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Protecting the income of the self employed – 5 things you should read

Protecting the income of the self employed – 5 things you should read

To support your conversations with the self-employed clients, we have rounded up a list of articles covering some of the important considerations from a product point of view when discussing Income Protection.


Why wouldn’t you guarantee the income protection benefit amount for the self employed?

  • It doesn’t cost any extra…
  • It guarantees the amount of benefit paid regardless of income levels pre-incapacity…
  • If you have a client whose earnings fluctuate (a big issue for the self-employed), why wouldn’t you recommend it?

In this article, we take a look at how advisers can have their clients financially underwritten at the start of their income protection plan with The Exeter and Vitality Adviser to lock in the benefit amount.


Just starting up as self employed or had a period of low earnings?

Don’t worry, non-financially underwritten plans may be the answer

If you are just starting out as self employed, gone through a period of low earnings or even for whatever reason cannot guarantee a stable income, the benefit level you can get on income protection plans may not be sufficient or risk over insurance. There is an answer however, and as there are a number of insurers that offer non-financially assessed income protection plans. 


A minimal level of cover regardless of earnings prior claim

It is the feature that many advisers are perhaps most familiar with and it provides that extra safety net for clients if their income has gone down. But what are the Minimum Benefit Guarantee limits across income protection policies and what should you be aware of to ensure your client is fully covered?


Royal London’s best kept secret when protecting the income of the self employed

Royal London have announced a range of upgrades to their income protection, improving their limits across a range of features and potentially providing better client outcomes at point of claim. One of these changes brings to light a particularly impressive feature for the self-employed that very few people know about. In this article we take a look at what has changed and how this could impact your clients.


Why income protection is important for the self employed – Marc’s Story

Take a look at a real world example of just how income protection can support the self employed. The story of Marc’s claim with The Exeter not only highlights how income protection is a vital financial support but also how the additional vocational support insurers provide can help someone get back on their feet again.

About The Author

Adam Higgs

Adam leads Protection Guru's detailed protection research and benchmarking of both product and operation features provided by insurers and has a vast knowledge of the protection market. He has been instrumental in building the protection comparison service Quality Analyser and maintaining the data to enable adviser to quickly and easily compare protection products based on qualitative measures. He also works with adviser firms to help in panel reviews and with insurers to help them understand the shape of the market, their strengths and the areas that could be improved in their products. In his spare time and when not spending time with his wife and two children, Adam is a keen Arsenal fan and enjoys hacking his way around a golf course.

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