Top Self-Employed Insurance Plans in 2025

Nothing is more empowering than operating your own business. 

However, it may have its own downfalls. For instance, you won’t have any group term insurance like salaried individuals. This can leave your family without any financial support if something, unfortunately, happens to you.

This is why it becomes important to buy a self-employed insurance plan. 

This kind of plan comes under the category of term life insurance. It covers your loved ones in case of your absence and keeps them financially secure. Furthermore, if you opt for a terminal or critical illness rider, you can be financially secure during treatments as well. 

Let’s now take a further look into why you should opt for a self-employed term insurance plan. We will also help you make a choice and look at the best self-employed insurance plans. 

What is Term Insurance for Self-Employed Individuals?

A self-employed insurance plan is simply a term insurance plan for self-employed individuals. 

You, as a policyholder, pay a premium to the insurance company. The insurer, in return, pays a sum in case you pass away during the policy tenure. This sum can be useful in helping your family —

• Maintain their lifestyle
• Meet children’s educational needs
• Create an emergency fund
• Secure enough money for events like marriages

Why Should a Self-Employed Person Buy Term Insurance?

Undoubtedly, everyone needs a term insurance plan to cover the needs of their family and loved ones in their options. The same goes for business owners and self-employed individuals. 

Here are some reasons as to why you should buy term insurance if you’re a self-employed person —

• Lack of Employment Benefits — Employees in the organised sector can enjoy benefits like provident funds, and life and health insurance. 
  As a self-employed individual, however, you must invest in your own financial goals, retirement plans, and children's education. A term insurance plan becomes essential for achieving these goals.
   
• Cost of Business Ownership Transfer — If you can no longer run your business, transferring ownership to the next generation may require investment. Loans might be necessary to keep the business going. 
  Term life insurance can cover such financial needs, including loans taken for expansion and branding. It can ensure that the outstanding amount of a loan is covered even if the insured individual passes away.
   
• Financial Support for Terminal Illnesses and Disabilities — Term insurance plans cover more than just death. They can, for instance, include critical and terminal illness coverage and disability coverage. 
  As a business owner, having these additional coverages can be of great help in protecting your family and business from unforeseen events. If your basic term insurance doesn’t include these benefits, consider adding them for extra protection. 
  While an add-on cover slightly increases your premium, it also provides valuable additional security.
   
• Life Insurance with Single Premium — You can get a term insurance plan for up to 30 years by paying a one-time premium. This ensures your family is protected regardless of business or market fluctuations. 
   

For example, a term life cover of AED 3 million costs about AED 215* per year, making it affordable for self-employed individuals.

*Actual prices may vary as per your profile

Best Self-Employed Insurance Plans

Listed below are the best term insurance plans for self-employed people in the UAE —

Note: Policy tenure and the life cover are customisable. You can adjust these variables as per your salary, budget, and more. 

How Does it Work?

If you buy self-employed term life insurance from Policybazaar UAE, you will be asked to fill in a lead form.

There, you will need to mention your age and your income from the business. 

This will take you to the term insurance quotes page. 

On that page, you can further change the life cover amount and tenure as per your requirement and see the plans as per the changes you make.

Compare your options and click on the Apply Now button. 

How to Get Insurance for Self-Employed?

You can effortlessly buy a self-employed insurance plan on Policybazaar.ae. This website is a one-stop portal for all your term insurance needs. 

You can get the best term insurance for self-employed options from the leading insurance providers in the country. This also ensures that you get the privilege of comparing and choosing the best plan. 

And the best part? 

The website is pretty easy to use and helps you select a plan in just a few clicks. 

If you’re confused about your options, our insurance expert team is there to assist you.