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Why Personal Accident and Sickness Insurance is important to Freelancers

Posted on 21st February 2017 by Natalie Albert

Personal Accident

If you had an accident at work or had to take time off work due to sickness, would you be ok financially?

Working as a Freelancer or Contractor has many benefits but unfortunately they do not extend to sick pay. If you can’t work you can’t earn money.  This is why we feel one of the most important insurance products to purchase is Personal Accident and Sickness. This insurance takes care of you when you need it most.

What are the benefits of this cover?

Accidental Death and Permanent Disability pays a lump sum payment for death as a result of an accidental cause or permanent disability which prevents you from carrying out your normal occupation. It includes, but is not limited to, the loss of sight, hearing and limbs. Cover starts from £50,000 and can be increased to as much as £140,000.

The policy can be extended to include Temporary Total Disablement (TTD), which in plain English means that if you are unable to carry out your usual occupation due to a temporary injury the policy will pay a regular sum to cover your lost earnings. You can chose the cover required from £150 to £1000 per week.  The cover period is 52 weeks, making the weekly benefit payment selected by you, providing it does not exceed 65% of your annual salary. 

We also offer a Sickness extension providing the same benefits as the above temporary total disablement cover. Whilst all covers are important the majority of claims we see are due to sickness.

Having a policy that provides you with cover 24/7, meaning you are insured at work, home, play and whilst commuting gives you peace of mind so you can get on with what you do best.

Claims 

Take a look at some of the incidents that have impacted our freelance and contractor clients in the past.

Freelancer had coronary artery bypass surgery, £2,614.29 paid in sickness benefit.
Freelancer banged his head and affected his sight, £7,799.46 paid in TTD benefit.
Freelancer has been unable to work for a short period due to illness, £342.86 paid in sickness benefit.
Freelancer has been signed off sick from work, £1,200 paid in sickness benefit.
Following accident Freelancer had toe amputated, £8,991.46 paid in TTD benefit.
Freelancer broke wrist and ribs in a road traffic accident, £11,100 paid in TTD benefit.
Freelancer injured on a motorbike on way to work, £5,000 paid in TTD benefit.
Freelancer fell off tower and shattered his elbow, £10,400 paid in TTD benefit.
Freelancer contracted pneumonia and is in a medically induced coma, £14,500 paid in sickness benefit.

These are all examples of incidents that could easily happen to any of us, it’s impossible to predict the future but you can prepare for as many possibilities and protect yourself and your family.

Things to consider about sickness cover?

As an extra thought you may also want to consider Travel Insurance. Did you know Freelancers and Contractors travel 3 times more often than ordinary employees?

Our annual Business Travel & Holiday insurance provides cover for you and your family, for unlimited worldwide business and holiday trips for £153.04.  You are far more likely to suffer an injury at work and travelling to & from work.

We hope you never have the need for this type of insurance but if you do you can feel secure that you have the insurance you require to focus on your recovery.

If you have any queries please get in touch 0161 833 2100.

 


Related Articles:

What are your Insurance options as a Freelancer.

Personal accident and sickness insurance.

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