📖 Sole Trader Guide
The Sole Trader’s Guide to Income Protection
When you are the whole business, your health is the business plan. Here is how to protect it.
Get a Free Quote →Being a sole trader means there is no HR department, no occupational sick pay and — crucially — no Statutory Sick Pay either. If you cannot work, the income simply stops, and the bills do not. That is a blunt risk, and income protection is the bluntest, most direct fix for it.
The reassuring part is how flexible it is: you choose how much to cover, how soon it pays and for how long, so it fits a real budget.
Quick Answers
Sole Trader Cover — Quick Questions
Do sole traders get any sick pay at all?
No — not even SSP. That is precisely why income protection tends to be the first policy we recommend for the self-employed.
How is my income worked out for a claim?
We typically average recent years’ earnings so the benefit is realistic and pays out cleanly when you need it.
Can the benefit start almost immediately?
Yes — a short deferred period, even a single day, is available for those who cannot afford to wait.
Is it expensive for a one-person business?
Often not. Many sole traders are covered from around £10 a month, which is a small price for replacing your entire income.
Good to know: This guide is general information to help you weigh up your options — it is not personal financial advice. Cover, premiums, exclusions and any tax treatment depend on your individual circumstances and the insurer’s assessment. Life Insurance For Me is a trading style of More Than Money Ltd, authorised and regulated by the Financial Conduct Authority (FRN 1047044). See our regulatory information.
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Reviewed by the LifeInsuranceForMe advice team · Last updated · FCA authorised, FRN 1047044