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6 Reasons the Self Employed Should Have Income Protection

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What Is Income Protection?

Income Protection is a valuable protection product that will pay out a proportion of your typical income per month if you are unable to work due to an illness or injury.

However, when it comes to the UK’s self-employed, uptake of this insurance product is unsettlingly low, with 1 in 5 self-employed workers believing they weren’t eligible for an Income Protection policy.

This is a big misconception that stops a lot of people that need a policy from purchasing it.

The reality is that most insurers not only accept applications from self-employed workers, but some even have special policies with terms specifically designed for self-employed professionals and contractors.

Self-Employed Income Protection can cover up to 65% of your original earnings if poor health prevents you from working.

With a long-term policy you can claim for as long as you need to up until the pre-determined cease age of the policy, usually your retirement.

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    Getting Self-Employed Income Protection Advice

    Many self-employed professionals across the UK would benefit from Income Protection Insurance to provide for them and their family if they aren’t earning.

    However, when it comes to purchasing a policy, self-employed professionals will need to take extra care to review their terms and conditions to ensure their policy is relevant to their needs.

    For contractors who work through their own limited company, Executive Income Protection can be purchased by your company as a tax efficient alternative to a standard personal policy.

    Meanwhile, there are a range of personal Income Protection policies for the self-employed that don’t require a limited company setup.

    Why Speak to Us…

    We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances. Below are just a few reasons why it makes sense to let us help.

    • There is no fee for our service
    • We are independent and impartial
      Drewberry isn’t tied to any insurance company, so we can provide completely impartial advice to make sure you get the most appropriate policy based solely on your needs.
    • We’ve got bargaining power on our side
      This allows us to negotiate better premiums for you than you going direct yourself.
    • You’ll speak to a dedicated expert from start to finish
      You will speak to a named expert with a direct telephone and email. No more automated machines and no more being sent from pillar to post – you’ll have someone to speak to who knows you.
    • Benefit from our 5-star service
      We pride ourselves on providing a 5-star service, as can be seen from our 2428 and growing independent client reviews rating us at 4.92 / 5.
    • Gain the protection of regulated advice
      You are protected. Where we provide a regulated advice service we are responsible for the policy we set-up for you. Doing it yourself or going direct to an insurer won’t provide this protection, so you won’t benefit from these securities.
    • Claims support when you need it the most
      You have support should you need to make a claim. The most important thing when it comes to insurance is that claims are paid and quickly. We are here to support you during the claims process and make sure it’s as smooth and stress free as possible.
    rob harvey, head of protection advice at drewberry

    It can be a bit of a minefield if you’re self-employed and wanting to set up adequate Income Protection.

    If you need any help please don’t hesitate to pop us a call on 02084327333 or email help@drewberry.co.uk.

    Robert Harvey
    Head of Protection Advice at Drewberry

    This firm is the best in the market!! The staff are experienced and they know exactly how to help with such major decisions. Thank you especially to Rauri: a 5 star service throughout. I will recommend and use Drewberry again.

    Alberta Opoku
    06/10/2019
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    • 4We are ProfessionalProviding a 5-star service requires a professional approach to everything we do.
    • 5We are here to EducateWe don't believe in sales, we are here to educate so you can make informed decisions.