Self-employed advisers, tradespeople, and consultants often assume savings will cover a long absence. Six months of household bills can empty an emergency fund faster than expected, especially when rent or a mortgage continues unchanged.
Income protection pays a monthly benefit if you cannot work due to illness or injury, after a chosen deferred period. Policies vary on occupation class, definition of incapacity, and whether cover lasts to a set age or for a limited claim term.
We compare deferred periods against your cash reserve. A longer wait lowers premiums but assumes you can fund the first months yourself. Shorter waits cost more and suit those with thin buffers or high fixed costs.
Underwriting looks at medical history and income evidence. Sole traders typically provide tax returns; limited company directors may need salary and dividend records. Honesty on the application matters — undisclosed conditions can void a claim later.
If you work for yourself in England and have no employer sick pay, a protection review is a sensible companion to pension and investment advice. Bring three years of income figures and we will size cover against essential spending, not aspirational lifestyle costs.