Contractor Income Protection

Even a minor accident or short-term illness can have a potentially devastating long-term impact on your finances. You can ensure that you suffer no break in your income by using insurance policies that are specifically tailored to the way that you work.

DASA Consulting have asked specialist Independent Financial Advisers FreelancerMoney to advise on this vitally important subject.

Tony Harris at FreelancerMoney writes:
Your current lifestyle is totally dependent on your ability to work, yet everyday there are hundreds of fit and healthy people suffering unforeseen serious injury or illness. As you are not a permanent employee there is no large company safety net to fall back on and the financial impact of any break in earnings can be very significant.

For a relatively small monthly premium you can protect your bills, social life and future plans using a personally funded income protection policy.

An income protection policy (also sometimes referred to as a permanent health insurance/PHI ) ensures that you receive a tax free monthly income after a pre-arranged period of illness (typically 1,2 or 3 months but we do have access to a 1 day waiting period plan if you do not have savings to fall back on for this initial period).

We have tailored our advice around a thorough understanding of the issues you face- the way you are paid/potential of changing employment status in future, etc.

The policies that we recommend cover you right up to retirement age and crucially will continue to pay out for as long as you are unable to perform the role that you currently perform (i.e. there is no danger that an insurer will be able to suggest that you are healthy enough to work in a lower paid job and cut your benefit).

To learn more about the schemes and to receive a personalised illustration please read this important information regarding the service provided and complete our income protection finder below or call 0845 062 8888.

Contact form

Full name

Your email

Phone number

Mobile number

Sex Male Female

Do you smoke? Yes No

Date of Birth

Benefit Level Required (per month) £500 £1000 £1500 £1950 £2500 £3000 £3500 £4000 £4500 £5000 Other

Expected retirement age 50 55 60 65 Other

Age benefit required to (if different) 50 55 60 65 Other

Waiting/Deferred Period One Month Two Months Three Months Six Months Twelve Months Other

Inflation Proofing at RPI 3% 5% Nil Other

Would you like details of 1 day deferred cover? Yes No

Who will pay the premium? Contractor Company

Is the benefit required under 50% of your taxable income? Yes No

Do you split dividends with another shareholder? Yes No

Comments

We will pass your details over to IFA's FreelancerMoney who are regulated and authorised by the Financial Services Authority. Alternatively you can call them direct on 0845 062 8888.

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