Being self-employed offers numerous benefits such as having flexibility and being your own boss. However, these advantages come with challenges, particularly when it comes to financial planning and securing your future.
One crucial aspect often overlooked by many self-employed individuals is life insurance. Understanding and investing in life insurance for self-employed can provide peace of mind, ensuring that your loved ones are financially supported in the event of your passing.
At Sports Financial Services, we specialise in helping you find appropriate financial protection for you and your business. We offer life insurance for self-employed and a range of other financial protection options. Whether you’re a business owner, a company Director, or a key person in a company, our specialist advisers will help provide you and your loved ones with peace of mind in the face of life’s uncertainties.
In addition, your personal adviser will also advise on how you could make tax-efficient premium payments via your company.
What is life insurance for self-employed?
Life insurance and self employed accident insurance, is a financial product that pays a death benefit to a designated beneficiary upon your passing. This benefit helps as a safety net, providing your family with a lump sum of money to help with expenses, debts or to support children in your absence.
Do I need life insurance if I’m self-employed?
Being your own boss has its advantages, but unless you obtain life insurance for self-employed, your loved ones may not be financially secure in the event of your passing.
If you are self-employed and have a dependent or a family that depends on you for financial support, life insurance can provide additional security and peace of mind.
Choosing the right life insurance policy
Depending on your circumstances there may be several types of life insurance policies available to suit your needs. Our specialist life insurance advisers will be happy to talk you through the options available based on many factors such as your occupation, lifestyle, cover amount and duration of cover.
Other types of business protection
As experts in financial protection, you can also talk to us about cover for a range of other business protection products, such as:
- Relevant Life Cover: Payment of a lump sum to beneficiaries in the event of an employee’s death during the policy period. Speak to us about “death in service” type benefits for employees.
- Key Person Insurance: We will be happy to discuss cover that provides a business backup plan in the event of the death, critical illness or disability of a key employee, such as a CEO, founder, or top salesperson.
- Share Protection: Provides funds to surviving business owners for purchasing the shares to assist them in maintaining control of the company in case of death or serious illness diagnosis of a Partner or Director.
- Loan Protection: Talk to us about insurance that offers a payment to assist in settling business loans in the event of the death or diagnosis of a critical illness of a key individual within the business.
How to choose the right life insurance for self-employed
Considering life insurance for self-employed and selecting what is most suitable for you requires thoughtful consideration. It may also be important to take into consideration scenarios that could also financially impact your business, for example, ill health or death of a key employee or Director.
Specialist advisers at Sports Financial Services are available to discuss your needs and assist you in navigating through the options that best meet your business requirements.
Why choose Sports Financial Services for your life insurance for self-employed needs?
At Sports Financial Services, we understand that every individual and organisation has unique financial protection needs. Whether you would like to discuss life insurance for self-employed or other types of business protection our team of experienced advisors will work closely with you to understand your requirements and discuss solutions that fit your budget and company’s needs.
Here’s what sets us apart:
Expertise: With decades of experience, we have the knowledge and expertise to navigate the complexities of life insurance for self-employed and ensure you obtain the cover you and your company need.
Personalised Service: We believe in building long-term relationships with our clients. From the initial consultation to ongoing support, our advisors are committed to providing personalised service and guidance every step of the way.
Competitive Rates: As we work with the whole of the protection market our specialist advisers ensure that you get maximum value for your financial protection needs.
Contact us about life insurance for self-employed today
Being your own boss can be rewarding. But it also comes with the responsibility of planning for the unexpected. Don’t wait until it’s too late to make plans for you and your family. Contact Sports Financial Services to schedule a consultation and learn more about life insurance for self-employed. Alternatively check out life insurance inheritance tax.
Contact us today to discuss your individual and business protection needs and to discover which options are right for you. Contact us via our online contact form or speak to a specialist adviser at 0345 565 0935.