Working on a building site exposes you to all kinds of hazards. Find out how to protect your earnings if you suffered an accident and could no longer work.
According to the Health and Safety Executive*, 4% of workers suffer from an illness they believe to be work-related and 3% of workers sustain a work-related injury each year.
This leads to a whopping 2.2 million working days lost every year in the construction industry!
Although that’s quite a staggering figure, it’s easy to see why accidents happen when you consider the main risks and hazards on building sites, such as:
If you suffered an accident or illness that kept you off work for an extensive period, then you can get £89.35 per week Statutory Sick Pay – paid by your employer for up to 28 weeks.**
But could you live comfortably on just under £90 a week? Would that be enough to cover your everyday bills, including your mortgage, rent, food, childcare, and travel?
The answer, according to the Office of National Statistics***, is an emphatic ‘NO’. The government body found the average household spends £528.90 a week.
So based on what you’d get from your Statutory Sick Pay, you would still fall more than £400 short of your weekly spending.
You could dip into your savings. But do you really want to drain the money you’ve worked so hard to save – money intended for a nice holiday or special occasion? Fortunately there’s a simpler solution available to you, one that avoids the need to put a dent in your savings and helps you maintain your lifestyle.
*Health and Safety Executive website, April 2017 http://www.hse.gov.uk/statistics/industry/construction/
***Office for National Statistics, February 2017
**** Based on £300 monthly benefit plan, 30-day deferred period, and 12-month benefit period for an individual aged 18-30. The policy document, available on request, contains the full terms and conditions.