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5 Options If You Get Sick As A Freelancer?

Yesterday I got sick. Nothing too serious, but enough to knock me off my feet and into bed.
Picture of Alex Andrews
12 Dec 22
If you become sick as a freelancer, you may find yourself in bed!

Yesterday I got sick. Nothing too serious, but enough to knock me off my feet and into bed. I’ve managed to do a few bits of work which I’m grateful about, but it got me thinking – what happens if I get sick as a freelancer?

Do Freelancers Get Sick Pay?

Falling ill as a freelancer can be a significant challenge. Unlike employees who can take time off work and still receive a salary, freelancers must find a way to cover their loss of earnings themselves. A prolonged or severe illness can prove to be especially difficult.

One option for freelancers to protect themselves against loss of income due to illness is to purchase an insurance policy that provides coverage for lost wages. This is known as self-employed income protection.

Self-Employed Income Protection

Self-employed income protection insurance can help you recoup some of your lost earnings if you cannot work due to illness or injury. This type of insurance provides regular payments that are a proportion of your average income. You can choose between short-term and long-term coverage. Short-term cover will provide payments for a set amount of time, whilst long-term cover can continue until you can return to work.

Self-employed workers are not entitled to statutory sick pay, but they may be able to claim Employment and Support Allowance to help with living costs if they cannot work due to health issues. Adults over 25 may be eligible to receive over £100 per week, depending on their circumstances.

Income protection insurance can provide tax-free payments of 50-70% of your average income to help you keep up with your bills. This can provide much-needed financial support during a difficult time and allow you to focus on your recovery without worrying about how you will pay your bills. 

The Office for National Statistics reports that there were 4.2 million self-employed people in the UK from January to March 2022, accounting for 13% of all employment. With such a large number of people working for themselves, it’s important to consider protection in case they become unable to work.

Self-employed income protection is a good choice for freelancers, but there are other options.

Mortage Protection Insurance

Mortgage protection insurance is a type of insurance that provides coverage for your mortgage payments if you are unable to make them due to illness, injury, or other unforeseen circumstances. This type of insurance can help protect your home and prevent you from losing it if you cannot work and earn an income.

Mortgage protection insurance can provide coverage for a specific period, such as one year or five years, or it can provide coverage for the remaining term of your mortgage. You can choose the level of coverage needed, and your age, health, and mortgage amount determine the premiums for this type of insurance.

Mortgage protection insurance can provide peace of mind and financial security for you and your family if you cannot work. It helps ensure that you can continue to make your mortgage payments and keep your home, even during difficult times.

Critical Illness Protection

Critical illness protection is insurance that provides a lump-sum payment if you are diagnosed with a critical illness, such as cancer, heart attack, or stroke. This type of insurance differs from self-employed income protection, which provides regular payments of a proportion of your average income if you cannot work due to illness or injury.

Critical illness protection can cover the costs of medical treatment, make modifications to your home, or replace lost income if you cannot work. The policy will specify the illnesses covered, and you will receive a payment if you are diagnosed with one of these illnesses.

While critical illness and self-employed income protection can provide financial security for the self-employed, they offer different benefits and are suitable for different situations. Critical illness protection is best for those who are concerned about the financial impact of a specific critical illness. In contrast, self-employed income protection is better for those who want ongoing coverage for a broader range of illnesses or injuries.

Life Insurance

Life insurance provides financial protection for your family in the event of your death. Life Insurance is important for those with a family that relies on their income to pay for their living expenses, such as mortgages, rent, and utility bills. In the event of your death, life insurance can provide your family with a lump-sum payment that can help to cover these expenses and maintain their standard of living.

Life insurance can provide peace of mind for you and your family, knowing that they will be financially protected if something happens to you. As a freelancer, it’s important to consider life insurance to ensure that your family has the financial support they need in the event of your death.

Where Can I Get Freelance Insurance?

A quick Google of the insurance you need will give you more results than you can get through. I’ve not purchased any of these covers, so I cannot recommend one. But I have used PolicyBee for Small Business insurance.

Do Your Best

While it’s not always possible to work at full capacity when you’re sick as a freelancer, it’s important to do your best to stay on top of your work and keep your business running smoothly. With the help of modern technology, you can work from anywhere (even your bed) and continue to provide your clients with the high-quality services they expect.

Prevention is better than cure; staying healthy as a freelancer should be a top priority. Eating well and exercising can help to boost your immune system and reduce your risk of falling ill. Good physical and mental health can help to boost your energy levels, improve your concentration and focus, and increase your productivity. This can enable you to tackle demanding projects, meet tight deadlines, and become more efficient. By taking care of your health, you can ensure that your business continues to thrive and grow.

Have You Been Sick As A Freelancer?

The Launchfyi blog is all about sharing knowledge. If you have ever been sick as a freelancer, we would love to hear from you. We would be interested to hear about your experience. Do you have insurance coverage, or are you considering it? Feel free to contact us or message us on social media.

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