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Posted: 1 Jul
You are self-employed and finally doing well. You want to know what you can do to protect the future you are successfully building. Things like life and disability insurance may have crossed your mind. Here are some things to take into consideration when thinking about protecting your future and your family with a disability policy. Contact us to learn more.
When you work for a large business or have group health insurance from some other avenue, your plan probably has disability protection already. Single-payer plans do not usually include something like this, and you will have to seek out and pay for that separately from a health plan that is additional to what is already offered by the government.
Your health care plan will pay for all of or part of things like:
If you get sick or are out of work for an extended period of time, what is not covered? Your life, your day to day responsibilities, like paying bills, mortgages, rent, etc.
Disability insurance will make sure that you are paid at least 65% of your normal wages. The payout can get as high as 85% too. You can opt to pay for the policy with your corporation, or as an individual. As a corporation, your policy payments are deductible. Once you have a policy and (heaven forbid) you get into an accident or fall ill, a portion of your missed wages will be covered. Your plan will help you pay expenses if you are temporarily disabled and if you are permanently disabled.
While you hope to never actually need to use it, having a disability policy in your back pocket is a wise choice. The risk of being disabled is much higher than the risk of dying, and it is a good idea to make sure you and your family will be taken care of should something happen to you. Contact a Vistaplan advisor today to talk about your disability insurance options.
David is a well-respected insurance advisor with over 30 years of experience helping healthcare professionals, business owners, and their families secure their financial futures. He takes the time to make certain his clients understand the life, disability, and health insurance products they are purchasing, so they can make the right choices for their budgets, plans, and futures. CONNECT WITH ME ON LINKEDIN