Income Protection for Contractors
Essential cover for you and your family in case you're unable to perform your contract duties due to poor health. Read more and get a quote for Income Protection (PHI)

Critical Illness guide for IT contractors

Published on Jan 14, 2009 |

Contract Eye appreciate that the high stress levels that contractors sometimes work under can mean that they are more susceptible to conditions such as heart attack, stroke and cancer.

Whilst it is hard to avoid these common illnesses that are often associated with a Western lifestyle, there is an easy way to protect your self financially if the worst should happen.

We have teamed up with our long-term partner IFA, Contractor Financials, to help you to arrange critical illness cover that will protect you from the financial consequences of falling ill.

This cover can do more than just settle debts or an outstanding mortgage; it will pay out a lump sum on diagnosis that can help you to pay for medical bills, adjustments to your home to help you cope with the illness, or simply a holiday to recharge your batteries after what may have been a traumatic time.

You might also be interested in reading our guide to IT Contractor life cover.

What are the benefits?

Critical Illness cover pays out on diagnosis of a condition rather than on death so that you can make use of the income whilst you are recuperating.
It can help you fund changes to your car or home so that your life remains as normal as possible if your mobility is reduced and to help you keep your independence.
The critical illness policy an help repay outstanding debts or mortgage loans

How does it work?

Critical illness is best used in conjunction with Income Protection (Permanent Health Insurance) which will give you a monthly income if you become too ill to work and will continue to pay until you return.
With Critical illness cover you will receive a single pay out on diagnosis which is non-refundable, even if you return to good health.
Like life cover, you can arrange your critical illness policy to cover you for a fixed term such as up to retirement, or for the whole of your life.
You also have the option of decreasing term assurance (DTA) when the amount of cover decreases over time, or level term assurance (LTA) when the cover stays the same for the life of the policy.

Get a Contractor Critical Illness Quote

Contractor Financials are Independent Financial Advisers regulated by the FSA 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 history of paying claims and offer an affordable cover for Freelancers for the duration of the policy.

To find out more fill in our protection finder or call 0845 062 8888 quoting Contract Eye

Critical Illness Protection Finder (* = Required Field)

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.

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Qdos - IR35 experts - Providers of low cost insurances
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K & B Accountancy Group- Fixed fee accounting for contractors only £75pm
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Umbrella4Contractors - Low fees, same day setup
Professional Indemnity Insurance - Contractor PI cover

Your Name*
E-mail*
Phone
Mobile
Date of Birth
Sex	Male Female
Smoker?	No Yes
Cover Required (Check one box)	LTA (Level Term Assurance) DTA (Decreasing Term Assurance) WOL (Whole Of Life) FIB (Family Income Benefit)
Amount of Cover Required (In 000's)
Term (In Years)
Inflation Proofed?	No Yes
Waiver of premium?	No Yes
If joint cover is required, please enter partner's details below, else click on 'Send'.
Partner's Name
Date of Birth
Sex	Male Female
Smoker?	No Yes
Waiver of premium?	No Yes
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Contract Eye - for New IT Contractors

Critical Illness guide for IT contractors

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