If you are unable to work due to injury or illness Personal Accident and Illness will supply you with a portion of your usual income. This can help to pay for bills, support your family, and prevent you from draining precious funds out of your business or personal assets to keep financially afloat whilst you are unable to perform.
Generally Personal Accident and Illness Cover will supply you with up to 85% of your income for an agreed benefit period as per the policy. These funds can be used for anything you need to spend it on, much like in the event of an employee receiving ‘sick leave’.
Working as a contractor often means you are entering unfamiliar work sites and risks are sometimes unknown, opening up the chances of a workplace incident happening. Other factors that may render you ill or injured include working with:
- Hazardous chemicals
- Dangerous machinery or equipment
- Fires and explosions
- General falls, scrapes, and minor injuries
If you find yourself unable to work as a result of any of these, if you inure yourself, or become ill because of your work, you will need to consider who will pay for your lifestyle, bills, and support your dependents. Accident and Injury Insurance will safeguard your everyday life in the case you cannot meet payments yourself.