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.
Contractor Financials offer income protection plans that are tailored to your needs as a contractor. A typical plan:
The advisers at ContractorFinancials 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.
The FSA do not regulate some forms of insurance / protection. Certain life policies have an investment element. It is important to understand that these investments are longer term in nature and that the value of investments and income from them can fall as well as rise. Past performance is also no guarantee of future performance.
Financial advice on these pages is given by ContractorFinancials, which is a trading name of Contractor Financials Ltd who are regulated and authorised by the Financial Services Authority.
Not all products are regulated by the FSA e.g. buy to let mortgages. All rights reserved and E & OE.