The overwhelming majority of self-employed workers have no critical illness cover, leaving them open to financial ruin in the event of long-term sick leave.
Quote from Nigel Holland:
“It is crucial that all self employed workers have a back-up plan in order to protect themselves and their family from the downfall which may occur. The self employed should ensure that they have savings kept away so that they have capital to fall back on and live off for a short while. I would suggest that life insurance and/or critical illness cover are taken into consideration to ensure that financially they will be able to cope.”