» Read the full story

Many people who are self employed think that they are superman, and will never fall ill – a mistake that could cost you a fortune and even your home.

If you run your own business, or if you work two jobs, or even if you are rely on commission and bonuses to pay the bills, illness could be disastrous to your finances.

Imagine not being able to work for a month, or even six – would you be able to pay the bills? Would you be able to keep your business going?

And don’t think ‘oh, it will never happen to me’ because none of us are super-people. Every day millions of Brits fall ill, have accidents or receive some bad news from the doctor. It’s life – and it should be covered with some sort of insurance.

New research from Moneysupermarket has found that almost a quarter of people don't know what payment protection insurance is, while only one in seven Brits consider cover crucial enough to have it.

Cover can come in the form of life insurance, critical illness insurance or payment protection insurance. If you fall ill, or even die, the cover will make sure your home and your business will not be affected by your misfortune.

If you think you might possibly fall ill or become incapacitated at some time in your working life, talk to an adviser. They will help you choose the best cover that will genuinely leave you covered, whatever happens.

Keep up with the latest news and comments on Self Employed Mortgages at the Self Cert Mortgage Blog