If you’re a contractor or self employed, what insurance do you have

[Alifemoreordinary123]

My DH is about to start contracting and will lose all employment rights. He’s always had sick cover and death in service through work so we’ve never had to bother sorting this. He won’t have proof of contracting earnings and we want something in place for when he leaves employment. We’re definitely thinking life insurance but what do you do re income protection / sickness cover if you’re a contractor?

Sorry I don’t know the answer, but I’m also keen to know this. Hopefully someone comes along soon to help you!

I’m self employed and have life insurance, critical illness and income protection. So three policies. All through the same insurer and sorted at the same time (Aviva). Premiums depend on how much cover you want e.g. how much per month income protection would pay out if I couldn’t work. I couldn’t afford a high level of cover but my policy would pay out enough to at least cover my mortgage payment.

None. I’m uninsurable because of past mental health issues. Critical illness cover has so many exclusions too (even without pre existing conditions) and only pays out for a couple of years, I’m not sure it’s worth it

I've looked into this, but as pp has said once you add in your medical history the cost goes insane.
I decided just to try and over pay my mortgage as much as I could instead and cross my fingers.

I've also had potentially 3 small insurance claims where I've felt I've been covered (house, car & travel) in the last few years (nothing to do with health) and the insurance companies have found exclusions buried in the miles of small print and so I can't be bothered.

You probably need a good, honest & knowledgeable insurance broker to navigate it all for you.

Thanks for your replies. I’m so worried about this. My DH is terrible with this sort of admin and has MH issues. We’re probably 5 years off it not mattering too much in terms of mortgage payments and living costs. I will see what I can do to sort.