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Experly compared by David Allan

Products Updated June 5, 2018

Income Protection For Freelancers

Income Protection for freelance workers is a plan that is designed to provide you and your salary with protection should you be unable to work through sickness, ill health or injury. Our experts can arrange a policy that will pay a benefit amount on a regular basis that is tax free.

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All credit types
Rated 4.8/ 5

Lifes Great Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Provider
Lifes Great

Products
Income & Life Protection

speciality
Income Protection

Lifes Great is an online financial advisor that can quickly find you the best income protection quote from a wide range of provides in the market place. Simply get a quote for a personal illustration.

Available via broker only
All credit types
Rated 4.7/ 5

Aviva

Provider
Aviva Income Protection

Products
Income & Life Protection

speciality
Income Protection

When unexpected things happens, we know that what matters is having peace of mind from a policy you can trust. Aviva's Income Protection cover is very straightforward, simple to arrange and is individual to you and your families needs.

About Income Protection For Freelancers

If you are a freelancer then you are in control of your earnings and this carries a risk. You do not have the comfort of sick pay or an employer to rely on, however, if you are unable to work, it’s not just your earnings at risk, it’s your reputation and your business that can also suffer.

Income protection that covers freelance workers

Income protection that covers freelance workers

Income Protection for freelance workers is a plan that is designed to provide you and your salary with protection should you be unable to work through sickness, ill health or injury. The policy will pay a benefit amount on a regular basis that is tax free. The policy works by replacing a percentage of your income. The cover will continue to pay until you are well enough to return to work, you retire or if you pass away.

How Does It Work?

If you are a freelancer and you have arranged to to put this policy in place while unable to work due to sickness, ill health or injury you will be completely covered. The policy will act as a financial safety net by replacing a percentage of your income. While you are unable to work a claim can be submitted and once the agreed waiting period known as the deferred period has come to an end a payment will be made. The longer the agreed deferred period, the lower your premiums will become. The benefit amount will then released to you on a regular basis and this is tax free. The benefit amount will be paid to the policy holder and it will continue until you can return to work, you retire or you pass away. It is important to understand that the policy allows you to make as many claims as you require.

The Features

There is an extensive list of features with Income Protection Freelancers, and these include:

  • Income and salary are protected
  • The policy will ensure that you have that financial support and protection which will allow you to make ongoing payments
  • The tax free sum will be paid to the policy holder during the period of absence from work
  • You will be covered if you are unable to work due to sickness, ill health or injury
  • There are other policies available to you, and these include- Re-viewable policies, Age related policies and Guaranteed policies

What Are The Benefits?

There are many benefits that come with this policy:

  • Claims can be submitted as many times as you wish providing the claims are valid
  • There are a variety of policies available and these guarantee that there is the right cover for you
  • A percentage of your income will be replaced giving you peace of mind
  • The benefit amount is paid following a valid claim and is completely tax free
  • As you will be out of work you can rest assures knowing that your bills can be paid
  • The policy guarantees to cover you for the duration you require so long as all premiums are paid

 

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