As a Contractor you will be enjoying many of the perks of being your own boss, but it is important to avoid the pitfalls that come from leaving full time employment. If you are unable to work for whatever reason then there is little by way of employee sick pay to rely on. Income protection (also known as Permanent health insurance or PHI) can bridge the gap and help to cover your expenses until you are back on your feet again.
Our team of Independent Financial Advisors offer income protection plans that are tailored to your needs as a contractor. A typical plan will pay a tax free monthly income following a certain period of illness such as 3 months and will pay until you recover or reach your retirement age.
If you don’t have access to any savings to bridge the gap between falling ill and a policy paying out, then you can opt for a one day waiting period so you benefit from the peace of mind that you can maintain your lifestyle and protect your family should you be unable to work.
Our advisers understand your unique needs as a contractor and will ensure that they take key factors into consideration when advising you on your income protection policy such as the way you are paid, market instability, employment status and whether you work abroad.
For more information on the policies available to suit your circumstances please contact us by email at email@example.com or call Chris on 0845 834 0269
Financial advice is given by a firm of IFAs, who are regulated and authorised by the Financial Conduct Authority.