Can I get income protection insurance if I'm self-employed?

Absolutely yes! Income protection is important for everyone, especially those who are contractors, freelancers, self-employed or business owners.

You do need to consider income protection if you are self employed because what would happen if you broke a limb, got sick, or your mental health took a turn (dependent on condition)? What if a poor health situation lasted for weeks, or months, or longer?

In many cases, being self-employed means you rely, mostly or entirely, on yourself. If that's your situation, you need to think seriously about self-employed income protection, to cover any scenarios where you're unable to show up.

What is income protection insurance?

Income protection replaces some of your monthly income if you are unable to work due to illness or injury. It pays you a tax-free monthly income until you return to work, you retire, or your policy expires.

Whether you're employed, or self-employed, this type of cover is designed to support you and your family by covering your regular outgoings, to help maintain your lifestyle, should something unexpected happen. You can choose the correct  level  of cover for you, but typically it’s up to 60% of your gross monthly income.

Do You Really Need Income Protection Insurance?

For most people, the answer is yes — it’s one of the most useful types of personal protection you can have.

It’s designed for anyone who relies on their salary to pay everyday living costs — which is almost all of us.

Your income funds your entire lifestyle:

• Rent or mortgage payments

• Utility bills

• Food and transport

• Childcare and family expenses

• Subscriptions and day-to-day spending

If illness or injury stops you working for weeks, months, or even longer, those costs don’t disappear. Statutory Sick Pay is limited and many employers only offer short-term sick pay. Without a backup plan, savings can quickly run out.

Income protection insurance replaces a portion of your salary while you recover, helping you stay financially stable when you can’t earn.

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Life Insurance is Essential for Protecting Your Family’s Future

No one likes to think about the worst-case scenario, but life is unpredictable. If something were to happen to you, would your family be financially secure? Life insurance ensures that your loved ones are taken care of, even when you're no longer there to provide for them.

What Happens to Your Family Without Life Insurance?

If you were to pass away unexpectedly, your family could be left facing:
❌ Mortgage or rent payments they can’t afford
❌ Daily living costs with no financial support
❌ Outstanding debts that don’t disappear
❌ Funeral costs that can add stress during an already difficult time

For many families, the loss of a loved one’s income or contributions can be devastating. Life insurance provides a financial safety net, ensuring that your family doesn’t have to struggle.

Who Needs Life Insurance?

✅ Parents with young children – To cover childcare, education, and daily living expenses
✅ Homeowners – To ensure the mortgage is paid off and your family keeps their home
✅ Single-income families – If one partner is the main earner, their loss could be financially crippling
✅ Business owners – To protect your company and ensure financial security for your family

Who Should Consider Income Protection?

Income protection is suitable for more people than you might think:

• Employees with limited sick pay

• Self-employed or freelancers

• Homeowners and renters

• Families with regular household expenses

• Anyone without large savings

In simple terms, if losing your income would cause financial stress, income protection is worth considering.

Why It’s Important to Speak to a Broker for the Right Protection Cover

Life is full of uncertainties, and ensuring that you and your loved ones are financially protected is one of the most important decisions you can make. But with so many insurance options available, finding the right cover can be overwhelming. That’s where speaking to a professional insurance broker makes all the difference. Here’s why working with a broker is essential to securing the right protection for your future.

How Life Insurance Supports Your Loved Ones

A life insurance payout can help your family:
✔️ Pay off the mortgage – Keeping a roof over their heads
✔️ Cover everyday expenses – Food, bills, childcare, and education
✔️ Settle outstanding debts – Avoiding financial burdens
✔️ Fund future goals – Such as university fees for your children
✔️ Cover funeral costs – Relieving stress during a difficult time

It’s More Affordable Than You Think

Many people assume life insurance is expensive, but policies can start from just a few pounds a month—far less than a daily coffee! The earlier you take out a policy, the cheaper it tends to be.

Who Should Consider Income Protection?

Income protection is suitable for more people than you might think:

• Employees with limited sick pay

• Self-employed or freelancers

• Homeowners and renters

• Families with regular household expenses

• Anyone without large savings

In simple terms, if losing your income would cause financial stress, income protection is worth considering.

The Bottom Line

Most people insure their home, car, and phone — but their income is their biggest financial asset.
Income protection insurance helps safeguard the money that pays for everything else.

If your lifestyle depends on your monthly earnings, protecting your income isn’t just sensible — it’s essential.