Does anyone use income protection insurance?
Looking at getting some income protection insurance as I'm self-employed and wondered if anyone had any advice about it. Is it worth it?
Replies7
- Great question @Jenny Harrington, I've just sent you a DM!
- @Esther Shelley Thanks for the recommendation!
- I second the suggestion to speak to a financial advisor. I use Alex Financial Services, run by Kate who specialises in working with self employed people. She’s great at explaining what’s important and why, which is what I really needed to wrap my head around all of it!
- @Jenny Harrington That's a good idea! Moneybox are pretty good for interest rates with their savings accounts.I would recommend the health insurance though. At least if you are unwell, you can get back on your feet quicker. :-)
- @Abigail Baldwin Thanks Abigail, never thought of health insurance as an option.I think im going to start paying into a savings account now specifially for if im unable to work, after researching it the waiting period put me off. That way at least im in control of the money and when I can access it.
- I weighed up whether to get income protection OR health insurance. In the end, I decided to get health insurance due to the increased benefits I'd receive.For example, I have a regular prescription that I have to pay for. My health insurance reimburses me. Or, if I ended up in the hospital, I would get paid (or I could decide to go private).If you don't already, I recommend chatting with an independent financial advisor! They are not as expensive as you might think and can make sure you find the right support, especially when it comes to pensions and insurance.
- I don't have an insurance myself but I hear freelancers mentioning the below. Wheather if it's worth it or not, it's hard to tell. Touch wood, I've never needed insuerance so far but doesn't mean I won't fall ill or have an accident tomorrow 🤔https://withjack.co.uk/https://www.hiscox.co.uk/
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