What Insurance would cover injury? If any?

**Craig@Clarity** · 16 September 2011, 09:06

Could be PHI or sick pay packages. Both have there pro's and con's as to whether they are paid from the company or personally and depending on who the beneficiary of the policy or plans are.

**malvolio** · 16 September 2011, 09:47

Rather depends who caused the injury...

But basic earnings potection sick pay cover should cover it after the qualifying period. You should have that in place anyway, you don't get SSP any more.

**MCC7** · 16 September 2011, 09:51

Originally posted by malvolio View Post

Rather depends who caused the injury...

But basic earnings potection sick pay cover should cover it after the qualifying period. You should have that in place anyway, you don't get SSP any more.

Is that something that I have to set up or something that is covered by taxman/current cover?

**northernladuk** · 16 September 2011, 10:20

What you don't mention is what monies it covers you? Are you expecting and income from this, if so are you expecting it to be your PAYE equivalent or your full income in a month inc divis (I am assuming you are not brolly). Remember a policy that promoises to match your wage each month is nigh on useless to us.

**malvolio** · 16 September 2011, 12:40

Originally posted by chana7 View Post

Is that something that I have to set up or something that is covered by taxman/current cover?

You have to buy it.

As a permie, you get a day off with man flu, you still get paid through the Statutory Sick Pay scheme - the employer pays the first five days, then HMG cover your employer for three months, then they take over the costs n a sliding scale arrangement (or yuo go on to diability benefit!). Thing is, it's all wrapped up iny your conditions of employment.

As a contractor, none of that applies. No work equals no pay, no matter why. so the sensible thing is to get some cover in case you're off sick or wounded. For example mine kicks in after 13 weeks and is about enough to keep paying the mortgage.

Yuo have to shop around, it can get very expensive. Or do without it and ensure you're never so ill or damaged you can't sit at a desk and use a mouse.

**SueEllen** · 16 September 2011, 12:43

Originally posted by chana7 View Post

Is that something that I have to set up or something that is covered by taxman/current cover?

You need to set it up yourself. I would advise you to first do some research on financial websites i.e. fool.co.uk, moneysavingexpert.com (you can even post on them) then go to a IFA who gives advice.

The reason you need an IFA that gives advice is that some PHI providers don't cover contractors if they aren't in a contract. In addition depending on why you were sick some of them may refuse to cover you.

**MCC7** · 16 September 2011, 15:53

Ok so what we're saying is that , yes, there are policies (Private Health Insurance) that covers for illness/injury. That answers my question.

Can anyone recommend a decent policy/insurer?

**SueEllen** · 16 September 2011, 16:27

Originally posted by chana7 View Post

Ok so what we're saying is that , yes, there are policies (Private Health Insurance) that covers for illness/injury. That answers my question.

Can anyone recommend a decent policy/insurer?

Can you please re-read my post again and follow the advice given.

There is no recommended policy/insurer because:
1. These policies are only now sold through brokers
2. The policy that is right for you depends on:
a. Your previous illnesses (if any)
b. The amount you want to protect
c. Your age
d. Your gender
e. Your deferrement term

There is a broker you can get a policy off the web but they aren't recommended due to the fact you are a contractor and some insurers place certain restrictions on people.

As someone who has a PHI policy both brokers I approached found the same company would cover me for the same price.

You can find a broker by:
1. Recommendation
2. Going to British Insurance Brokers Association :: BIBA ::
3. Flicking through the yellow pages (which I wouldn't advise)

What Insurance would cover injury? If any?