Self-Employed Income Protection Insurance

For self-employed individuals, Income Protection Insurance can provide essential financial security if illness or injury prevents you from working.

Unlike employees who may have sick pay, self-employed workers rely entirely on their ability to earn, making a loss of income much harder to manage.

With a policy in place, you’ll receive a regular payout, usually a percentage of your typical earnings.

This allows you to keep up with essential costs, such as mortgage payments and household bills, while you recover.

Having this safety net can reduce financial stress, giving you the space to focus on your health.

Cover will vary depending on the policy you choose, but most include:

• Illness or injury – Protection against medical conditions that prevent you from working.
• Rehabilitation support – Assistance to help you return to work when you are ready.
• Partial disability – Payments if you are only able to work in a reduced capacity.

Every policy is different, so it is important to check the terms carefully to understand what is included and whether any exclusions apply.

No, this type of insurance only provides financial support if you are unable to work due to illness or injury. It does not pay out for loss of income due to business downturns or redundancy.

No, this cover is designed to provide income if you cannot work because of illness or injury. If you are looking for a policy that pays out in the event of death, Life Insurance would be more suitable.

Policies typically cover a wide range of illnesses, including:

• Cancer, including treatment and recovery periods
• Heart conditions, such as heart attacks and surgery recovery
• Mental health conditions, including depression and anxiety
• Neurological disorders, such as multiple sclerosis and epilepsy
• Respiratory conditions, including COPD and severe pneumonia
• Musculoskeletal disorders, such as spinal issues and chronic pain
• Stroke and its recovery period
• Chronic illnesses, including diabetes and arthritis
• Gastrointestinal disorders, such as Crohn’s disease and severe ulcers
• Infectious diseases, including severe flu and COVID-19 complications
• Autoimmune diseases, such as lupus and rheumatoid arthritis
• Kidney and liver disease, including recovery from surgery

The exact list of covered conditions will depend on your policy, so it is worth reviewing the details before taking out cover.

Common injuries covered include:

• Fractures and recovery from broken bones
• Severe sprains, strains, and tendon injuries
• Back and spinal injuries, including slipped discs
• Head injuries, such as concussions
• Burns requiring medical treatment and recovery
• Joint injuries, including dislocations and knee damage
• Repetitive strain injuries, such as carpal tunnel syndrome
• Severe lacerations and deep cuts
• Whiplash and other neck-related injuries
• Eye and hearing injuries affecting vision or hearing
• Internal injuries from accidents or trauma
• Occupational injuries sustained while working
• Injuries requiring surgery and post-surgical recovery

Since every policy differs, it is important to check the full list of covered injuries with your provider.

If you are considering taking out cover, the first step is to assess how much income you would need to maintain your lifestyle if you were unable to work.

Speaking to a mortgage and protection advisor can help you understand your options. They can guide you through available policies, ensuring you find one that suits your circumstances.

Once you have chosen a policy, you will need to go through the application process. This may involve providing details about your health, lifestyle, and occupation. Once approved, it is worth reviewing the policy regularly to ensure it continues to meet your needs.

If you would like to explore your options, our mortgage and protection advisors are available to help. You can book a free appointment to discuss what cover might work best for you.