Self-Employed Life Insurance

> Self-employed life insurance. Do not overpay for life insurance just because you are self-employed: compare the whole market and save up to 40%

Life insurance can be a bit tricker to get if you're self-employed but there are plans out there and they are still affordable.

Life insurance for the self-employed

4.7 million people in the UK are self-employed, and a lot more are actively looking to become self-employed in the next 12 months.

One luxury of being an employee is the company often takes care of life insurance cover, but if you’re self-employed you need to do it yourself. The good news is that it isn’t too difficult or complicated, but as most people do not change their policy once they take it out, it is worth taking the time now to choose the most appropriate cover.

Importance of life insurance for the self-employed

Being self-employed significantly increases the importance of life insurance as you don’t have any other person or corporation to rely on if you were to die unexpectedly. The insurance policy can either pay the entire sum to your family in one installment or in the form of monthly installments. You can decide on this as most policies are flexible, and it will depend on the monetary requirements of your family. If you have kids, getting monthly installments is usually a better option. Death is never nice to think about, however a proper life insurance plan improves the condition to a certain extent, especially as this is precisely when your family and loved ones would need you most.

Many life insurance plans are available to those who are self-employed, and its not as large a hurdle as say getting a mortgage. It is very important however, for you to know about each and every point mentioned in the plan. If you have medical issues, they should be mentioned to the advisor.

How to get cheaper life insurance if you're self-employed

Lifedeal works with life insurance experts who specialise in cover for self-employed people and if you complete our form we will get to work to find you the best life insurance deal.

Guest article: Written by Jen Fawcett.