Helping you protect you and your family from the unexpected
What would happen if you were unable to work?
Many of us don’t realise just how quickly our money would run out if anything happened to us, or our partner, as a result of long-term sickness, injury, a serious illness or death.
So, it makes sense to protect yourself and your family against the unexpected. That’s why we’ve partnered with CMME, an award-winning firm of financial advisers, who specialise in providing protection for contractors and umbrella employees like you.
As an umbrella employee, you may not be covered by a workplace policy provided by your employer, therefore, it is entirely up to you to arrange all the necessary means to ensure that you and your family are protected when it matters most. With so much uncertainty throughout the past year, there has never been a better time to consider financial protection, for your peace of mind.
What financial protection is available to umbrella employees?
Income protection insurance
As a contractor, you become immediately vulnerable to loss of income if you suffer an illness or injury. Income protection provides a tax-free income to support you if you are unable to work due to illness or events beyond your control.
Critical Illness Insurance
Critical illness cover will pay a lump sum on diagnosis of a critical illness, giving you the financial breathing space to focus on your recovery. Because worrying about paying your bills is the last thing you need to be thinking about You can use this money towards medical costs or pay off your mortgage (there are no limitations).
Although it is a topic most of us would rather avoid, it is important not to – particularly if family depends on your income This will ensure your loved ones are taken care of in the unfortunate event of something happening to you.
Relevant Life Cover
If you are switching between umbrella employment and your limited company, you might want to consider relevant life cover. This serves the same purpose as life insurance; however, it is set up through your client’s limited company and is a tax-efficient way for a contractor to provide for their family in the event of death or diagnosis of a terminal illness.
Talk to a protection expert
Whether you are looking for advice on putting financial protection in place or simply want to review your current protection arrangements to check they are still adequate, CMME can provide independent advice and recommendations tailored to the way you work.