Short-term Income Protection Cover

This policy does not require the same degree of medical underwriting as Long-Term Income Protection. The application process is all carried out online and acceptance can be instantaneous. You will see that some short-term Income Protection policies include unemployment cover (ASU) but often the self-employed or company Directors find it virtually impossible to prove an unemployment claim and so can be paying a high premium for cover they will never be able to benefit from.

How does this policy work?

• You select how much benefit you need and for how long, either 12 or 24 months
• Cover can be up to a maximum of 65% of your gross earnings, including Dividend payments, up to a maximum of £2,000 in benefit per month
• Benefits are tax free, but do not incur benefit in kind payments

Benefits of ContractorCover Short-term Income Protection

• Back to Day One cover - No excess period, or reduce your premiums more by specifying 30 or 60 days excess
• Up to £2,000 in benefits per month
• Own Occupation cover
• Benefits can be used for Mortgage repayments, rent, or any regular bills such as insurance
• No premium loading on the basis of age or gender
• Easy online sign-up

Glossary

Back to Day One

This is the period of time after a claim is made before receiving benefit. If you are off work for more than 30 days the Benefit is payable from the first day that the policy holder is unable to work. The benefit is paid monthly in arrears.

Pre-existing Condition

If you have a pre-existing condition which could result in your having to take time off work you may not be able to claim. You must mention any pre-existing conditions and these may be excluded from the policy.

These policies are available on a direct offer basis. You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed. If you have any concerns about the suitability of this type of Insurance for your particular needs we suggest that you seek Advice.

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