Life is unpredictable. For freelancers, this reality is even sharper. With no employer-provided benefits, no guaranteed sick pay, and income that can fluctuate, the unexpected can derail everything.
According to Cancer Research UK, 1 in 2 people will face a cancer diagnosis in their lifetime. The British Heart Foundation reports that 100,000 people are admitted to hospital with heart attacks each year. These events arrive without warning and can leave families not only devastated but also financially vulnerable.
The good news? For less than the cost of a few takeaways per month, depending on your age and health – you can remove that risk.
Great cover is available (paid for by your limited company), and you don’t need to spend that much to get full peace of mind. Arranging it isn’t complicated: it often takes just a couple of hours. A quick task now can prevent years of hardship later.
Life Insurance action Plan
- Protect your family’s financial future - Cover mortgages, bills, and childcare in case something unexpected happens.
- Affordable and flexible options – Plans can start from under £20 a month, tailored to freelancers’ needs.
- Quick and simple – Set up in under 2 hours, even between client calls or family commitments.
- Peace of mind – Focus on your work and family knowing your loved ones are secure.
Is Your Family Protected?
Ask yourself this: If something happened to you tomorrow, would your family be okay financially?
Freelancers rarely have safety nets like death-in-service cover that salaried employees take for granted. Without life insurance, your partner or children could suddenly face paying the mortgage, covering bills, or funding childcare on a reduced income. For many families, that could mean selling the home, cutting back drastically, or giving up opportunities.
Life insurance protects against that. It’s not about money—it’s about security. It ensures that your children are not affected by a downturn in finances, your partner can keep the house, and your family can carry on if you’re no longer there to provide.
Why You Need Insurance
- Unpredictable income
Freelancing means financial highs and lows. Insurance adds stability by guaranteeing support if you’re no longer able to generate income. - Protect your children’s future
School fees, extracurriculars, or even just keeping them in the lifestyle they know –insurance ensures your children’s opportunities aren’t lost. - Cover the mortgage and debts
A mortgage is often the single biggest household expense. Insurance clears it, so your loved ones aren’t forced to move or struggle with repayments.
Peace of mind for busy parents: Freelancers juggle deadlines, clients, and family life. It’s easy to push insurance down the list. Once set up, it’s one less thing to worry about.
What Does It Cost?
One of the biggest myths is that life insurance is unaffordable. The reality is:
- Basic cover can start from £10–£20 per month for young, healthy freelancers.
- More extensive protection, covering mortgages and family expenses, typically averages around £100 per month.
- Costs depend on age, health, and cover level - but policies are flexible to fit your budget.
Think about what you spend each month on coffee, apps, or subscriptions. Life insurance can cost less and delivers far more value: certainty that your family won’t suffer financially.
The cover can also be paid by your limited company, benefiting from circa 50% tax relief.
Real-life example – Sarah who planned ahead
Sarah, a 42-year-old contractor earning £100,00 a year, with two children and a £250,000 mortgage, set up three policies through her limited company:
- Life insurance (£250,000 cover) - to clear the mortgage if she died.
- Critical illness cover (£100,000) - to pay out if she was diagnosed with cancer, heart attack, or stroke.
- Income protection (£3,000/month) - to replace most of her income if she couldn’t work.
If Sarah was diagnosed with cancer: Her critical illness policy would pay £100,000. The mortgage balance would drop significantly, and she could afford private treatment and extra childcare.
If Sarah died unexpectedly: Her life insurance would pay £250,000, enough to clear the mortgage and give her partner and children financial security.
If Sarah was signed off work for a year: Her income protection would pay £3,000/month, covering bills, groceries, and living costs without draining savings.
Without no cover in place, Sarah’s family would be left financially exposed. If she became seriously ill, her income would vanish while the mortgage and bills kept coming. If she died, her partner would face a £250,000 mortgage and the full cost of raising two children alone. Even a year off work would mean losing over £36,000 in earnings. Her loved ones would be forced into making painful financial choices—selling the home, taking on debt, or drastically cutting back their lifestyle.
“Sorry I did not get around to it,” is not going to pay the bills.
How Long It Takes to Set Up
Parents and freelancers are busy—it’s easy to keep saying, “I’ll sort that later.” But insurance is quicker to arrange than you think.
- Work out your needs – Add up your mortgage, debts, and a few years of living costs.
- Get a quick quote – Providers can deliver preliminary quotes in minutes.
- Complete a short application – Health and lifestyle questions, usually no medical needed.
- Start your cover – Direct debit in place, policy documents in your inbox, and peace of mind in your pocket.
From start to finish, it takes around two hours. That’s less time than most freelancers spend chasing invoices.
Life insurance isn’t about expecting the worst. It’s about preparing so your family doesn’t face unnecessary hardship if the unexpected happens.
You can’t control what life throws at you, but you can control how secure your family is. So ask yourself: is your family protected? If the answer is no, there’s no better time to act than today.
Commit today to quickly setting up life insurance to ensure your family is protected.