Self-Employed Disability Insurance: Protecting Your Income
Disability insurance for self-employed individuals is a crucial safety net that ensures you continue to receive a portion of your income if you're unable to work due to illness or injury. Unlike traditional employees, self-employed individuals don't have the luxury of employer-provided benefits, making this insurance even more vital. Here’s a quick look at what it offers:
**Key Features:**
- **Income Replacement:** Provides a percentage of your income (typically 60-80%) if you can't work due to a covered disability.
- **Flexible Coverage Options:** Tailor the policy to match your income level and budget, with various elimination and benefit periods.
- **Own Occupation Coverage:** Ensures you receive benefits if you're unable to perform the duties of your specific job, even if you can work in another capacity.
- **Non-Cancellable Policies:** Lock in your premium rates and guarantee renewability as long as premiums are paid.
- **Partial Disability Benefits:** Receive benefits if you can work but not at full capacity, helping to supplement your reduced income.
- **Rehabilitation Support:** Access to programs and services to help you return to work as soon as possible.
**Why It’s Essential:**
- **Financial Security:** Protects your business and personal finances from the unexpected.
- **Peace of Mind:** Allows you to focus on recovery without the stress of lost income.
- **Sustains Lifestyle:** Ensures you can maintain your standard of living during a disability.
Investing in self-employed disability insurance is a smart move to safeguard your income and ensure continuity of your business operations. Don't leave your financial future to chance—get covered today!
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