What Happens If You Can't Work?
Income Protection
For most business owners, if they can't work — nothing happens. No sick pay, no cover, no safety net. Income protection and life cover ensures that your family and your business survive even when you can't be there.
Did You Know?
82% of UK self-employed workers have no income protection in place whatsoever. Yet the average time off work due to a serious illness or injury is 28 months. Without cover, that means 28 months with no income — and most business owners would lose everything within 90 days.
What's Included
Income protection insurance
Monthly payments if illness or injury stops you working.
Critical illness cover
A lump sum on diagnosis of serious conditions like cancer or stroke.
Life insurance
Protect your family with a payout if you die while covered.
Relevant life insurance
Tax-efficient life cover paid for by your business.
Key person insurance
Protect your business if a key employee is unable to work.
Shareholder protection
Ensures the business can buy out a deceased or ill partner's shares.
How Monopolising Helps
Assess your exposure
How long could you survive without income? We work out your actual vulnerability.
Find the right product
Income protection, critical illness, life cover — often a combination works best.
Structure it tax-efficiently
Many policies can be held within your business to maximise tax relief.
Regular review
As your salary and circumstances change, your cover should too.
Common Questions
What's the difference between income protection and critical illness?
Income protection pays out monthly if you can't work for any medical reason. Critical illness pays a lump sum on diagnosis of specific conditions. Both have their place.
Can my business pay for life insurance?
Yes — Relevant Life Insurance is paid by the company, sits outside your estate for IHT purposes, and is tax-deductible. It's one of the most tax-efficient benefits available.
I'm young and healthy — do I need this now?
The younger and healthier you are, the cheaper the cover. Waiting until you need it often means you can't get it. This is the one thing that's always cheaper to buy today.
Get a Free Income Protection Review
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