Don’t rely on state benefits when ill, mothers are told
Women could be risking debt if their only plan to survive if they become ill is to rely on state benefits, a life insurance specialist has warned.
Women could be risking debt if their only plan to survive if they become ill is to rely on state benefits, a life insurance specialist has warned.
LifeSearch, speaking before the upcoming Mothers Day celebration, has suggested most women have underestimated the amount of money they will receive from the state if they are unable to work.
A 30-year-old female, earning £35,000 a month, would only be able to collect a maximum of £64.30 a week – or £275.50 per month – through Employment and Support Allowance (not taking into account company sick pay), the protection company warned.
Matt Morris, senior policy advisor at LifeSearch, said: “It is not just working women who should be thinking abut protecting their finances , the value that mothers provide to the home through daily activities is massively underrated.”
Last month, the Consumer Credit Counselling Service warned people not to become too complacent over their debts, reminding them that repayments still have to be made.
By Joe Shervin
