Mother's help

By THIS IS MONEY
Updated:

 

I am an at-home mum looking after two pre-school children. Is there any facility to insure my health so I can pay for a nanny if I become ill? I've just nursed my husband over 'flu and now he's back at work I have got it and am tying to cope with two children and the house as well. A nanny would be a big help. BL, Stroud, Wilts.

Christine Ross, independent financial adviser at Willis National, says: Many insurance companies that offer permanent health insurance (also called income protection insurance) offer a carer's option that will pay out a regular sum that you can use to pay for a nanny or whatever you like.

The maximum amount you can insure for varies from company to company, eg at Royal and Sun Alliance it is £200 a week. As an example a 35-year-old woman non-smoker would have to pay £24.82 a month for a policy that runs until age 50 and pays £200 a week. She'd have to wait 13 weeks before claiming which is standard for this kind of policy. Shop around or see a broker.

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