Super Men’s Health: The Power of Protection

This month men all over the country will be growing out their facial hair for Movember as a fun way to raise awareness of men’s cancer and mental health risks.

We all think “It won’t happen to me”. But most of us know of someone either directly or through friends and family that have been affected.

Prostate Cancer was the most common cancer found in males, the second most common cancer and the fourth most common cause of cancer death in the UK in 2013. [1]

Testicular Cancer had around 7 cases diagnosed every day in 2014 and 47% of cases were diagnosed in males under the age of 35 from 2012-2014. Since the 1970s incidence rates of testicular cancer have risen by an astounding 90%. Thankfully testicular cancer has a high survival rate with 98% of males diagnosed surviving at least 10 years. [2]

Men’s mental health awareness is also important to the Movember Foundation. Suicide rates are over three times higher among men than women in the UK, at 16.8 per 100,000 people in 2014 [3] and in 2014 75% of suicides in the UK were male [4]. When you combine that with research from 2015 that found 70% of managers didn’t believe stress, anxiety or depression were valid reasons for taking time off work, [5] it’s vital to overcome the stigma surrounding mental health in the workplace and among men.

What’s Your Battle Plan?

What would you do if you were diagnosed with cancer or another illness? What would happen if you were unable to work due to an illness or accident? Having critical/serious illness cover and income protection can help you cope financially with these situations. Many providers also offer access to support during what can be an overwhelming and difficult time.

Speak to our expert protection advisers about Critical Illness Cover. Freephone 0800 211 8700 or request a callback.

Contract Mortgages Ltd trading as Super Contractors is an appointed representative of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority.

Sources:

  1. http://www.cancerresearchuk.org/health-professional/cancer-statistics/statistics-by-cancer-type/prostate-cancer
  2. http://www.cancerresearchuk.org/health-professional/cancer-statistics/statistics-by-cancer-type/testicular-cancer
  3. http://www.samaritans.org/sites/default/files/kcfinder/files/Samaritans%20suicide%20statistics%20report%202016.pdf page 15
  4. http://www.samaritans.org/sites/default/files/kcfinder/files/Samaritans%20suicide%20statistics%20report%202016.pdf page 37
  5. http://www.telegraph.co.uk/news/health/11506250/Germanwings-crash-Seven-in-ten-bosses-do-not-think-mental-illness-merits-time-off-work.html

Contractor Income Protection – Protecting Your World, When You Can’t

Who pays if you aren’t earning a day rate?

According to a recent study from LV, 33% of self-employed said they couldn’t survive for more than 3 months if they lost their income [1]. Leaving them vulnerable to financial shocks like long-term sickness. With this worrying statistic, could you and your family cope if you weren’t earning an income?

If you’re too ill to work, you could apply for Employment Support Allowance instead. This means for the first 13 weeks of sickness, self-employed would receive less in state benefits compared to those that are employed and eligible for Statutory Sick Pay.

Benefit

Weekly amount How long

Entitlement

Statutory Sick Pay

£89.35 Up to 28 weeks

Employed

Employment Support Allowance:
Assessment rate

£57.90 under age 25
£73.10 age 25+
Up to 13 weeks

Employed & Self-employed

Employment Support Allowance:
Work-related group
£86.95 under age 25
£102.15 age 25+
Up to 52 weeks

Employed & Self-employed

Employment Support Allowance:
Support group

£94.45 under age 25 £109.65 age 25+ n/a

Employed & Self-employed

Source: DirectGov.co.uk, Employment and Support Allowance (ESA), Sept 2017

Note: If you receive state benefits or claim money under any other insurance policy, the amount paid out by your income protection provider may be reduced.

Without the safety net of employer’s benefits such as sick pay, taking advantage of income protection could be the way to protect your family. It also means if you couldn’t work, you can avoid having to rely on state support or savings accounts you may have.

Looking to find out more about Income Protection?

With Contractor Income Protection, you can generally financially protect up to 70% of your gross salary. It’s designed to replace your income if you were to face an illness or injury and you could no longer work. It pays out a tax-free (under current legislation – tax year 2017/2018) monthly sum, which can be used to help ease any financial hardship whilst you’re unable to work.

37% self-employed think Income Protection would be too expensive [2]

Income protection doesn’t have to be pricey. For instance for a 24 year old (non-smoker, working in IT, retiring at 65, could cost 13.89 per month for £1000 cover a month, or £69.16 for £6000 per month cover.

The actual cost of cover will dependent on your personal circumstances and the level of cover required. Please contact us for a personalised illustration.

[3] Based on a 24-year-old, non-smoker, working in IT, retiring at 65 could get £1,000 of cover a month with The Exeter for £13.89. Based on a 4-week waiting period. Payable for max 2 years in any one claim and subject to health underwriting.
[4] Based on a 24-year-old, non-smoker, working in IT, retiring at 65 could get £6,000 of cover a month with The Exeter for £69.16. Based on a 4-week waiting period and level cover. Payable for max 2 years in any one claim and subject to health underwriting.

