Self Employed Income Protection Insurance
See the benefits of protecting your income when you’re unable to work and the tax efficiency it provides
The right insurance can help you overcome the financial impact of illness or injury, providing you with an income to keep you going while you recover.
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Get paid while you’re unable to work
When you’re self employed, the reality is that not working means not earning. Facing an illness or injury that stops you from working is daunting—unless you have Self Employed Income Protection Insurance.
Stay on top of your expenses, even if work isn’t possible.
Self Employed Income Protection Insurance provides a dependable income stream, usually covering 50-70% of your usual earnings, so you can focus on recovery rather than financial stress.
As an added advantage, if you operate a limited company, you can claim the cost of premiums as a business expense, making them tax-efficient.
We offer expert guidance to help you select the right Self Employed Income Protection policy tailored to your current needs and situation.
Please be aware: All information regarding the tax treatment of products and related benefits reflects our current understanding of tax law and HMRC guidelines. Tax regulations and relief rates may change.
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Do I need Self Employed Income Protection Insurance?
Is it worthwhile? We certainly think so. Unlike Critical Illness Insurance, Self Employed Income Protection Insurance provides ongoing financial support during your recovery, helping you get back on your feet faster. Beyond covering your bills, it can also contribute towards rehabilitation or treatment costs, ensuring you’re fully supported.
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Get your guide to Income Protection
Find out more about the importance of income protection and why it should be a key consideration for you.
Get the guidePrepare for the worst with Self Employed Income Protection Insurance.
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FAQs
What is Income Protection Insurance?
Income Protection is an insurance policy that pays you a regular wage if you’re unable to work due to illness or injury. It will continue to pay you a salary until you’re ready to return to work, retire or if you pass away (dependent on the level of benefit taken).
What do I do if I change my name?
You should notify your insurer’s customer services team or your broker so that your details remain up to date. For Broadbench clients, you can update this information on our client portal.
I've moved house, how do I update my address details for my Income Protection?
You should notify your insurer’s customer services team or your broker so that your details remain up to date. For Broadbench clients, you can update this information on our client portal.
What should I do if my bank details change for my Income Protection?
You should notify your insurer’s customer services team or your broker so that your policy doesn’t lapse. For Broadbench clients, you can update this information on our client portal. Your new Direct Debit will be active within 14 days.
Why do I need Income Protection Insurance?
People in permanent jobs have the benefit of receiving sick pay. Those earning a day don’t have this luxury which is why it’s so important to have Income Protection. It gives you the peace of mind that if you become ill, you’ll be paid a regular wage so you can look after the bills until you’re well enough to return to work.
Can I get Income Protection Insurance if I am self-employed?
Yes, although it’s structured to be paid for personally rather than via a Limited Company.
Who do I notify in the event that a policyholder passes away?
You should notify the claims department of your insurer, you will find this contact info on the policy documents or their website.
How can I set up Income Protection?
If you’re looking to set up your Income Protection, our advisers can help you find the right policy for you and your family. Get in touch and protect your income!