Disability Insurance Basics
What is disability insurance for self-employed people?
Self-employed people are responsible for their own disability insurance — there is no employer group plan. Individual disability insurance provides the most comprehensive coverage for self-employed people. Own-occupation definition is critical. Business overhead expense insurance covers fixed business costs.
Key Points
- Self-employed: responsible for own disability insurance
- No employer group plan available
- Individual disability insurance: most comprehensive coverage
- Own-occupation definition: critical for self-employed professionals
- Business overhead expense insurance: covers fixed business costs