With more than 4.8 million self-employed now active in the UK , you may believe that you can’t be insured in the same way a permie can. A self-employed contractor can usually get all types of protection, including income protection and critical illness cover.
So where do you start with contractor income protection? Income protection insurance for contractors has become more sought after as the number of independent contractors increases.
Just as a full-time employee needs income protection, so too does the contractor, regardless of the sector they operate in.
The stats fighting against you.
- Around a quarter of strokes happen in people of working age. 
- In the UK there are nearly 200,000 hospital visits each year due to heart attacks: that’s one every three minutes. 
- 1 in 2 will suffer from cancer in their lifetime. 
- You’re 26 times more likely to be incapacitated and off work for more than 6 months, than to die before the age of 65. 
A sole trader and their business are the same legal entity, so if you can’t meet their financial obligations as a result of illness (or death) personal assets can be seized. This could mean your family is forced to sell off assets in a time of already great despair.
If you’re not fighting fit…
Contractor income protection comes into action when you’re unable to work due to an injury or illness. It is designed to pay out a monthly income, to cover ongoing costs such as mortgage payments, bills and childcare until you return to work or retire (whichever is first).
A protection policy can help meet the financial impact of a critical illness or injury. It can also offer complimentary services often offered within plans such as emotional, therapeutic and practical support.
Contractor income protection doesn’t have to be pricey. It can range from £13.89 per month for £1,000 cover per month  to £69.16 per month for £6,000 cover per month .
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 Based on a 24-year-old, non-smoker, working in IT, retiring at 65 could get £1,000 of cover a month with The Exeter for £13.89. Based on a 4-week waiting period. Payable for max 2 years in any one claim and subject to health underwriting.
 Based on a 24-year-old, non-smoker, working in IT, retiring at 65 could get £6,000 of cover a month with The Exeter for £69.16. Based on a 4-week waiting period and level cover. Payable for max 2 years in any one claim and subject to health underwriting.
This example is fictitious and provided for illustration purposes. The actual price will depend on your circumstances and underwriting.
Please note for this insurance product terms and conditions apply. This information is a summary only. You will receive a full policy document upon application.
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 IPSE, Self-employed sector surging new stats show, May 2019
 Stroke Association, State of the Nation 2017
 BHF Statistics 2017, CVD Statistics Fact Sheet
 Cancer Research UK, November 2017
 Vitality, Income Protection Cover Reasons Why, August 2016
Lifetime Finance Group Limited trading as Super Contractors is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited, which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products.