Unlike salaried employees, self employed workers can’t get disability leave and still manages to earn. So, if you get disabled and can’t earn anymore then disability insurance can help pay the bills.

Why one should buy disability insurance for self employed?

Usually, people buy life insurance policy to secure his or her family members if they die. With the help of life insurance, people secure their loved ones future so that they do not have to suffer from a severe economic condition. Therefore, consequently, they manage to secure their loved ones over their premature death.  But what will happen if the same person gets some type of ailment and suffers from certain medical disaster or injury and thus survive with a disability but doesn’t die?

Therefore self-employed person should but the best disability insurance policy for himself or herself. One should choose disability insurance companies based on the fact that how flexible the policies are and the occupational and health niches they fill. Such policies even help its policy holder to meet their personal need or the needs of your small business.

Self employed personnel generally don’t have the indulgence to miss work. Because unlike salaried employees, self-employed persons can’t get disability leave and still earn. So, if he or she get disabled and thus can’t make money then the disability insurance for self employed can help him or her to pay the required bills.

There are two types of disability insurance for self employed person.

1. Long term disability insurance for self employed: – Long term disability insurance for self employed is a kind of insurance policy which gives coverage of injury, illness, and disability that has disabled the person to work anymore. It gives the coverage for a long time to its policyholder. Such policies usually take up to 90 days or more to process. Once your claim is settled then you will receive its benefits for years until you recover. According to The Council of Disability Awareness list, there are several types of long term disability claims available in the market. These claims are:

• Cancer
• Mental disorder
• Coronary artery disease
• Musculoskeletal tissue disorder
• Connective tissue disorders
• Osteoarthritis
• Cardiovascular disorder
• Circulatory disorders
• Injuries or poisoning
• Heart attack

1. Short term disability insurance for self employed: – Short term disability insurance for self employed is a kind of insurance policy which gives coverage of injury, illness, and disability that has disabled the person to work anymore. It gives the coverage for a short time to its policyholder. Such policies usually take up to 14 days or more to process. Once your claim is settled then you will receive its benefits for a few months or hardly a year. There are several types of short term disability claims available in the market. These claims are:

• A disabling injury
• The birth of a child
• A lengthy illness

Which type of disability insurance for self employed one should buy is entirely depend on his or her injury or disability or their need. But before buying one should do a little research on the insurance companies and compare the policies.

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