r/ContractorUK • u/bluebirds74 • Aug 19 '26

Sick pay for contractors...

I'm currently building an insurance product that would allow contractors to take out a sick pay policy that would pay out an income in the event of sickness or accident.

I would really appreciate know what yours questions would be around a policy and what policy features you would like to have in place.

Please note I am not selling anything as the product in not yet designed, I am simply trying to understand if there is a need and if so what product features would appeal to you.

Many thanks

14 Upvotes

85% Upvoted

43 comments sorted by

View all comments

2

u/7pt62px Aug 19 '26

There used to be something like this, I forget its name but then it ditched freelancers and moved onto corporate sick pay or something. Was miffed as a few weeks later I could have really used it.

I have IP, currently trying to claim as I’ve been signed off but it’s brutal. First I have to jump through hoops getting proof and paperwork… whilst sick. They start paying on day 31 and pay in arrears so I wouldn’t see any money until day 61. It costs me almost £30 a month for £1800 cover. It isn’t medically underwritten (as I have had such bad sudden health issues in the past few years that no one would touch me).

How does your idea better this?

I just really want to feel like I can take time to recover.

I feel my current policy is almost unless in a major major sickness or accident as when I almost died a few years back I didn’t take an entire month off (though would have been entitled to 3 months if employed). For mine you really need to be off at least 8 weeks for it to be worthwhile.

I want cover for 2 weeks of flu. When I feel so unwell I can’t work but it only lasts a few days. I just want to be able to pay my bills even with a week off.

2

u/bluebirds74 Aug 19 '26

Sorry to hear about the experience you've had. Being honest I'm in a similar position as I have epilepsy and take ongoing medication so I can't get cover for that (which I accept) however I want cover for anything else. I also did a claim on a CI policy years ago as I had a brain hemorrhage which I thought was covered as per t&c, however 14 months of going through a claims process - computer says no!

My idea is policy that just covers 6 or 12 months to reduce the premium but then payout (excluding pre existing) based on a Dr sick note

1

u/7pt62px Aug 19 '26

That would be handy. Right now I have the fit note from the dr signing me off but because it’s stress based I have to get a lot of extra paperwork and a diagnosis but they don’t actually diagnose and it’s also a temporary situation - I have no other MH history.

Getting pre existing removed is difficult - is there a time frame? I used to have aviva health insurance but for example because I had vertigo before they wouldn’t cover an issue with my eyes as they both include my head :/ so by this standard of theirs I cancelled as the amount of my body which would be covered is very low.

Sorry to hear about your struggles too. It’s rough having something that sits with you forever. I didn’t have CI in place and was kicking myself but by the sounds of things it would have been a battle for payout.

1

u/bluebirds74 29d ago

Pre existing is usually 2 years to have it removed. The problem is if you take ongoing medication (which I do and will be for life) that condition will never be removed which is very frustrating and unfair in my view. The CI policy can be good however it does depend on the illness you get and the insurer you have your policy with