Contractor Life Insurance - Insurance Services

Specialist Life Insurance Plans: Rigg Access has teamed-up with CURA The Special Risks Bureau, who provide expert advice for people working at heights, offshore and in high risk industries.


Contractor Life Insurance Overview

  • Contractor Life Insurance Specialist Life Insurance Plans Specialist Life Insurance Plans

    If you work in a potentially hazardous environment they would be happy to assist and provide you a quote tailored to your circumstances.

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  • Specialist Life Insurance Plans: Rigg Access has teamed-up with CURA The Special Risks Bureau, who provide expert advice for people working at heights, offshore and in high risk industries.

    Specialist Life Insurance Plans

    Rigg Access has teamed-up with CURA The Special Risks Bureau, who provide expert advice for people working at heights, offshore and in high risk industries.

    They offer advice for a number of products including:

    • Life Insurance
    • Critical Illness Cover
    • Income Protection
    In the majority of circumstances they can often obtain cover without occupational exclusions or price increases.

    The Special Risks Bureau don't just provide quotes but also specialist advice. As a firm they pride themselves on their customer service and the quality of their advice. As such they have been shortlisted for and won numerous awards.

    If you work in a potentially hazardous environment they would be happy to assist and provide you a quote tailored to your circumstances.




    Life Insurance

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    As there are so many providers and options available, having a knowledgeable adviser helps you in sourcing the best policy with takes the pressure off you

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  • Life Insurance provides a tax-free lump sum to your loved ones if you pass away or are diagnosed with a terminal illness with less than 12 months to live. The money is paid out to your beneficiaries and can be used for any purpose such as clearing a mortgage or providing some financial stability against the loss of your income.

    The premium you will be offered will be influenced by things such as your age, if you smoke, your general health and your occupation. Once you have a Life Insurance policy set up, you pay the agreed monthly premium for a set amount of time. You can choose how much cover you have, how long over and if the cover will be level, decreasing or increasing.



    Its Aims:

    Life Insurance aims to pay a tax-free cash lump sum if you die or are diagnosed with a terminal illness during the policy term.

    Three main types of insurance are available:
    • Level Term Life Insurance: The assured sum is the same at the beginning and throughout of the policy. This is good for interest only mortgages and loans, and family protection in general
    • Decreasing / Mortgage Term Life Insurance: The sum assured decreases over time in line with the reduction in your liabilities. It is usually used to protect capital repayment mortgages or loans
    • Increasing Term Life Insurance: The sum assured increases over the term of the policy, this is mainly used to offset the effects of inflation and keep the policy current. Just be aware that as the benefit increases so does the premium
    Most medical conditions, hazardous pastimes, occupations and foreign travel have to be disclosed when applying for Life Insurance. Your insurance provider will make the decision on what they can offer you based on this information. As there are so many providers and options available, having a knowledgeable adviser helps you in sourcing the best policy with takes the pressure off you.

    Potential Optional Benefits

    Waiver of Premium: Allows your premiums to be waived if you cannot work for a period of time until you return to work.

    Indexation: Adds inflation linking to the policy so the benefit increases in-line with inflation.

    Terminal Illness: Included in most life insurance policies as standard and ensures that the benefit is paid if you are diagnosed with less than 12 months to live. Some insurers exclude this benefit during the last 18 months of the policy.

    Critical Illness Cover: You can bolt critical illness cover onto your life insurance so the policy will also pay out if you suffer a specified critical condition.

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    Critical Illness Cover

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    Finding an insurer that offers you the best terms is essential, therefore using a knowledgeable adviser with years of experience in the industry, can help you find the best policy for you.

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  • Critical Illness Cover pays out a tax-free lump sum if you are diagnosed with a specific Critical Illness. A payout can be used in various ways, such as paying off a mortgage, private medical care, replacing income or modifying your home.

    This cover can take the pressure off you and your family to focus on your health whilst protecting you financially. Being diagnosed with a critical illness can be a very stressful time for you and your loved ones. This protection helps you by providing a financial cushion to alleviate some money worries.

    Being diagnosed with a critical illness does not necessarily mean that you have to stop work permanently or have long periods of absence. But of course you may need time off for medical care and treatment.

    Modifying your home can be necessary if you are diagnosed with a critical illness that affects mobility such as paralysis or Parkinson's Disease. This money can be used to make changes to your home, such as a lift, ramps, or a downstairs wet room.

