Highly rated by our clients on independent reviews website reviews.co.uk

Highly rated by our clients on independent reviews website reviews.co.uk

Highly rated by our clients on reviews.co.uk

Self employed income protection

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Self employed income protection

Self-employed income protection insurance provides you with a regular monthly income should you be unable to earn through sickness or an accident.

Here at Black Lion Insurance, we’d like to think that we’re an authority on income protection.  In particular, our advice supports the needs of contractors.  It’s our speciality.  Broadly, this is an area of the market we know inside out.

So, relax and give us a call.

As a whole-of-market adviser with access to a wide range of financial products, it will be our pleasure to share our expertise and knowledge with you.

Above all, we want to help you protect the things that are most important to you.  Such as? Your home, your income, your family and your lifestyle.  Also, we want you to learn about  the financial products we recommend.  Why? Because we want you to feel totally at ease with your chosen policy.

Reward…and risk

If you’re self-employed, you already know the benefits it can bring.  However, you must consider your personal insurance options carefully.  Along with the “ups” of being self-employed, there are considerable “downs”.  Or, there can be.

Commuter no more!

There comes a time in your life when working for yourself is by far and above the most appealing option in your working life.

With no boss, no long hours spent commuting, you’re answerable to yourself.  At last, you’re doing something you love.

Or, maybe you’ve never had a “proper job”.  You’ve always been your own boss. There’s a “but”.  There’s always a “but”.  And it’s this:

Things can change.

Why you may need self-employment protection from Black Lion Insurance.  Understand your financial risks.

There’s no sick pay, no holiday pay, no health insurance – the list of things you don’t get is pretty long.

Basically, what would happen if you broke an arm or a leg in a car accident? Or, we know it’s a cliché, run over by a bus?  It happens, you know.  Sudden, critical illnesses also happen. What’s worse, the safety net that was your employment package is no longer there.

Do you have enough money put away to cover your mortgage, bills and all those other important financial commitments?

Should you be unable to work, it will be good to know that you took advice from Black Lion Insurance.  

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How can we help you?

We work with all the major UK providers, including Aegon, AXA, Aviva, Bupa, Legal & General, Liverpool Victoria and many more.  We’ll research the pick-of-the-bunch policies that meet your needs. Only, and only if we find your best solution, will we recommend it.

Read more about our income protection advice, our critical illness cover and our life insurance advice.  Or, check out our accident and sickness insurance.

These policies, should you make a claim that’s accepted could help in several ways, either by paying a lump sum, or enabling you to insure up to 65% of your gross earnings.

The best option for you?  Right now, it’s to call us to discuss your needs.  As you can see, this is a big area of insurance, so get in touch and we’ll get started.

Do you need Self employed income protection?


Self-Employed Income protection would be vital if:

  • You are self-employed and would not be able to pay the bills if you were unable to work. It would ensure that you would be able to pay your bills if you were ill or injured.
  • The only income in your household is yours.  And, you know that you would not be able to pay the bills if you were unable to work.  As the sole provider of earnings, choosing income protection insurance is the best way to protect yourself and your family financially. Let Black Lion Insurance find the best policy for you, to ensure you can pay the bills and monthly outgoings if you suffered an accident or sickness that meant you could not work.

Self-Employed Income protection is important to you if:

  • You are self-employed, and you don’t have a large amount of savings that you are happy to dip into. Consider taking out an accident and illness policy for maximum protection.
  • You are the sole income provider and your employer offers sick pay. Check what level of sick pay you would get from your employer before making a final decision about income protection insurance. Few companies offer long term sick pay beyond the Statutory Sick Pay, so it is important to have all the information in advance.
  • You live in a joint income household but are unsure if your partner would be able to cover the financial responsibilities. If your partner’s salary couldn’t cover the bills, then it would be worthwhile considering an income protection insurance policy.

How does an Self employed income protection policy help when you need to claim?

You stop working due to an accident or illness, and stop earning an income.

You inform us, and we will guide you through the claims process with the insurer.

You will start to receive your monthly payout.

The monthly payout will continue for as long as your insurance policy covers.

What are your policy options?

Short-Term or Long-Term Protection
There are two types of accident and sickness insurance plans.
Short-term plans usually range from 6 months to 2 years. Long-term plans will pay out until you are well enough to go back to work, whether that’s 1 year or 10 years.
Deferred Period
A deferred period, or excess period, refers to the duration of time between stopping working, and when your insurance policy will start to pay out.
This can range from just a couple of days, up to a whole year. The standard length of time for most long-term insurance policies is 4 weeks.
Indexation helps to protect your policy against inflation. Your monthly payments will increase each year, to reflect any increases in costs according to the Retail Prices Index (RPI).
Policy Cease Age
Your insurance policy cease age is how old you will be when the policy will end. This is normally the age you will retire at but could be older.
Maximum Pay-Out Period
This refers to the longest length of time that you can make a continuous claim on your income protection insurance. For short-term policies this could be from anything between 6 months to a couple of years. There are not usually restrictions with a long-term policy. You will receive payments until you are either able to return to work, or you reach your policy cease age.

What affects the costs of your policy ?

Monthly Payout

The higher your monthly payout amount, the higher your policy premium.

Deferred Period

The longer the length of time before your policy pays out, the cheaper your premium.

Medical History

Previous illnesses or injuries may increase policy premiums or be excluded from your cover.

Policy Cease Age

The longer the policy runs, the higher the premium will be.


The older you are, the premium is likely to be higher.

The costs of your insurance depend on various factors.
The more you want to insure for each month, will subsequently increase your premium, as well as the length of the policy and your deferred period.
Your age can also play a role. The older you are, you are seen as more likely to make a claim and so your policy premium will reflect this.
It is important to declare any previous medical conditions or illnesses. Certain disorders may not be covered by your income insurance and others may mean you incur a higher premium.
You will also be asked about your smoking status. Smokers are deemed higher risk resulting in a higher cost for your insurance.

What our clients are saying

Black Lion insurance were great in helping me get through the countless jargon and pitfalls when it comes to setting up insurance. I was thankfully recommended to them by a colleague and they made the process seamless ensuring I have the most appropriate policy for me.

I’m an IT contractor and I wasn’t sure if I was eligible for this cover, however, to my delight, not only could I have the cover, but I could pay it through my Ltd company. I was covered within an hour of getting in contact. Very prompt and informative service!
Sanjay P

Polite and very clear when explaining my product of interest. Happy to answer any questions and recap on areas that I wanted to ensure I understood clearly before committing. Didn’t feel pressured or rushed at any point and the chap was very pleasant.
Donna Rudd

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About Us

We are a dedicated team of financial advisers, with years of experience in guiding our clients to a solution that meets their specific needs. We specialise in helping both employed and self employed individuals, as well as business owners on a variety of solutions, which range from life insurance, income protection insurance, keyman insurance and shareholder protection insurance.

The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

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Black Lion Insurance & Black Lion Wealth are a Trading Style of PRG Protect Ltd

PRG Protect Ltd: Registered in England & Wales, No. 08286239.  Registered Office: 51 The Parade, Cardiff, South Glamorgan, Wales, CF24 3AB