How much does it cost?

The premium varies from year to year and depends on your occupation. Most companies divide occupations into three or four different categories, depending on the hazards and risk of accidents involved, with fixed premium rates for each category. A typical classification is

Class z: Professional, executive, administrative and clerical occupations: - e.g. lawyers, accountants, stockbrokers, publishers, doctors, dentists, musicians, managers and clerks.

Class 2 : Occupations of a superintending nature, or which may involve occasional light manual work, e.g. bakers, salesmen, representatives, journalists, foremen, nurses, tradesmen and shopkeepers not using machinery.

Class 3: Semi-skilled factory workers, plumbers, electricians, engineering workers, farmers, veterinary surgeons and shopkeepers using machinery.

Class 4: Unskilled workers, labourers, miners and window cleaners.

Thus sedentary workers and professionals pay the lowest premiums (about k4 a year for one unit, as described on page 376) while labourers pay the most (about k7 a year for one unit) with a minimum annual premium of about £6. You must notify your insurance company if you change jobs as this may involve an adjustment to your annual premium.

Most companies will not insure you unless you are over a certain age (usually over i6 or 8) and under 6o (sometimes 69, and usually 99 for women). However, once you are a policyholder you should be able to renew your policy until you are 70, provided you remain in good health and in a non-hazardous occupation. Women may have to pay higher premiums than men, and no benefits will be payable if disablement .occurs as a result of pregnancy.

The proportion of your premium applicable to the death benefit qualifies for income-tax relief. You should, therefore, obtain a certificate for the Inland Revenue from your insurance company, and include this proportion of your premium on your tax return form.


How much does it cost?

Payroll Giving
It’s all very easy to organise.
Just ask the Personnel or the Payroll Department at your company and, if they already have a scheme, they will give you the relevant forms.  HM Revenue & Customs’ website has a list of Payroll Giving agencies and explains payroll giving in more detail.

Salon Gold Insurance

Cheaper Insurance for Salons, Freelance Hair and Beauty, and Mobile Businesses - click here

read on: Medical expenses

The premium varies from year to year and depends on your occupation. Most companies divide occupations into three or four different categories, depending on the hazards and risk of accidents involved, with fixed premium rates for each category. A typical classification is

Class z: Professional, executive, administrative and clerical occupations: - e.g. lawyers, accountants, stockbrokers, publishers, doctors, dentists, musicians, managers and clerks.

Class 2 : Occupations of a superintending nature, or which may involve occasional light manual work, e.g. bakers, salesmen,... see: Medical expenses