Self Employed Insurances

Jules16

Hi there,

I am getting really confused and hope someone can help me out.....

My husband is self employed but due to it being a relatively new business, we cannot prove how much income he takes home every month. We have a young family and large outgoings every month including our mortgage and loan. I am keen to ensure we are covered for all eventualities. We currently pay a life insurance policy for the mortgage and loan and an income protection policy (for Stephen) which only covers the mortgage but I am keen to ensure we are covered for as much as possible including bills etc. Having done a bit of research, I'm now slightly concerned that the income protection insurance is worthless as it says it will pay out up to 70% of his earnings but if we can't prove them, how will that work?

What's the best solution in these circumstances to protect us as much as possible without wasting money??

I would really appreciate someone's guidance on this.

Many thanks

PS I am employed full time. The life insurance policy is joint but I have separate Accident and Sickness cover for the mortgage as I do not require unemployment cover.