Protect against the unexpected
28th January 2010
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 very suddenly.
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 Contractor 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 offer 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. 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…
FPS have joined up with ContractorFinancials, a team of Independent Financial Advisers who 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. The 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.
For more information on income protection and life insurance services contact ContractorFinancials on 0845 062 8888 or email fps@contractorfinancials.com.
