Targets, calls and the next placement
Recruitment is target-driven. Your day involves calls, sourcing candidates, managing clients and pushing offers over the line before a counter-offer lands. A good month can be very good, and a slow one can be tough. That swing creates pressure, and many recruiters work long hours to hit billing targets.
Mental health problems and musculoskeletal pain from desk and headset work are the main reasons recruiters need long periods off. Income protection pays a monthly benefit after your deferred period if illness or injury stops you working.
Commission and what sick pay misses
A recruiter's basic salary can be a fraction of their total earnings. Employer sick pay usually covers the basic salary, or just statutory sick pay. Commission stops when you are not billing, and placements in progress may be handed to a colleague.
Insurers tend to count commission when setting your benefit, often averaged over the last few years. Bring payslips and P60s to show the pattern. If your earnings have grown fast, a broker can find an insurer that gives more weight to recent figures.
- Check what your sick pay is based on
- Gather evidence of commission over several years
- Insure your essential outgoings at a minimum
Running your own recruitment business
Plenty of recruiters set up on their own after a few years, often as a limited company drawing salary and dividends. The company can pay for executive income protection and relevant life cover for you as a director.
If the business depends on your client relationships, key person cover can pay the company a sum to replace lost billings while you recover. With a business partner, shareholder protection is worth a look too.
Risk class and the definition used at claim
Insurers group occupations by risk, and recruiters usually sit in lower-risk groups. Own occupation cover is often available, so a claim is judged on your ability to do your recruitment job rather than any office work.
If you have a past episode of stress or anxiety, insurers will ask about it. Some will offer standard terms, others an exclusion. Comparing several makes a difference.
Life insurance for recruiters and our part
Life cover can protect your mortgage and family. Death in service, if your employer offers it, is usually a multiple of basic salary, which may be small compared to your real income.
We help recruiters work out a realistic benefit, compare policies from the insurers on our panel and gather the right earnings evidence for the application.