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PolicyBee launches private health insurance for sole traders

Ipswich-based insurance broker PolicyBee, in partnership with Equipsme, is now providing private health insurance for sole traders. To celebrate the new service, they are offering two months of insurance free to business owners who take out a policy before 31 October 2020.

PolicyBee, an insurance broker based in Ipswich, is now providing a private health insurance package for those working as sole traders. Partnered with insuretech firm, Equipsme, the duo are offering business owners two months of free insurance cover if you take out the policy before 31st October 2020.

PolicyBee acknowledged the challenge that sole traders have when trying to find private health cover – and have partnered with Equipsme in order to service this requirement. There are approximately 3.5 million sole traders operating in the UK who are able to take advantage of this offer and service.

South-London based startup Equipsme are one of the fastest growing insurance companies, specialising in business health cover. Partnered with AXA PPP, the policies start from £7 per person, per month and include physio sessions, 24/7 GP access, online health checks, nurse support and more. Policyholders have the option to upgrade to packages that include diagnostic treatment, stress support and physio treatment with no annual limit.

Until now, Equipme’s products required two or more employees, but the new policy is now available for self-employed professionals and sole traders.

Sole traders are often reliant on their ability to work and earn income. When a person who is self-employed falls sick or injured, it can often have a dramatic impact on their financial position. Health insurance is very undersubscribed in the UK, but can help mitigate financial risk to a business and the individual running it.

The cover offered by PolicyBee and Equipsme is available to workers aged 16 to 59 and the cost is the same for all ages.

Sarah Adams, health insurance expert at PolicyBee, explained: “For sole traders who work alone, any lengthy period of illness or inability to work has a massive impact on their business. Self-employed workers often experience stress over loss of income on top of being unwell. Taking out a full health insurance policy not only has the potential to get business owners back to work faster, but can improve mental well-being by reducing stress.

“We offer a simple service with no lengthy health questionnaires to fill in. Insurance can be taken out the very same day of enquiring. We understand that this year has been extremely challenging for many sole traders, so we are currently offering the first two months of the policy for free.”


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