Critical Illness Cover

[silverlight1]

Please can anyone recommend critical illness cover providers for contractors.

I've recently had need to review my lack of cover in this area after a health scare.

[Lance]

Please can anyone recommend critical illness cover providers for contractors.

I've recently had need to review my lack of cover in this area after a health scare.

You need an IFA really.
Identifying a policy that includes dividends in the income is what's needed. A lot just do salary and that's not a lot of use. Unless you're inside IR35.
Mine is with BUPA, but I bought it over 10 years ago.

[saptastic]

Please can anyone recommend critical illness cover providers for contractors.

I've recently had need to review my lack of cover in this area after a health scare.

See here on CUK: Critical Illness

HTH

[WordIsBond]

You need an IFA really.
Identifying a policy that includes dividends in the income is what's needed. A lot just do salary and that's not a lot of use. Unless you're inside IR35.
Mine is with BUPA, but I bought it over 10 years ago.

You only need an IFA if you don't want to take the time to shop around and aren't competent to read the fine print yourself.

I haven't looked at this for a while, but it used to be there were policies that provided an income (in which case Lance's point applies) or policies that simply provided a lump sum (in which case it doesn't).

You may also want to look at Aviva's Significant Illness Cover within a Relevant Life Plan. It only pays if you are forced to retire by a covered illness -- but your company can pay it as a tax-free benefit.

[SimonMac]

I've been talking to CMME as part of my mortgage process, would recommend.

[CMMEgroup]

Being diagnosed with any number of Critical Illnesses (such as Cancer, Heart Attack and Stroke to name just a few) can lead to life changing consequences. Financial commitments are amongst the last things that families wish to concern themselves with should this happen. Contractors are particularly vulnerable to the impacts of serious ill health as their income is usually completely dependent on them being able to work. There are very good policies available to safeguard against the financial consequences of ill health but also an ever more complicated market of insurers and products from which to select. To ensure you are covered appropriately, it is a always a good idea to receive advice from those experienced with both the contractor market and the types of financial protection available.

[jonskids]

As others have mentioned you do really need to speak to an IFA. If (as your opening post suggests) you've had a recent health scare that'll need to be declared to the insurer to make sure the policy is valid and there are no issues if you have to make a claim (which I hope you won't have to).