The government has introduced a life assurance scheme that provides families of healthcare workers with a £60,000 lump sum payment in the event of their death due to COVID-19.
This does not constitute advice and advice should be sought in all instances before acting on it.
Medical professionals working on the frontline are at greater risk of catching coronavirus. While sufficient protection is obviously the best route, the government has recognised the important role healthcare workers play with this new scheme.
More about the scheme
The scheme is worth about twice the average pensionable pay for NHS staff and the expense will be footed by the government. Full-time, part-time, and locum NHS and public health workers (including GPs, dentists, retired staff, and second and final year students) who volunteer to work on the front line will all be eligible.
It’s important to note that this scheme is only temporary, while the virus is still prominent, and the death in service benefits provided won’t be available after the pandemic is over.
Shine a light on healthcare workers
It’s a small token of appreciation to extend to healthcare workers as they put their lives on the line every day to fight the virus.
Health and Social Care Secretary, Matt Hancock, says, “Nothing can make up for the tragic loss of a loved one during this pandemic” but that “financial worries should be the last thing on the minds of [healthcare workers’] families.”
The scheme aims to provide some financial support and some defense against the worries we all share at this time but are unfortunately very real possibilities for people working with those diagnosed with the coronavirus.
More to be done?
While it’s a partial win, the British Medical Association made it clear that there’s more to be done. The scheme will help in the immediate future for those affected, but long-term many families could still be without financial security if their lost loved one wasn’t a member of the NHS pension scheme or only had recently joined.
Here to help
To find out more about how to enrol in the scheme, get in touch today. We’re happy to schedule a call around your schedule and can help you to ensure you’re sufficiently covered and as free of financial worries as you can be during this difficult time.
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