If you were thinking about saving the amount you’d put using a rainy-day savings account, you would need a significant sum to match the sort of pay-outs that can be offered by an income protection policy.

For more information about contractor income protection, speak to our expert Protection advisers. Freephone 0800 211 8700 or fill in our online enquiry form.

Terms and conditions apply. This information is a summary only. You will receive a full policy document upon application. This policy will set out the terms, conditions and limitations of this product.

_ _ _ _ _ _ _

Super Contractors is a trading name of Contract Mortgages Ltd, registered in Scotland at 1st floor, 207 Bath Street, Glasgow, G2 4HZ SC465654. Contract Mortgages Ltd is an appointed representative of First Complete Ltd which is authorised by the Financial Conduct Authority (FRN: 435779) for mortgage and non-investment advice.

Sources:

[1] [2]  LV Research – Heightened risk of financial crisis for self-employed, https://www.lv.com/adviser/news/heightened-risk-financial-crisis-self-employed, Sept 2017

Relevant Life Cover – What You Need to Know

To request a quote for Relevant Life Coverfill in our online enquiry form or freephone 0800 211 8700

Super Relevant Life Cover for LTD Company Directors

To request a quote for Relevant Life Coverfill in our online enquiry form or freephone 0800 211 8700

Contractor Income Protection – Who Pays When You Can’t?

1 in 5 self-employed say they aren’t financially secure if they were to lose their income [1]. Who would pay if you weren’t earning a day rate?

Looking to find out more about Income Protection? Speak to an adviser today.

What’s Your Protection Power?

Over 4 million self-employed are without financial protection [2], a worrying statistic. An excuse we often hear is “I’ll just put into my own savings pot every month, rather than pay a Life Insurance company.” So, you put £50 away into a bank account as you’re first month’s “payment” – the following month you injure yourself and you’re now going to be off work for a few months. Now what have you got for you and your family – £50…?!

Family Fears

While everybody needs a rainy-day savings fund, you would need a significant sum to match the sort of pay-outs that can be offered by an income protection policy.

With two thirds of self-employed worker’s households reliant on one wage earner’s income [2], how would you and your family cope without your income? The stats show that you are 26 times more likely to incapacitated and off work for more than 6 months, than to die before the age of 65 [3].

Super Contractors To The Rescue

With Contractor Income Protection, you can generally financially protect up to 70% of your gross salary. It’s designed to replace your income if you were to face an illness or injury and you could no longer work. It pays out a tax-free (under current legislation – tax year 2017/2018) monthly sum, which can be used to help ease any financial hardship whilst you’re unable to work.

Terms and conditions apply. This information is a summary only. You will receive a full policy document upon application. This policy will set out the terms, conditions and limitations of this product.

Speak to one of our advisers about Contractor Income Protection, Freephone 0800 211 8700 or fill in our online enquiry form.

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Sources:

  1. 4.3 million self-employed people left exposed by ‘protection gap’ http://www.covermagazine.co.uk/2472903, Oct 2016
  2. Scottish Widows, 4.3 Million Self-Employed People Left Exposed by Financial Protection Gap, Oct 2016
  3. Vitality, Income Protection Cover Reasons Why, 2016.

We do not charge a fee for our services, we receive commission from the provider.

Super Contractors is a trading name of Contract Mortgages Ltd, registered in Scotland at 1st Floor, 207 Bath Street, Glasgow, G2 4HZ SC465654. Contract Mortgages Ltd is an appointed representative of First Complete Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 435779) for mortgage and non-investment insurance advice.

Super Contractors takes part in Wear a Hat Day

Today, we took part in Wear a Hat Day for Brain Tumour Research!  Wear a Hat Day takes place all over the UK. We, at Super Contractors, took part to help raise awareness and vital funds for this pioneering charity.

Gordon Hunter, Managing Director at Super Contractors, said: “The diagnosis of a brain tumour is devastating news to receive. Not only for the individual, but their family and friends as well. We are proud to help fund the fight against this disease which takes children from their parents and parents from their children before their time.

“Brain tumours kill more children and adults under the age of 40 than any other cancer! We felt we had to do something to make a difference. It is vital to have the support for research and funding for such a critical illness. It’s also why we are so passionate about Critical Illness Cover.

Critical illness cover pays out a lump sum if the worst was to happen to you and you were diagnosed with a serious illness. Having a Critical Illness Cover in place can help ease your recovery by paying out the money you need for your care and treatment, your recuperation, help pay off your mortgage or make up for lost income.”

Crispin Zeeman, Head of Marketing for Brain Tumour Research, said: “We are extremely grateful to Super Contractors and are impressed by their commitment to helping our cause. Such support is vital in order to help us to fund the fight as we work to improve the lives of patients and, ultimately, find a cure for brain tumours.”

Brain Tumour Research helps fund an annual £1 million programme of research at its Centre of Excellence at the University of Portsmouth. Further partnerships announced last year with Plymouth University, Queen Mary University of London, and Imperial College pave the way for a £20 million investment in brain tumour research over the next five years.

