The right personal protection policy can offer a financial safety net to any individual and their family should the worst happen and a critical illness stops them from working. This forward planning and protection is especially important for those who are self-employed and who may need to be extremely vigilant when it comes to their financial situation.
Personal protection insurance acts as a buffer for the self-employed
According to figures from the Office for National Statistics released in May 2017, 4.78 million people in the UK classed themselves as self-employed between January 2017 and March 2017, an increase of 82,000 compared to just one year earlier. As a result, 15% of all people in work during March 2017 were classified as self-employed.
The Money Advice Service explains why having some form of personal protection insurance is essential for those who class themselves as self-employed. There are no employers to rely on for sickness cover, and no company-wide health insurance policies to be part of to cover the worst-case scenarios.
Protecting yourself, here and now
Just consider the self-employed spectrum too. People have different wants and needs from their insurance when self-employed. Some may need cover for themselves as a contracted labourer working in tough environments, while others may work from behind a desk all day at home. Finding a bespoke policy to protect their individual needs can be tough at times.
However, working alongside a specialist broker can help the self-employed to discover affordable and bespoke personal protection insurance policies that best suit their needs and budget in the workplace. No matter what their background or industry may be, an experienced and professional broker can also help them find the right cover for them.
Protect yourself as a self-employed worker with the right protection policy for your needs. Contact Oportfolio’s team of expert consultants today to find out more.
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