freephone 0800 862 0373
Sign in to view your quotes
Email address:
Password or PIN:

Forgotten your password? Reset it here.

Number of self-employed UK workers hits an all-time high

Published on 03/07/2012

As 8.2 per cent of the working age population becomes self-employed, experts emphasise the importance of income protection insurance for people who manage their own business.

According to recent figures from the Office for National Statistics (ONS), almost 4.2 million people were registered as self-employed over the three months to April.

This is a rise of 84,000 over the previous three months, and the highest figure since records began in 1992. According to the ONS, the number is equivalent to 8.2 per cent of the working-age population.

This surge in self-employment has come about because people have been unable to find permanent work with companies due to the flat-lining economy. Chris Short, a director at recruitment firm Concept Resourcing, said:

“Many would-be employees understand that they will often be more attractive to employers if they are self-employed and work on a contract basis.”

But individuals who manage their own business do not have the same level of protection from accident or sickness as those who are employed. Self-employed workers will not receive sick pay or income protection insurance as part of an employee benefits package.

Consequently, if they become ill or suffer an accident they will have to rely on savings or Employment and Support Allowance of £95.15 per week.

Recent research from MetLife shows that 21 per cent of employees have been off work for more than four weeks through illness. Stephanie Baillie of MetLife said: "Long term sickness absence leading to more than four weeks off work has been experienced by a significant proportion of the working population.

“Insurance cover that protects against life’s uncertainties is absolutely essential as many would be left unable to support themselves if they lost their livelihood through illness.”

© ActiveQuote Ltd. 2012

Categories:  Income Protection
Number of self-employed UK workers hits an all-time highAs 8.2 per cent of the working age population becomes self-employed, experts emphasise the importance of income protection insurance for p    tweet it on twittershare with your friends on Facebookshare with your friends on MySpaceBlog it on your LinkedIn profile

No.1 health insurance broker as rated by customers

A great service from the initial call, to finalising the agreement. I would highly recommend to my family and friends.

Review centre member

Proactive, efficient, and offered me insurance I need. I would say half price I would end up paying if I did it by myself. Many thanks.

Review centre member

Excellent service. Explained everything in detail and really helped to find the right insurance best suited to my needs - which wasn't necessarily the most expensive. 

Review centre member

Good value and the advisor was very helpful and recommended the best policy for my grandson. I would definitely use this service again and recommend to others.

Review centre member

We were contacted in good time to make a knowledgable choice. We were given plenty of options with lots of information to enable us to make the right choice.

Review centre member

The service I received was excellent, the staff member was very efficient and knowledgable. She went out of her way to get the best policy for me.

Review centre member

Great service. I really appreciated the help provided by Active Quote to arrange health insurance. The agent was very informative and proactive. Many thanks!

Review centre member

I received excellent care and attention from the first phone call till the last. Friendly, efficient and patient.

Review centre member

Staff are very helpful, friendly and polite. They call back when they say they will and keep you up to date with progress. Pleasure to deal with.

Review centre member

Very polite and friendly, and gave detailed explanations of all aspects of the cover. Reassuring to know that if you do have a problem there is someone you can contact.

Review centre member
This site is operated by Insurance Broker ActiveQuote Ltd registered in England & Wales company number 6765845.
Authorised and Regulated by the Financial Conduct Authority (FCA). Firm reference number 501109 as detailed on the Financial Services Register. Please read our Key Facts document.
For information about your rights as a consumer visit Citizens Advice.

Our insurance comparison service is free and easy for you to use, but you are responsible for making sure all your information is entered correctly, and for choosing your insurer.

This site uses cookies in order to work correctly - these are not harmful and do not contain personal information. By using this site you consent to this. I understand  Tell me more

please wait ...