As a general rule, working mums are probably one of the most selfless collections of human beings you are ever going to find. How many times has a mum gone without her lunch to pick up the shopping for dinner that night, or skipped on her exercise class to make sure that her child makes it to yet another sporting event?
Most mums will have used their last pound for mufti day rather than buying their own breakfast, and if there is only enough money left for one pair of new shoes, you can guarantee it won’t be the mum walking round in a pair of funky white trainers.
But there are areas in life where a mum that runs her own business can give up just a little bit too much.
Most mums that started their own business did it as a way to earn money for the home while tailoring their lives around the needs of their children. The benefit of having a job that means you can be there when your children come home from school or you can be the one to look after them when they are sick is worth giving up that corporate suit for. But with the added responsibility of being a business owner and a homemaker also comes the responsibility of making sure that this can all carry on even if you are not there to do it yourself.
One of the great advantages of being employed by someone else is the range of cover you can receive when you are sick or have been involved in an accident. It means that even if you are unable to work for an extended period of time, there will always be the resources available to cover your role and still pay you for the time you need to take to recover.
But when you run your own business and every penny is accounted for, thinking about what would happen if you couldn’t carry on is something most Mums do tend to give up. But this is one area where being selfless could reap huge repercussions in the future.
By setting aside a small amount of your income every month for Critical Illness Insurance you can ensure that if the worst were to happen you would be able to afford for your business and your household to continue until you were back up on your feet and ready to take the helm again.
If you are the only person in your business then it is highly unlikely that anybody is going to be willing to take over for you while you are sick unless you are going to pay them to do so. And if you need all the income from your company to carry on running your family home, what will happen if you are simply unable to keep your company afloat?
It is the sad case that women who are employed are far more likely to have the provisions in place to support their family and their continued employment when they are sick. So make sure your family and your business are not going to be left out if the worst should happen to you and ensure you have the critical illness protection in place to create a solid and reliable solution for you, your business and your entire family’s future.