If you are self employed, chances are your insurance benefits come from policies that you have selected and purchased on your own. You have to make your own decisions about medical insurance, dental insurance and disability insurance.
There is also a good chance that you haven’t given much thought to disability insurance. There are few TV commercials about this important line of insurance. Few people even know that it exists outside of an employer-sponsored plan.
There are few more important types of insurance than disability insurance. These policies can pay you an income for decades if you become injured or sick and are no longer able to work. Having an income while disabled can have a tremendous impact on your life. It can be the difference between living in your current home and living in government-sponsored housing.
If you are reasonably healthy and are under age 65, you probably qualify for a disability insurance policy.
Most people will find these policies to be affordable. Long-term disability insurance rates often surprise people when they get quotes.
Don’t make the mistake that many self-employed people make. Yes, medical insurance is important, but you need to have disability insurance and a retirement plan also. Make sure that you don’t miss the boat and forget about disability insurance. Having good coverage in this area can make a big difference in where you life and the way you live.