Many of the UK's largest employers offer PMI to their workforce through group schemes but, says Jonathan Long, for the significant numbers who do not have access to these benefits, individual PMI has a role to play
Time is money for the self-employed and taking time off work for a GP appointment or through illness could mean a loss of control over their business, letting their customers down or a reduction in income. The number of self-employed people in the UK has risen to nearly 4.8 million while 3.3 million people run their own companies as sole proprietors, according to the Office for National Statistics and the Federation of Small Businesses respectively. It is these individuals who, while not having access to group protection policies, are likely to benefit most from having an individual priv...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes