When it comes to income protection insurance self employed people can also benefit from this kind of protection policy. These protection policies are specially designed for the needs of self-employed workers who will not get employer benefits of any kind if they can't work.
Self employed income protect products work in a similar way to employed income protection policies. They are designed to replace a portion of your income if you cannot work. They generally will not replace your entire income but they will allow you to pay your essential bills and cost of living expenses. The more monthly income you would want to receive from your protection policy if you were out of work, the higher the cost.