Self employed disability insurance is something many self employed entrepreneurs don’t stop to think about. As a successful self employed person, it’s easy to feel invincible. But life can change in an instant, and as a self employed person you may be that much more vulnerable to illness or injury.
If you are self employed, you must consider obtaining disability insurance. No matter what business you are in, you can be disabled in an instant. Be it disease or accident, disability can happen to anyone at any age.
Disability insurance for self employed individuals is not difficult to obtain. Simply contact a number of insurance agencies, explain your circumstance and ask for a quote. Be sure to also obtain a copy of what is covered and what is excluded. The devil is in the details. Sure, you may be covered for mental illnesses, but how long will your coverage last? What about preexisting conditions? What about sick days?
As a self employed person, you must consider all of these factors into your rates. Being self-employed, you give up a lot of safety nets and you take on a lot of risk. Protect yourself and ensure that you have disability insurance for the self employed.
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