If you are a solo contractor / business owner, indeed you cannot pretend for unemployment compensation ("chômage"). But if you care about accounting, after some time you can live off several months / years without any revenue.

One last thing: at least in France (don't other countries) you are obligated to contract for multiple clients (at least 2) per fiscal year to avoid fraudulent employment and the risk of losing a client the next day. And in this day and age, landing a new client in the IT/Software/Data/AI/whatever industry is relatively easy!

Unemployment is the one benefit you can't get as a contractor (in France, I don't know about OP's country), but it doesn't work that great for higher income professionals anyway.

When it comes to health insurance or retirement you're generally covered though.