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Analysis: Self-employed gain most from IP cover


When I was chatting to a friend about insurance, she told me her husband had just taken out some income protection. He is self-employed and she had to work hard to persuade him, which surprised me as I think self-employed people can benefit most from this type of protection.

If something happened that left her husband unable to work, IP could be a saving grace in the absence of the wages he would miss out on and the lack of sick pay.

Self-employed people are especially at risk of being left with no income if they fall ill or get injured, and if they are the main breadwinner it can cause a lot of financial uncertainty and hardship. 

The self-employed work hard to build up their business so it is vital that more of them understand and have the opportunity to protect themselves and their livelihood. With no employer to provide the communication and benefits, the self-employed community needs us to continue to promote the value of IP.

I hope the Seven Families campaign by the Income Protection Task Force will help remind people about the importance of protecting their income.


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  • Damian Youell 9th December 2014 at 6:46 pm

    I agree that self employed are the most needy when it comes to income protection. I also find that most company directors can pay for the cover in a tax efficient manner through executive income protection policies. However most company directors do not even know these plans exist.


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