Loss of income is snow joke
Published on 19th January 2010
With great swathes of the country still looking like a scene from a disaster movie A&E departments throughout Britain are treating thousands of accident injuries and snow related fractures. Income Protection is essential cover that will bridge the gap in your finances if you are unable to get on site following a sledge related injury or something more serious.
As a Contractor, if you are injured or fall ill and cannot work, then your income stops immediately. If you have a family then this could be a worrying prospect as without your income to rely on your lifestyle would probably change abruptly.
It is possible for Contractors to guard against this with Contractor Income Protection that will pay out a tax free monthly sum to cover household bills and other expenses. You can protect up to 75% of your income with this essential insurance and it costs as little as £10 a month to benefit from the peace of mind it offers.
Similarly, as a Contractors you can also protect your family with Life Insurance that works in the same way as the death in service benefit enjoyed by many permanent employees. Life cover will pay out if you die and offers your family the financial security to enable them to cope at this emotional and financially devastating time.
There is no reason why Contractors cannot benefit from income protection, life and also critical illness cover as there are many policies available that will cater for your Contractor status. In some case you can even arrange for your one man limited company to pay the premiums.
Invariably there is a lot of small print to read on any insurance policy and Contractors can sometimes find themselves under insured or with a provider that does not cover your unique employment status.
Help is at hand
At ContractorFinancials, we specialise in offering comprehensive insurance products to Contractors looking to replace the sick pay and death in service benefits that you left behind with your previous employer. Our award winning team will work with you every step of the way, from arranging the right cover for your individual circumstances, to helping you make a claim if you fall ill. We pride ourselves on offering peace of mind to thousands of Contractors and we would be happy to help you protect your income and your family with an insurance that suits your needs.
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- Is your life covered? As a Contractor, you miss out on the 'death in service benefit' offered to permanent employees but you can still protect your family…
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