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If you have recently become self employed it might be confusing, but one thing is certain – you need to get protected.

If you have worked for someone all of your professional life, things like insurance have probably always been taken for granted. You probably had life insurance, critical illness cover as part of your employment package and you may have even had some sort of protection if you were out of work for an extended period.

But now you are self employed, that's all gone, you are on your own. And that means covering your own back by seeking out some advice and getting some decent protection for your finances and your life.

It might not seem like something you would put to the top of your list of things to do, especially during this difficult time, but think: what would happen if your business stopped making money? What would happen to your mortgage payments? How would your family cope? Would your business survive?

For a few pounds a month you can forget all those worries. Taking out some prudent protection against your life, your earnings and your financial commitments can save thousands of pounds in the long run. No one likes to think the worst can happen, but it does and you need to be ready.

So if you are newly self employed, talk to your financial adviser about protecting you, your family and your business. You work hard, probably harder than ever in this recession, so don't let that all go to waste by not putting aside a tiny amount each month. No one is sure of anything right now, except those people with decent insurance.

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