Privately owned umbrella company, Paycheck Services Ltd. was established in 1997 by a contractor, for contractors. Built on reputation and recommendation and upheld by two generations, Paycheck's longevity and deep rooted values are comparable to no other Umbrella Company in the UK!

Are you one of the 5 million Britons that have no protection for their mortgage if they can’t work?

Contractors are often aware of the need to self-protect against periods out of work but a scary number forget to put any protection in place to cover mortgage payments if a longer term illness or injury prevents you from working.

A recent study by Royal London suggests that over five million mortgage holders in the UK have absolutely no insurance to cover repayments if anything should happen to prevent them from working. For the average employee, that is a daunting prospect, but for a Contractor, that has potentially disastrous consequences as you won’t have the safety net of an employee sick pay package to fall back on.

The good news is that Contractors can access a wide range of insurance products that can be specifically tailored to protect your contract income. From income protection which pays out a regular monthly sum to cover your mortgage repayments and any other household expenditure if you are too ill to work, to critical illness insurance which pays out a lump sum on diagnosis of a specified critical illness, regardless of whether or not you recover.

Protection tailored to your Contractor status

ContractorFinancials have negotiated a range of specialist policies which are specifically tailored to your unique needs as a Contractor. You can now secure income protection based on your contract rate so you can protect a higher percentage of your income than a traditional policy based on salary and dividends. An alternative product allows you to pay for your premiums through your limited company which is an allowable business expense and therefore reduces your corporation tax liability.

These policies can help provide an income to cover mortgage repayments if you are off work but if the worst should happen, it is equally important to ensure that your family are protected from the financial burden of your mortgage. A life insurance policy can clear any mortgage debts on death so that your dependents don’t have to worry about keeping up with the repayments.

Tax efficient life insurance

ContractorFinancials have negotiated a specialist policy for Contractors that enables you to pay for life insurance through your limited company without any benefit in kind considerations. This helps to reduce your corporation tax bill and any pay out goes directly to your dependents so they don’t have the hassle of drawing the income out of your limited company.


To find out how you could protect your income and your home call the award winning Protection Advisers at ContractorFinancials on 0333 370 8888 or email This email address is being protected from spambots. You need JavaScript enabled to view it.