The Best Disability Insurance Providers for Self-Employed Individuals in 2024

Disability Insurance for Self-Employed Individuals: Best Providers for 2024

As a self-employed person, getting disability insurance is key to keep your income safe. Unlike those with jobs, you must buy your own. It helps keep your business and personal life stable if health issues strike.

Why Do Self-Employed People Need Disability Insurance?

1. No Paid Leave: Self-employed folks don't get sick days like regular employees.

2. Income Protection: It replaces lost income, so you can keep living your life as usual.

3. Business Continuity: It lets you keep your business going, even if you can't work.

Top Disability Insurance Providers for the Self-Employed

1. Guardian Life Insurance

Guardian has many coverage options and benefits you can customize. It's reliable and can replace up to 60% of your income if you get disabled.

2. Principal Financial Group

Principal offers detailed disability insurance plans for self-employed folks. Their policies include own-occupation coverage, which is vital for skilled workers.

3. The Standard

The Standard provides flexible disability insurance for self-employed people. It has own-occupation coverage, making it a top pick for specialized fields.

4. MassMutual

MassMutual has disability insurance with both short- and long-term options. It's affordable and covers a lot, making it great for freelancers and small business owners.

Tips for Choosing Disability Insurance

• Assess Coverage Needs: Make sure your policy covers a big part of your income.

• Own-Occupation Coverage: Pick policies with this coverage for your specific job.

• Policy Duration: Choose a longer benefit period (like 5 years or until retirement) for better protection.

Final Thoughts

For self-employed folks, disability insurance is a must to keep your finances safe during tough times. By looking at what Guardian, Principal, and The Standard offer, you can find the right policy for you.

Call to Action:
Begin looking into disability insurance today. Protect your future and make sure your income is safe when you need it most.