If we are self employed we only have our abilities, our savings and possibly the help of our friends and family to support us financially. That’s even if we are ill and can not work.
Many small business owners and those whom are self employed know the stress of going to work and not being 100% well. Yet we hall have bills to pay right?
Legal and General did market research stating most families have typically enough savings for possibly x1 month and really are living month to month or pay cheque to pay cheque. The impact of not being able to work could be huge.
As we know the climate in the UK is changing with our monthly costs spiralling upwards, Mortgages, Rent, Food utilities and fuel to name but a few.
If you could not work how would you be able to pay these bills and for how long?
Many families rely on a critical illness protection but actually this is only going to protect for things like a diagnosis of Heart Attack, Cancer or Stroke. (and it has to meet the severity of the terms and conditions!) SO this does NOT protect falling off a ladder, a car accident, or a condition not on the plan! Yet the family still has these bills to pay.
Income protection is a better tool for this – this is because it is any reason ill
Working with many self employed and small businesses owners we find cost effective solutions to protect and defend our home and make sure we have food on the table not matter the illness – we all have bills to pay don’t let illness stop you putting food on the table or just as bad loose your home! Income protection can be as little as the cost of a take away yet REALLY support a family in the event of illness.
Golden Rock Solutions has FREE independent confidential advice to help – get in touch for more details