Self employed should take out life insurance
Published On 21 January 2008
The self-employed have a particularly great need for full life insurance, it has been claimed.The Association of British Insurers (ABI) said that as those who are self employed are "responsible for all of their own benefits", it is important they take out appropriate cover.
Nick Kirwan, head of health and protection insurance for the ABI, advised that those becoming self employed should remember that they may be giving up life insurance that was offered by their employer.
"That's a time when people should really think: 'Hang on, I'm on my own now, what if my health lets me down?'
"If you're self employed, absolutely everything does depend on you being healthy and being able to do your job."
Mr Kirwan went on to affirm that "as a nation we are hugely underinsured for life cover".
One in three people in the UK do not have life insurance, according to the ABI.
