Money for ill people if neck bites degenerated (4,7)

I believe the answer is:

sick benefit

'money for ill people' is the definition.
(money paid to people too sick to work)

'if neck bites degenerated' is the wordplay.
'degenerated' indicates anagramming the letters (I've seen 'degenerate' mean this).
'if'+'neck'+'bites'='ifneckbites'
'ifneckbites' with letters rearranged gives 'SICK-BENEFIT'.

(Another definition for sick benefit that I've seen is " Payment during illness".)

I've seen this clue in The Telegraph.

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