Contractor Income Protection
Most banks and building societies are tied to a single provider, so you just get their branded deal. Banks make a lot of money by selling various income protection products, with a mortgage or loan. A few deals are constructed in such a way that you cannot separate the finance and protection. Most deals offer you some cover, which tends to be priced on the high side, and may not suit your individual circumstances. Some even make you pay for it if you do not opt out, while others will suggest it is part of the overall deal. In practice, in the vast majority of cases contractors have the freedom to look elsewhere in the market for a cheaper and/ or more suitable insurance...read more