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Self Employed: anyone taken income protection insurance?

I am a self employed (freelance) designer. I started in April 07 and just filed my first tax return. For the past nearly two years I have been doing very well but with the economic situation now I expect to have much less work in the future.

I am worried about having no work at all - is it worth taking out income protection insurance? Does it work if you are self employed? Anyone out there have this and is it worth it?

Your feedback is much appreciated!
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