As a contractor you won't be able to avoid getting ill but you can certainly protect yourself and your family should the unfortunate event of critical illness arise.

In today's society we are more prone to heart attacks, cancer, strokes and other stress related diseases. Avoidance is hard but protection is key. 

Falling ill means that those monthly bills soon add up. Not being able to pay your mortgage will become an added stress that, when you are ill, you will certainly want to avoid. That is why it is vital that you take out a level of cover to protect you from any such issue.

As a responsible broker we feel we have a professional duty to help you financially plan for the unthinkable. Here is Elaines story...


How will Critical Illness Insurance help?

Your critical illness insurance will not only help you to pay your mortgage, outstanding debts or loans, but will also help towards medical bills and treatment that you may need. There are enough worries without the added pressure of unnecessary ones. As a contractor you can take the right measures to ensure that you are fully protected.

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There are a wide range of benefits for a contractor for taking out critical illness cover. These include:

  • Helping you keep up your mortgage repayments
  • Fund any changes to your life that you may require, such as disability measures
  • Help to pay any medical bills
  • Reduce the stress that you are already under

The best way to take out critical illness insurance is to take out an income protection policy at the same time, or permanent health insurance (PHI). This means that not only do you get a lump sum should you become critically ill, but you will also have a monthly income should you be too ill to return to work.

Even if you return to full health, you won't need to repay your critical illness payout. It is non-refundable and you can make sure that you are covered from whenever you see fit.

As a contractor is it important that you look into all protection and insurance policies to see if they are right for you. As a contractor you won't reap the benefits of having an employee take care of these matters for you. It is down to you to make sure that your finances and financial affairs are in the best order that they can be.