As a contractor, an income protection insurance policy could prove to be a vital financial lifeline to you should you become unable to work due to illness, accident or unemployment.
Income protection insurance is designed to provide you with a substitute income in the event that you were unable to work through sickness or injury, helping to keep up with your mortgage repayments and household bills as well as other personal expenses.
An income protection insurance policy would usually be available to a contractor as long as you satisfy the following requirements:
If you are looking for Unemployment Insurance and are a contract worker please note that different insurers will have different definitions for what is a contract worker so you should read the policy wording carefully to ensure you are properly covered. Normally the insurance company underwriters will require contracts to be of a minimum set length and unemployment will not be covered beyond the date the contract would have otherwise expired naturally and non renewal of a fixed term contract will not be covered unless specific conditions of the policy are met.
If you are a contractor interested in finding a quote for affordable short term income protection insurance, please enter your details below: