The Self-Employed and the Disability Insurance I
There are a lot of individuals who are self-employed at present in our society. Some consider to have a few employees to help them manage their business and some some consider a group of one only. In either case they need to acquire medical health care coverage.If they hadn’t done so already, it is the first and foremost in the list of important issues. New York has a lot of insurance agencies that are accessible to assist you in finding the right plan for you.
of course, as a self-employed and with the assistance of a few employees, accessibility to a group plan is a lot easier, but what about you being a self-employed as a group of one? Which agency do you begin? What type of medical health insurance coverage are available to you? Would it be better to apply for an individual policy? Have you considered disability insurance coverage in case a catastrophic incident occurs in the future? For those individuals interested and thinking about acquiring disability insurance, whether as a separate policy or an addendum to a current medical insurance policy there are a few thing to consider. Through www.about-disability.com they go into detail to help you find which is best for you, such as:
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1. Own Occupation is the inability to perform current employment expectations.
2. Modified Own Occupation is the inability to continue performing the mandatory duties of your current occupation.
3. Gainful Occupation is the inability to perform any current business related tasks based on education, training, and experience.
Though it may not often be considered, but it may be in your best interest to look into disability insurance coverage as well as a low-cost health insurance.
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1. This helps in providing a financial cushion for you and your family members in the event of a catastrophic accident or unforeseen debilitating illness.
2. Continuous guaranteed income between 50% – 65% of your gross annual income, depending on the disability insurance program chosen.
3. As long as the disability exists, the individual disability insurance income would continue, unles you are able to get back on your feet.
4. This brings the individual peace of mind in handling month-to-month expenses.
The absence of acquiring affordable health insurance could become very costly to you down the road. Trying to apply for state assistance could leave you wandering in a sea of red tape that could take months for a decision to render. Depending on the Social Security, provided that you have been paying into the system could be costly as well. The time lapse could leave you bankrupt.
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