As a freelancer in the construction industry, your income is totally reliant on your ability to show up at the client's site every Monday morning. You lack the employer safety net of 'sick pay' that is enjoyed by permies but can replace these benefits through private provision called permanent health insurance (PHI).
Hardhatter had teamed with Contractor Financials, who specialise in financial service for contractors and are therefore able to taior their products and services to the specific needs of someone running their own small business.
In financial planning terms, contractors are pretty unique and Contractor Financials have sculptored their advice around a thorough understanding of the issues you face, including the way you're paid; potentially unstable markets; employment status issues; the possibiity you may go abroad to work for a short time.
Contractor Financials and Hardhatter can offer a reasonably costed plan that pays out after a single day's illness.
Any recommendation on the PHI front specifically is based around a couple of absolutely crucial factors - these will sometimes make the a plan more expensive on the face of it compared to other providers but ensures that the plan is a very comprehensive one. Unlike many other areas of a contractors finances where cost is sometimes the only consideration, with PHI the choice of company is very important, and you need to be certain that the policy is watertight in the event of a claim.
Ideally a policy will:
As a contractor, your entire lifestyle rests on the ability to be able to fall back on an income protection policy when you need it.
We've tried to give an overview of the issues concerning PHI. Please fill in the finder below and we'll get back to you with some tailored recommendations.
Note: Investment Advice on this site is provided by Contractor Financials who are regulated by the Financial Services Authority (FSA).
Provided in association with Coulson Prichard Associates. To enquire about this service, use the form above. Or if you are unable to order online or require assistance, please call 01480 470220 and quote "Hardhatter offer".
Please read our Private Client Agreement