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  • FIRST POST
    • ol1v33r
    • By ol1v33r 15th May 19, 9:53 PM
    • 38Posts
    • 11Thanks
    ol1v33r
    Self employed insurance if i'm not able to work?
    • #1
    • 15th May 19, 9:53 PM
    Self employed insurance if i'm not able to work? 15th May 19 at 9:53 PM
    I'm self employed and self-reliant.


    How do I protect my future financial independence if I get sick, injured, or permanantly disabled and am no longer able to work?



    Is there some kind of insurance I can do?


    Or is something like saving and self insuring a better option?


    A broker suggested a couple of policies but I have no way to assess the merits of them.


    I think it's called Permanent health insurance which is a type of payment protection or a cash payout for specific injuries/illnesses and/or time spent in hospital.


    Any point in the right direction appreciated.
Page 1
    • dunstonh
    • By dunstonh 15th May 19, 10:52 PM
    • 98,260 Posts
    • 66,481 Thanks
    dunstonh
    • #2
    • 15th May 19, 10:52 PM
    • #2
    • 15th May 19, 10:52 PM
    Permanent Health Insurance (PHI) is the best form of income protection.

    A broker suggested a couple of policies but I have no way to assess the merits of them.
    An IFA or whole of market protection adviser is required to give best advice. Brokers may just be retailing if you are buying on a non-advised service.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • ol1v33r
    • By ol1v33r 16th May 19, 9:00 PM
    • 38 Posts
    • 11 Thanks
    ol1v33r
    • #3
    • 16th May 19, 9:00 PM
    • #3
    • 16th May 19, 9:00 PM
    How can i tell if a broker is a "IFA or whole of market protection adviser" or not?


    I'm looking at owlfinancial.co.uk
    • dunstonh
    • By dunstonh 16th May 19, 9:13 PM
    • 98,260 Posts
    • 66,481 Thanks
    dunstonh
    • #4
    • 16th May 19, 9:13 PM
    • #4
    • 16th May 19, 9:13 PM
    How can i tell if a broker is a "IFA or whole of market protection adviser" or not?
    An IFA will tell you they are an IFA. Their documentation will have IFA on it. And their initial disclosure forms (a mandatory issue at the start) will state whether they are restricted (FA) or independent (IFA).

    Whole of market protection advisers are not IFAs but would be similar except they focus on the protection rather than all areas.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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