For more information about critical illness cover, freephone 0800 211 8700 or fill in our online enquiry form.

For more information about Brain Tumour Research visit www.braintumourresearch.org

 

Notes to Editors

Fundraising in its own right, Brain Tumour Research is also an umbrella charity, working in collaboration with Member Charities around the UK. Together with this network and supported by the fundraising achievements of our Umbrella Groups and fundraisers across the UK, over £4 million was raised during 2015 to fund both brain tumour research and to provide support for patients and families.

Brain Tumour Research’s Invest In a Cure manifesto calls on the Government and the larger cancer charities to increase national investment in brain tumour research to between £30 million and £35 million, in line with other cancers. This issue was taken up by the Petitions Committee as the subject of their first-ever inquiry, resulting in their report “Funding for research into brain tumours”. This led to a debate in the House of Commons in April 2016 where then Health Minister George Freeman MP formally acknowledged more must be done for brain tumour patients and their families and announced measures to begin to address the issue. Brain Tumour Research will be playing a key role in the Government Task and Finish group convened to take the issue forward.

Key statistics on brain tumours:

  • Brain tumours kill more children and adults under the age of 40 than any other cancer…
  • Yet just 1% of the national spend on cancer research has been allocated to this devastating disease.
  • 16,000 people each year are diagnosed with a brain tumour.
  • Less than 20% of those diagnosed with a brain tumour survive beyond five years compared with an average of 50% across all cancers.
  • Incidences of, and deaths from, brain tumours are increasing.

Critical Illness Cover for Contractors – Do You Need It?

Could you and your family cope financially if the worst was to happen and you were to become seriously ill and not earn a living? Read on for our infographic, Critical Illness Cover for Contractors – Do You Need It?

Enquire today about Critical Illness Cover, fill in our online enquiry form or freephone 0800 211 8700.

Contractors Aren’t Invincible – The Super Importance of Income Protection

There are 4.75 million self-employed in the UK [1]. A figure that has steadily increased throughout 2016, looking to continue in 2017 and by 2018 self-employed are set “to outnumber state workers” [2]. There are more and more people recognising the benefits of being their own boss and working flexibly. With the benefits of being your own boss, come the disadvantage of losing any kind of employee benefits package.

Permies have their back-up plan…

Whilst permies may have the benefits of at least 3-months pay in the event of accident or sickness, there are more than 4 million self-employed people that do not have a back-up plan for if they were unable to work, despite being relied on by families for their income. [3]

21%

say they would not be financially secure at all.

12%

don’t know how long they would be able to pay their household bills if unable to work.

30%

said they wouldn’t be able to rely on a single income.

Source: Scottish Widows, 4.3 Million Self-Employed People Left Exposed by Financial Protection Gap, Oct 2016

Who saves the day when there’s no income?

With two thirds of self-employed worker’s households reliant on one wage earner’s income, this gives us a worrying picture of contractors in the UK. What would the consequence be if you weren’t earning a living?



Income Protection to the rescue!

Income Protection comes to the rescue in the event that you are forced to hang up your cape due to injury, illness or redundancy.

It can provide funds towards your monthly outgoings until you either return to paid work or retire (whichever comes first).

Signal Super Contractors. They’ll Know What to Do.

Super Contractors will arrange the most suitable Income Protection policy so that you receive regular payments in the event that you need to make a claim.  With so many families relying on a single income, it is so important that a back-up plan is in place in case the worst was to happen.

For more information on Income Protection and other insurance types, Freephone 0800 211 8700 or request a callback.

Sources:

  1. Self-employed ‘to outnumber state workers by 2018’ https://www.ft.com/content/7a70828e-b36b-11e3-bc21-00144feabdc0
  2. UK Labour Market: Dec 2016 – ONS Employment Figures https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/dec2016
  3. 4.3 million self-employed people left exposed by ‘protection gap’ http://www.covermagazine.co.uk/2472903

 

We do not charge a fee for our services, we receive commission from the provider.

Super Contractors is a trading name of Contract Mortgages Ltd, registered in Scotland at 1st floor, 207 Bath Street, Glasgow, G2 4HZ SC465654. Contract Mortgages Ltd is an appointed representative of First Complete Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 435779) for mortgage and non-investment insurance advice.

INFOGRAPHIC: Income Protection Cover – Do You Need It?

If you are unable to work because of illness, injury or disability – could you still pay your mortgage, bills or other living expenses? Check out our infographic below on Income Protection Cover: Do You Need It?

ip-doyouneedit

Find out more information about Income Protectionor freephone 0800 211 8700.

Life Insurance: What You Need to Know About Trusts

Dealing with money issues after the death of a loved one can be extremely distressing. It is not the time when you will want to deal with complicated financial issues and unfortunately probate is a complex and time-consuming process which can take up to several months to complete.

Putting your life insurance into trust can be an option to remove some of these complicated financial issues. Read on for our infographic on What You Need to Know About Trusts.



Trusts - Client