Sick Pay For the Self Employed: Income Protection Insurance

Each year 1 million people in the UK find themselves unable to work due to serious illness or injury (money advice service 2017), and for those that are self employed there is no option of employer sick pay available. Income Protection Insurance is designed to pay a monthly income until you are well enough to return to work.

The level of self employed workers has been rising steadily in the UK from 3.8 million in 2008 to 4.6 million in 2015 (office of National Statistics) meaning there is a rising shortfall in self employed sickpay!

Contact us to find out more about Income Protection Insurance and to get an independent quote

How would you cope financially?

Income Protection Insurance

Our income is often the centre of our life, whether we like to admit it or not. Without money how would we eat? Who would pay for our heating and electric bills? What about our mobile phones and broadband? What about business running costs?

What would you do if your income stopped? If you were sick or had an accident, meaning you weren’t able to work, how long could you survive financially?

What Is Income Protection Insurance?

Income protection insurance is a long-term insurance policy designed to help you if you can’t work because of illness, accident, or injury.

It ensures you continue to receive a regular income until you retire or are able to return to work.

  • It replaces part of your income – if you can’t work because you become ill or disabled.
  • It pays out until you can start working again – or until you retire, die or the end of the policy term – whichever is sooner.
  • There’s often a waiting period before the payments start – The longer you wait, the lower the monthly premiums.
  • It covers most illnesses that leave you unable to work – either in the short or long term (depending on the type of policy and its definition of incapacity).
  • You can claim as many times as you need to – while the policy lasts.

Contact us to find out more about Income Protection Insurance and to get an independent quote