If you’re a self-employed contractor that receives a 1099 form from some of your clients, disability insurance should be an important component of your financial plan. It’s no longer true that only people working at large companies can get adequate coverage.
Disability insurance may be tough for independent contractors to secure, but an agent that specializes in disability insurance can help guide you through your choices. Disability insurance pays a weekly or monthly benefit (or income) to an insured contractor in the event they are unable to work due to a disability or long-term injury.
Disability insurance policies usually require a waiting period following the accident or event that caused the disability, before the policy begins to pay the benefit. The premiums you’ll pay will be based on the waiting period length, the percentage of your salary that will be paid each month and the general risk of your occupation.
Coverage for home-based contractors and professionals is offered by only a handful of disability insurance companies, including Unim-Provident, Aquent, Guardian Disability Brokerage, Northwestern, and Illinois Mutual. Although it can be tricky to get a good disability insurance policy if you’re self-employed, Jeff Pennington has the experience to help you find the best policy with the best rates.
Call Jeff Pennington today at 1-877-221-6198 and let him help you make the best choice for your law firms’ disability insurance policies. It helps to have an expert on your side to get the best rates and policy available from the right insurance provider.