Supporting a Self-Employed Single Mum with Critical Illness Cover
We recently encountered an interesting real-life scenario, and we thought it would be helpful to show you how we assisted a self-employed single mum with her critical illness cover. Do you need specialised income protection, critical illness cover, or life insurance? It’s really important to ensure you are protected for your family.
Let’s dive in!
Client Profile:
- Name: Sarah, 42
- Profession: Freelance graphic designer (self-employed)
- Situation: Recently divorced, single mum of two children (ages 7 and 10)
- Mortgage: £220,000 remaining on her home
- Goal: Protect her income and ensure financial stability if she falls ill
The Challenge
Sarah approached us feeling overwhelmed. She had recently gone through a divorce, was now the sole income provider, and worried about what would happen to her children and mortgage if she became seriously ill or couldn’t work.
Her challenges included:
- Fluctuating income (due to freelance work)
- No existing protection in place
- History of a mild autoimmune condition, which complicated medical underwriting
- Needed affordable premiums that wouldn’t eat into her variable income
Broker’s Approach
We carried out a comprehensive fact-finding to understand her finances, health, and long-term needs.
- Reviewed health history carefully and pre-checked with multiple insurers to see who would consider her condition favourably.
- Split the protection: recommended a combination of critical illness cover and family income benefit, which would provide a monthly payout to support the children if she passed away.
- Recommended a waiver of premium and income protection policy with a 3-month deferred period to keep costs manageable.
- Worked with underwriters directly, explaining the stability of her condition and securing cover at standard rates (avoiding increased premiums or exclusions).
- Helped structure policies within budget, around £60/month.
The Outcome
Sarah walked away with:
- Critical illness cover of £100,000 – enough to pay off her mortgage if she was diagnosed with a serious illness.
- Family income benefit of £1,500/month until her youngest turned 21 – ensuring her children were protected if she passed away.
- Income protection that kicked in after 3 months off work, providing 60% of her average monthly income.
She now has peace of mind, knowing that her home is secure, and her kids are protected – and that she didn’t have to figure it all out on her own.
Client Feedback
“I thought insurance was out of reach for me with my health and income. My broker not only found cover I didn’t think I could get – they made me feel secure again. I sleep better knowing my kids won’t be left struggling.”
Contact us if you want to find out more about critical illness cover, for your own peace of mind. To ensure you and your family are looked after. No matter the circumstances!
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