You may think that if you fall ill, have an accident or are unable to work, the state will step in and sort it all out, but it might not be this simple. Although the state does provide some financial support if you can't work due to illness, or if your partner dies, not everyone is entitled to it and you shouldn’t presume it will be enough to maintain your lifestyle.

If you were unable to work for an extended period, you could apply for incapacity benefit. This is paid at different rates depending on the length of your illness, how much you earn and whether you have reached State Pension age. However, as a guide, if you are employed and earn on average over £90 each week, Statutory Sick Pay could be paid for the first 28 weeks, short term incapacity benefit for weeks 29 - 52 and long term incapacity benefit from week 53. This starts at as little as £75.40 per week.

This is the situation at present and may change in the future.