Compare self-employed income protection insurance quotes and help protect your monthly income if illness or injury stops you from working.
Provides regular payments that replace part of your income if you’re unable to work due to illness or an accident
Pays out until you can start working again – or until you retire, die or reach the end of the policy term – whichever is sooner
Typically pays out between 50% and 65% of your income if you’re unable to work
Can be claimed as many times as you need to while the policy lasts
Self-employed income protection insurance is a policy that can replace part of your income if you are medically unable to work. It is intended to support people such as sole traders, freelancers, contractors, consultants and company directors who rely on their own earnings to cover their day-to-day living costs.
If you’re self-employed, taking time off work due to illness or injury can have an immediate effect on your finances. Unlike employees, many self-employed workers do not receive statutory sick pay or company benefits, which means your income could stop when you stop working. That is why self-employed income protection insurance can be an important form of financial protection.
This type of cover is designed to pay a regular monthly benefit if you are unable to work because of accident, sickness or a medical condition. Instead of relying on savings or borrowing money to cover your bills, income protection can help you maintain financial stability while you recover.
Rather than paying a one-off lump sum, income protection usually pays a monthly benefit. This can be especially useful if you need help with ongoing expenses such as your mortgage, rent, council tax, utilities, groceries, childcare or loan repayments.
When you work for yourself, your income may depend entirely on your ability to carry out your job. If illness, stress, injury or surgery recovery prevents you from working, the financial consequences can build quickly. Even a few weeks off work can put pressure on your household budget.
Income protection helps provide peace of mind by creating a financial safety net. This can be valuable whether you are a tradesperson, driver, creative, consultant, therapist, personal trainer, beautician or any other type of self-employed professional.
Unlike life insurance, which pays out after death, income protection is there to support you while you’re still alive and unable to earn.
This can be especially valuable if:
You don’t receive statutory sick pay
You rely entirely on your monthly income
You have a mortgage, rent or family commitments
You would struggle to cover bills after a few weeks off work
Policies can vary, but many cover a wide range of illnesses and injuries that prevent you from working. This can include:
Back pain and musculoskeletal problems
Stress, anxiety and depression
Accidents and injuries
Surgery recovery
Cancer and serious illness
Long-term medical conditions
Cover depends on the insurer and the wording of the policy, so it is important to compare terms and conditions carefully before choosing a plan.
Most insurers will allow you to protect around 50% to 70% of your gross monthly income, depending on the provider and how your earnings are assessed. If you are self-employed, insurers may look at your recent accounts, tax returns or average earnings over time.
This is one reason why comparing quotes is important. Different insurers may assess self-employed earnings in different ways, which can affect the level of cover available and the monthly premium.
If you’re self-employed, insurers may ask for:
Recent tax returns
SA302's
Accountant prepared accounts
Dividends and salary records (limited company directors)
The cost of self-employed income protection insurance depends on a range of factors, including your age, health, smoking status, occupation, the amount of cover you want and how long you are willing to wait before the policy starts paying out.
Premiums can sometimes be lower if you choose a longer deferred period or a lower monthly benefit. The best way to find out what cover may cost is to compare self-employed income protection quotes from a range of providers.
The cost of self-employed income protection depends on several factors, including:
Your age
Your occupation
Your smoking status
Your medical history
The monthly benefit amount
How long you want payments to last for
The deferred period you choose
When comparing income protection policies, look beyond just the monthly price. Important features include:
How long you wait before payments begin
How long the insurer pays out for
The amount you could receive
Whether the policy covers you for your specific job
Whether your premium stays fixed
Check what is and isn’t covered, especially for pre-existing conditions or risky occupations.
If your income depends on you being able to physically or mentally do your work, income protection is worth comparing. Self-employed income protection can be worth considering if you are:
Sole traders
Freelancers
Contractors
Company directors
Tradesperson
Self-employed professionals like; Teachers, Hairdressers, Drivers, Personal Trainers, Consultants, Beauticians, etc
If your household depends on your income, protecting it could be one of the most sensible financial decisions you make.
Comparing quotes can help you find the right balance between affordability and protection. No two insurers assess risk in exactly the same way. One provider may offer more competitive rates for your occupation, while another may offer better terms or more flexible cover.
If you want to protect your income, household finances, and peace of mind, now is a great time to compare income protection insurance. Cover could be more affordable than you think, especially if you’re in good health and looking to secure protection early.
Use our simple quote form to compare self-employed income protection quotes and see what cover may be available to you. It only takes a short time to get started, and there’s no obligation to proceed.
Comparing self-employed income protection quotes can help you find the right balance between affordability and cover. Different insurers assess applicants in different ways, which means one provider may offer a much more competitive premium than another for the exact same person.
By comparing quotes, you can potentially save money while still finding a policy that suits your needs. This is especially important if you have a specialist occupation, are self-employed, have a pre-existing health condition, or want to tailor your deferred period and claim term carefully.
At Income Protection Cover UK, we help you compare income protection insurance options quickly and easily, so you can explore suitable cover without the hassle of approaching insurers one by one.
Our team of experts can help you save money on your Income Protection policy by comparing plans from multiple providers
Find out more about how income protection insurance works and whether it could be right for you
