Income Protection for the Self Employed
If you are self-employed you are more vulnerable financially should you become ill or pick up an injury which prevents you from working. The case for obtaining income protection insurance is greater if you have dependents who rely on your income to pay the bills. If you were not able to work how long would your savings last to cover your bills? In a 2009 Department of Works and Pensions survey it was calculated that the average working person would be able to last only 4 weeks without an income before getting into financial difficulty. Reasons why a income protection insurance plan could be invaluable includes cover to pay for:
- Mortgage payments
- Utility bills
- Council tax
- Monthly shopping costs
If you are self employed and you take out cover please check the policy wording before you commit so you understand the terms of the insurance you are signing up to.
For quotes for short term income protection see the table below:
If you rely on your own income to support you and your family, you may want to think about how you would pay for the costs of living expenses should something prevent you from working. You may not be generating any income if you are off work due to sickness or injury, and income insurance could cover the period of time you are absent.
Short term income protection insurance generally lasts for up to 12 months, but if you need extended cover you may want to look into a long term policy.
Long Term Income Protection
For longer term protection use our the service below for quotes and advice:
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