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    Its Aims

    Critical Illness Cover aims to pay a tax-free cash lump sum if you are diagnosed with a specific severe critical illness.

    You pay a monthly premium for a set period of time choosing between three policy types: Decreasing, Level or Increasing. When a successful claim is made, you will receive a cash lump sum. Depending on the provider you choose, you can find cover for between 40 and 161 critical illnesses – having a knowledgeable adviser can help in sourcing the best provider with the best terms.

    Three main types of insurance are available:

    • Level Term Critical Illness Cover: The assured sum is the same at the beginning and throughout of the policy. This is good for interest-only mortgages and loans, and family protection in general.
    • Decreasing / Mortgage Term Critical Illness Cover: The sum assured decreases over time in line with the reduction in your liabilities. It is usually used to protect capital repayment mortgages or loans.
    • Increasing Term Critical Illness Cover: The sum assured increases over the term of the policy, this is mainly used to offset the effects of inflation and keep the policy current. Just be aware that as the benefit increases so does the premium.

    Having a special risk can affect your Critical Illness Cover. Special risks can include hazardous pastimes, your occupation, a health condition and foreign travel. When applying for Critical Illness Cover you must disclose any of these special risks, as they will impact on the terms on your policy. Finding an insurer that offers you the best terms is essential, therefore using a knowledgeable adviser with years of experience in the industry, can help you find the best policy for you.

    Potential Optional Benefits

    Waiver of Premium: Allows your premiums to be waived if you cannot work for a period of time, until you return to work.
    Indexation: Adds inflation linking to the policy so the benefit increases in-line with inflation.
    Total and Permanent Disability: This provides an additional claimable condition that pays out if you become permanently disabled and never able to work again.


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    Income Protection

  • Contractor Life Insurance Income Protection Income Protection

    Income Protection aims to pay a monthly amount to you, if you cannot work due to injury, ill health or a disability.

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  • Income Protection provides a tax-free monthly sum paid to you if you cannot work due to injury or ill health. It is paid until you are able to return to work or until you retire, allowing you to pay your bills and maintain your lifestyle.

    Income Protection is generally a long term cover (until your retirement age), providing financial protection if you cannot work because of an injury, a health condition or a disability. Without Income Protection, you may have to rely on Statutory Sick Pay (SSP) at £88.45 per week – this is not much when you have bills to pay, food to buy, a mortgage etc. Furthermore to qualify for SSP, there are some criteria that you must meet, such as: you already work for your employer, you have not claimed 28 weeks SSP already, you pay National Insurance and so on.


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    Its Aims

    Income Protection aims to pay a monthly amount to you, if you cannot work due to injury, ill health or a disability.


    With Income Protection, the price that you will pay is dependent on your age, occupation, health, retirement age and the amount of your monthly income you would like to insure (i.e. a portion of this amount or the full amount). Income Protection is payable anywhere between 1 year up until retirement age; depending on your budget and preference.

    A deferment period will be asked when you apply for this cover; normal options are day 1 or 1, 4, 8, 13, 26, and 52 weeks. This is the time you must be unable to work before you can claim Income Protection. So if you choose 8 weeks deferment, you will need to not be able to work for 8 weeks, before making a claim. Some specialist providers can offer very short deferments were claims can be considered after 1 day's absence. It is worth bearing in mind that the shorter the deferment, the higher the premium offered by the insurance company as they are more likely to have to pay a claim.

    If you have an enhanced sick pay scheme at work, you can still apply for Income Protection as a way to increase your income in line with any loss of earnings. This cover can be tailored to you, so that if you receive, for example, half pay through your enhanced sick pay scheme, Income Protection can work to mirror that amount, so you are, in effect, receiving your nearer your standard salary amount.

    In terms of special risks, insurers will need to know about your occupation, any hazardous pastimes, foreign travel and any health conditions. The provider can offer normal terms, special terms, or in some cases even decline cover. Placing your cover with the best terms and the best provider is essential and we have years of experience and knowledge in sourcing insurance providers for a range of clients. Some occupations are only covered by a small range of specialist providers such as rope access workers, oil riggers, construction workers and divers.

    Potential Optional Benefits

    Indexation: This can be a very useful option for Income Protection that ensures cover is kept in-line with inflation.
    Benefit Guarantee: In case your income reduces in the future your cover level can be fixed at a certain level from onset.

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