Self-Employed
Income Protection Self-Employed UK: Is It Worth It?
Income protection pays you a monthly income if illness or injury stops you working. The self-employed get no Statutory Sick Pay, so the income stops the day you do. Premiums on a personal policy are not tax-deductible, but the benefit is paid tax-free.
1
Deferred period - The wait between stopping work and the first payout (commonly 4, 8, 13, 26 or 52...
2
Monthly benefit - What the policy pays each month while you cannot work. Usually capped around...
3
Benefit period - How long payouts last per claim: a short-term policy stops after 1, 2 or 5 years;...
4
Own-occupation - It pays out if you cannot do your own job. The strongest definition for a skilled...
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Plus 6 more in the full guide
Freedom Isn’t Free Scan to read
freedomisntfree.co.uk/guides/income-protection-self-employed-uk