Why Freelancers Should Get No Medical Disability iInsurance

You are the company when self-employed, if the owner decides to take a vacation, there is no one there to cover for them and bring money into the business. The same goes if that person is injured or falls ill. Having no medical disability insurance means that if you are unable to work due to illness or injury, the insurance will cover some of your expenses until you are back on your feet (the amount covered is generally a portion of what a person makes per month, and varies per company). Having this insurance could help cover business and personal expenses while you recover or, if unable to recover, provide an income to help keep you on your feet. When facing a short-term or long-term disability, there are several additional expenses to take care of. For example, the purchase of a suitable wheelchair (after having looked at top wheelchair reviews, preferably), home modifications if needed, caregiver expenses, and more. This is why it becomes important to consider the different types of disability coverage.

Longer term coverage. With disability insurance policies, disability falls into two categories: short term and long-term disability. Short term is when someone is unable to work due to accident or injury for a period usually of less than three months, long-term disability kicks in at or around the three-month mark and runs until a period stated in the insurance policy. Normally, EI provides some short-term disability coverage, but that is only if the self-employed person has paid their optional EI premiums, and those benefits may run out even when the person still needs them. Canada Protection Plan would provide longer-term coverage, however the amount per month received may not be as high as one through purchased coverage.

Peace of mind. With the instability and tighter margins that comes with being self-employed, having no medical disability insurance will let you relax, knowing that no matter what your needs are protected. With NoMedicalLifeInsurance.ca, you can submit a quick online application and we will get you quotes from some of the biggest names in insurance and find the right coverage to fit your needs.

While at times it may seem expensive or unnecessary, having the support that no medical disability insurance provides can be a lifesaver. It can provide short-term or long-term income that would cover car payments, mortgages, pay for groceries or electricity. When you are self-employed, you are the company so it is important to protect its most important asset. People who are self-employed often make many sacrifices to have the career they have dreamed about, and an important part of the Canadian workforce, having the right coverage can help get them back on their feet and following their dreams.

For more information, visit www.NoMedicalLifeInsurance.ca or call 1-866-899-4849.