Contractor Income Protection

When you become a contractor, you can enjoy the flexibility and freedom that contracting brings, while also taking responsibility for your own retirement and protection plans.

We have teamed up with the specialists at ContractorFinancials to provide you with JSA Financials solutions, so you can now benefit from independent financial advice to help you make the most of your time contracting.

Income Protection insurance for contractors from JSA Financials

As a contractor, you are reliant on being able to get to your client's site, so an accident or serious illness can really set you back financially. If you are unable to work, there is little in the 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.

What is Income Protection and how will it benefit me?

In association with ContractorFinancials, JSA offer income protection plans that are tailored to your needs as a contractor.

A typical plan:

Will pay a tax-free monthly income, either immediately or after a pre-arranged period of illness (e.g. 1 month)
This continues until you recover or you reach your retirement age
Provides the peace of mind that you can maintain your lifestyle
Protects your family should you be unable to work

Our colleagues at ContractorFinancials can offer you advice on protection. They will understand your unique needs as a contractor, and will ensure that they take key factors into consideration when advising you. They will consider the way you are paid, market instability, employment status and whether you work abroad.

Income protection plans for contractors should guarantee the following:

Suitability for short term contract workers
Cover both salary and any future dividends, in case your employment status changes
Cover you for the job that you are doing now
Prevent the insurer refusing to pay, because you are fit enough for a more menial role
Premiums must be ‘guaranteed’, rather than ‘reviewable’, so that their costs cannot be increase significantly
The minimum number of exclusions, so that you can be confident of making a successful claim

ContractorFinancials are Independent Financial Advisors, so they are able to search the whole of the market to find the best cover for your needs. They only work with insurers that have a good history of paying claims and offer affordable cover for the duration of your time contracting.

Financial advice is given by Contractor Financials, which is a trading name of Contractor Financials Ltd and is regulated and authorised by the Financial Services Authority.

Call us on 0845 202 4534 or email protection@JSAfinancials.com today!

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