Sole Trader Insurance

scouselad1974

Hi Everyone

Can anyone reccomend an insurance policy for a sole trader, that would cover my living costs, should I be unable to work due to sickness, injury or my business folding ? plus if possible a pay out should I pop my clogs

Thanks in advance

richbbaxter

You are probably looking at a few insurances to cover every eventuality. For replacement income due to long term illness you will require an earnings/income protection policy which will normally pay up to 50% of your annual income on a monthly basis and you will need a straight Life Assurance policy to cover death - this however can be combined with Critical/Serious illness cover for things like heart attack/stroke/cancer etc if you want to cover this. Bear in mind however that the older you are the premiums are likely to reflect this.

This is basic info but if you need any more help let me know.

scouselad1974

Thanks for your reply, I will have a look online over the weekend