Disability Insurance For The Self-Employed


A number of people buy life insurance. However, people shy away from buying disability insurance as they feel they are not likely to be affected by a disability.

Disability insurance plans are also very important with the perspective of making your future safe. You have the assurance of getting financial help from in the form of disability benefits if in that unlikely event you become disabled.

People, who are employed or are working for the government may have the benefit of not just life insurance, but also disability insurance.

The employers are obliged under law to pay a part of the premium of these policies whereas the other part is deducted from the employee’s salary.  In the event an employee is disabled, disability benefits help the employee to continue living comfortably.

However, in case of self-employed people, there is no such insurance coverage to fall back on, in case of disability. In case you are self-employed, running your own business or profession, it is very important and prudent that you participate in a disability insurance policy with a disability insurance provider.

In case of any eventuality where a self-employed person becomes disabled, obtaining disability benefits from federal agencies is being a long and drawn out process that may take time. A disabled person needs a means to fall back upon in case of disability. There are bills to pay, children’s education to take care of, medical expenses and all sorts of financial expenses that need to be met.

In case a self-employed person has disability insurance, then the person has a means to meet immediate expenditure. There is little doubt that life for a disabled person is tough. Disability insurance makes it easier for a disabled person to meet immediate expenses and to plan for the future ahead.