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A leading UK website for contractors and freelancers | Updated:Thu, 04 Sep 2008, 11:16 GMT

Contractor Income Protection

Contractor Cover

Contractor Income ProtectionContents:

^ TopWhy Contractor Income Protection

Whilst permies have the benefit of at least 3 months pay in the event of accident or sickness, as a contractor you are exposed to financial loss the first morning that you are unable to arrive on site, fit and ready to work. You can protect yourself against such financial hardship.

In your last permanent job you likely would have had 'death in service benefit' of up to 4 times salary. As a contractor you have zero protection in the event of your death. If you have an outstanding mortgage then a policy covering yourself will ensure no debt is left for for a partner, kids or other family members should anything happen to you.

And finally, there is the risk that you are diagnosed with a critical illness, such as heart stroke or cancer. You can protect yourself from the potentially disastrous financial consequences of such conditions so that a lump sum is paid on the diagnosis of such an illness.

Contractor Financials can offer a tailored range of specially selected ‘contractor friendly’ policies that reflect the unique way in which you work. This means that the protection can mirror that which you enjoyed when a permanent employee.

Here's a summary of policies available:

Policy Type Purpose
Permanent Health Insurance Monthly income if unable to work.
Critical Illness Cover Lump sum upon diagnosis of critical illness.
Life Cover Lump sum in the event of your death.

^ TopWhy Contractor Income Protection

Read more detail by clicking on the products above, or request a quotation online.

 

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