Self-employed workers need life insurance
Wed, 12 Jan 2011
There was an increase in demand for life insurance during 2010, according to new research by the independent financial advisor website Unbiased.co.uk.

The survey revealed that there has been a 39 per cent rise in online search enquiries by consumers looking for protection products such as life insurance since the beginning of the year. Also, searches for group protection have risen by 86 per cent.

However Scottish Provident has found that despite the rise in demand for life insurance policies, a surprising 58 per cent of people still do not have any protection plan in place and among that number, the self-employed are poorly represented. Those who are self-employed sacrifice statutory sick pay and holiday pay when working for themselves and if they are working 24/7 and are a one-person company, it could lead to financial hardship for their family.

Should the worst happen, the impact on an income is immediate, even if it's only a minor illness or injury . However as life insurance policies are now available for just a few pence a day, not having one could prove to be a false economy, particularly for the self-employed.
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