{"id":1016,"date":"2022-06-21T10:34:10","date_gmt":"2022-06-21T09:34:10","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=1016"},"modified":"2022-06-21T10:36:05","modified_gmt":"2022-06-21T09:36:05","slug":"self-employment-and-income-protection-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2022\/06\/21\/self-employment-and-income-protection-what-you-need-to-know\/","title":{"rendered":"Self-employment and income protection \u2013 what you need to know"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>According to\nanalysis of Office for National Statistics (ONS) data<sup>1<\/sup>, a third of\nworking-age adults now suffer from a long-term illness. The number of adults\nreporting a long-term condition rose by 1.2 million during the two years of the\npandemic.<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Long-term ill\nhealth can make it very difficult for people to work, with a knock-on impact on\ntheir finances. This is particularly true of self-employed people; unable to\nclaim sick pay from an employer or the state, their inability to work could\nhave significant financial repercussions.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Increase your\nfinancial resilience<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Purchasing an\nincome protection policy could be a cost-effective way of protecting yourself\nagainst financial shocks. This type of protection policy is designed to pay out\na proportion of your income, tax-free, to help you cover essential costs such\nas bills, your rent or mortgage, and other living costs. Some insurance\nproviders also include additional benefits in their policies, such as access to\nspecialist clinicians and rehabilitation experts, to help speed up your recovery.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Ask yourself\nthis\u2026<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>If you\u2019re\nunsure about whether or not you need income protection insurance, ask yourself\nthis:<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>\u2013 Could I\nafford to continue paying my essential outgoings if my income stopped?<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>\u2013 Do I have\nsavings to help me out if I was unable to work? If so, how long would these\nlast?<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>\u2013 Could I keep\nmy business afloat if I was too ill to work?<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>\u2013&nbsp; Could I still look after my loved ones and\ndependants if I wasn\u2019t working?<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>If the answers\nto any of these questions is \u2018no\u2019 you\u2019d likely benefit from income protection.\nWe can help you assess the options available and give you valuable peace of\nmind.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Observer,\n2022<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong><em>It is important to take professional advice before making any\ndecision relating to your personal finances. Information within this article is\nbased on our current understanding and can be subject to change without notice\nand the accuracy and completeness of the information cannot be guaranteed. It\ndoes not provide individual tailored investment advice and is for guidance\nonly. Some rules may vary in different parts of the UK.<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>According to analysis of Office for National Statistics (ONS) data1, a third of working-age adults now suffer from a long-term illness. The number of adults reporting a long-term condition rose by 1.2 million during the two years of the pandemic. Long-term ill health can make it very difficult for people to work, with a knock-on [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":1017,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,77],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1016"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=1016"}],"version-history":[{"count":3,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1016\/revisions"}],"predecessor-version":[{"id":1020,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1016\/revisions\/1020"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/1017"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=1016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=1016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=1016"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=1016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}