There are 4.8 million self-employed people in the UK, accounting for 15% of the working population.
Many self-employed people enjoy the flexibility that comes with being their own boss. However, missing out on the security of employers’ benefits such as sick pay is one of the downsides.
Overcoming this downside can be achieved with income protection cover to support them during periods of illness.
Yet, less than 1 in 10 has income protection. Providing income protection solutions that meet the needs of self-employed people could help improve this statistic.
Income protection from The Exeter can offer reassurance to your self-employed clients and overcome the challenges they may associate with purchasing income protection:
Managing a fluctuating income
While there are many variables to being self-employed, the one constant is a fluctuating income.
Because clients can ‘fix’ up to 75% of their benefit, they can ensure that this proportion will be paid on successful claims regardless of their income at the time.
Covering unpaid gaps between contracts
If your client has a break between contracts, we treat them as being in work for the first three months. This means that if illness or injury occurs within this time which prevents them from working, we will not limit their benefit due to them being classed as temporarily out of work.
Immediate cover needed
To overcome the lack of employer sick pay, your clients can choose our Day 1 waiting period. This ensures that cover is available from the first day your client is unable to work due to illness.
Cover that’s affordable
It’s easy to tailor your clients’ cover and reduce the cost; choose from 2 year, 5 year and full term claim periods, as well as a wide range of waiting periods.
Your clients also have options to reduce or increase their cover once the policy has begun.
Income Protection for the self-employed
For more information on Income Protection from the Exeter and how we can support your self-employed clients, please email sales@the-exeter.com or call us on 0300 123 3207.
