For self-employed people, arranging your own protection is crucial as no one is going to provide it for you.
No one is going to provide you with sick pay, simply put, if you don’t work you don’t earn.
You also don’t have other employed benefits such as death in service or private medical insurance.
However, you can still have all of these things, you just have to arrange them yourself. The good news for those who operate as a limited company is you can set up these benefits, and in most cases offset the costs as a legitimate business expense. This means you can arrange various different forms of cover and it may work out cheaper due to tax relief.
If you’re self-employed and would like help looking at your protection options and the best way to set them up, contact us to speak to an adviser.