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Aviva Launch Income Protection for Freelancers

freelancesupermarket.com newsroom

RSS 17 October 2017
Being a freelance professional offers a great income for most, but what if it just stopped due to no fault of your own? You need protection.

Up until now the so called "income protection" market for freelancers has been pretty basic, with many well known companies not willing to offer cover for the self employed.

This has always made going out on your own a risky business, because at the end of the day, if you find yourself in a position where you can't work anymore then who is going to pay the rent or put food on your table? It isn't going to be the government, I can tell you that.

Fortunately, Aviva are one of the companies who have decided to offer income protection plans for freelance workers, which are designed to cover basic living costs if you find yourself unable to work.

Depending on which plan is chosen, a fixed benefit amount of between £500 to £1500 a month is given out which then goes towards covering costs such as the mortgage, rent, bills, and food.

Ironically, mortgages for freelancers are not very common, but, things are changing and in 2017 there are more lenders who are willing to approve freelance workers for a mortgage loan. It's good to know that if you are self employed then you can also add income protection into the mix.

Back to Aviva and it appears that signing up for their particular income protection will start at around £30 a month for a basic plan and then move to £60 and £100 a month if you want more benefits.

There doesn't seem to be a limit to how many claims a freelance professional can make once signed up with Aviva, and each individual payment period could last up to 12 months.

So freelancers are definitely covered over there at Aviva, and if you ask me they are a company that can be trusted to treat you fairly and keep things honest.

Obviously, choosing whether to get an income protection plan is something that only you can decide.

Many freelancers take the path of no income protection, and many get away with it, never finding themselves in a position where through no fault of their own, there isn't enough cash in the bank to pay the bills.

If you decide not to go down the path of income protection in your freelance career then may I suggest at least having a bit of savings tucked away just in case.

At least you would then have a bit of cash on hand to get you through a month or two of not being having an income, which gives you the chance to work out a plan on what to do next.

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