

theres no easy way,  tried another lad couple of weeks ago, just wouldnt listen to how i wanted them doing so now looking again!
nightmare trying to find someone decent but cant stand the thought of standing still forever. I find the days pass quicker and generally less boring working with someone as well.  When i work on my own im getting too half assed, early finishes etc.. i need the motivation of having staff to keep me pushing.

I don’t understand why people struggle to get good staff. I’d find it harder to get a duffer.

Where do you find your staff? What do you look for?

[Stoots]

I've just had shoulder surgery and can't work for 9 months. First baby due in 10 weeks as well.

I wish I had looked into insurance and sorted something out because I knew I had an issue with my shoulder which would probably require more surgery, alas it did.

I'm fortunate that my wife works for a company with very good maternity benefits.
Also I have a very good full time worker and now someone else starting August who will be doing 3 days a week. We have quite a few big extra jobs through the year, this also helps.

I'm trying to use this time to manage the business so it's not reliant on me working, so I look at it that way rather than forced off the tools as I chose to have the operation and prepared for it. At the moment it's a bit frustrating because I can't drive for another 7 weeks.

I agree with Dazmond that having a good fund behind you helps a lot. But also so does cheap rent and a millionaire brother hey Daz?! 

Highly unlikely that an insurance policy would pay out for a pre-existing condition becoming aggravated.

to be honest, the first lad i has was great, turned up everyday and did a good job... that great though that after 3 months he decided he wanted to start his own business after id trained him up lol  fair play to him...

BUT how do you find good staff that want to stick around thats the problem, anyone can be great for a few months but i want someone for years not months.

I suppose its not easy when you are only offering part time, that only suits a certain number and type of people. I think i would do better if looking for a full timer.