Private medical insurance for IT contractors
Contractors looking to cover themselves and any dependants for specialist and hospital treatment costs may be interested in find out more about private medical insurance (PMI).
Contractor Insurance
You may need to take out some form of insurance cover as a condition of your contract or consider policies (for example tax protection) to provide peace of mind. Here we look at the main types of policy available to contractors, and how to get the best deal.
Most Popular Guides
- Relevant Life – tax efficient life insurance, paid for by your limited company. You can save up to 50% compared to paying the premiums personally.
- Professional indemnity (PI) insurance – many clients insist that you are covered as a contractual condition. You can also get retroactive and run-off cover for full protection.
- Are you legally obliged to take out business insurance as a contractor? – in some cases you are, and in others you would only take out specific cover to provide peace of mind (e.g. tax investigation cover).
- Private Medical Insurance – first-class treatment if you or members of your family fall ill and don’t want to endure NHS waiting lists.
- Why IR35 insurance is essential – what if HMRC launch a tax investigation? – this will cover the costs of professional representation in the event of an HMRC enquiry.
- An overview of public liability insurance (PLI) – this will cover you if you damage persons or property whilst on contracting duty.
- An overview of employers’ liability insurance (ELI) – do you have employees? If you do, you must hold valid cover. Many contractors are excluded though.
- Income Protection – provides income in case you are unable to work. A popular type of protection for professional contractors.
- Critical Illness cover – pays out if you become seriously ill. This type of cover is often taken out in conjunction with relevant life insurance (see above).
