Survey puts spotlight on income loss fears

Almost 50% of self-employed workers would see their business close within a year if they were unable to work due to illness or injury, a new survey estimates.

Research by Royal London on self-employed financial brokers throughout the country showed that of those that did not have income protection cover in place, almost half would expect their firm to cease trading while 48% also indicated that turnover would be cut in half.

According to Royal London’s analysts, the situation would likely be replicated across other sectors.