Let’s be honest—none of us like to think about worst-case scenarios. But as a contractor, freelancer, or small business owner, you are your business. If you suddenly couldn’t work due to illness, injury, or worse (we won’t get too morbid, but… you get the idea), what happens to your income? Your employees? Your clients?

Spoiler alert: “Just winging it” isn’t a great strategy. That’s where Business Protection policies step in to save the day!

But first, a Reality Check

We all feel invincible—until we’re not. Consider this:

• In the UK, 1 in 2 people will be diagnosed with cancer in their lifetime. (Cancer Research UK)
• Over 100,000 people in the UK suffer a stroke each year. (Stroke Association)
• Small businesses and self-employed professionals don’t have corporate safety nets—when you’re out of action, so is your income!

Business Protection Policies That Could Save Your Bacon (and Your Business)

Relevant Life Insurance – A tax-efficient life policy that pays out to your family if you pass away (not fun to think about, but very useful if needed). Bonus: The taxman gives this one a thumbs-up! 👍

Key Person Insurance – Covers financial losses if a vital team member (like you!) is out of action due to serious illness or death. Imagine trying to replace yourself overnight—yeah, not easy.

Executive Income Protection – Pays you a monthly income if you’re too ill or injured to work. Think of it as your business’s version of sick pay… because the bank doesn’t accept “I’m feeling under the weather” as a reason to pause mortgage payments.

Business Healthcare Insurance – Get private healthcare access so you’re back on your feet (and back to work) faster. No long NHS waiting lists here!

Shareholder Protection – Ensures your business stays in the right hands if a co-owner becomes critically ill or passes away. (Because no one wants a surprise business partner they didn’t plan for!)

Why Bother?

Because life happens, and business doesn’t stop. These policies mean:

✅ Financial security – No scrambling to keep the lights on.
✅ Business continuity – Things keep running, even if you can’t.
✅ Tax efficiencies – Many of these are tax-deductible (win-win!).
✅ Peace of mind – So you can focus on growing your business, not worrying about what-ifs.

Time to Make a Smart Move!

If you’ve made it this far without running away (kudos!), it’s time to take action. A quick chat with a Broadbench financial adviser can help you find the right protection for you and your business.

Because let’s be real—no one likes talking about life’s “what ifs”… but it’s a lot better than dealing with “what now?” when it’s too late!

🚀 Protect your business today—your future self will thank you! 🚀

#BusinessProtection #FreelancerLife #SmallBizSuccess #PlanForTheUnexpected

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