Critical Illness Insurance Helps You Recover

When allowing a contractor to work in your home, install an air conditioner, or run new power lines, you are taking a huge leap of faith that the company will behave ethically and do their work up to code. While most reputable companies carry liability, there is simply no way to guarantee that their coverage will provide you with the compensation you need when their mistakes cost you thousands of dollars in damages. To mitigate this risk, surety insurance has become a preferred means of protecting your investment. This type of protection, often called surety bonds, offers a unique method of controlling the way funds are distributed in the event of a disaster. Rather than spreading settlement payout across a myriad of clients, surety insurance is a three-way agreement between a customer, a contractor, and their bondsman. With stricter guidelines and a clear understanding of responsibility, these bonds allow payment to be treated like a bank loan rather than a sudden cash windfall. By cutting out the major corporations, homeowners are able to hold contractors accountable and seek damages as soon as they know shoddy work has been performed rather than after catastrophe has struck.(adsbygoogle = window.adsbygoogle || []).push({});

What type of IT services do you provide? Are you a website developer, an IT&T project manager, software developer, or a provide IT&T support services? Or perhaps you are IT&T Consultant or Contractor? No matter what your profession is, if you provide professional services and advice to your clients (for a fee) than there is an expectation on you to deliver accurate advice. However, in business, there are times when mistakes and accidents do occur. Unfortunately, even the most careful of individuals may do something that upsets a client due to an error or negligence, and that client threatens to sue when that mistake causes them a financial loss.

George's story

George is an IT software developer and he has been doing business for a couple of years. He is a sole trader with no employees. He has never had an incident in which a client had become overly upset with him. As a matter of fact, he has a very high rate of satisfaction among his clients.

He recently won a new contract, which he'd been pitching for for close to a year, for a high profile client. The work involved a substantial upgrade to ERP system incorporating new product lines. He was thrilled. Even though it meant that his workload would dramatically increase and that he had to work longer than usual hours, it was only for the short-term and the hours would be well worth the rewards at the end, due to the prestige of having this client as part of his portfolio and the potential work that could be developed.(adsbygoogle = window.adsbygoogle || []).push({});

With enhancements in medicine and treatment, although more people are surviving critical illnesses today, it is not the same story when it comes to their personal finances. Surviving a critical illness (ie. cancer or hear attack) takes time away from you work and ability to earn an income. A well structured critical illness insurance plan can provide you with the resources your require in the event you become sick.