Why More Professionals Are Investing In Disability Insurance
Why Freelancers Are Picking Up Disability Insurance
Freelancers have been late to the disability insurance party, largely due to misconceptions about personal liability and cost. But as gig economies swell, they’re realizing the stark risks of income disruption from illness or injury. Many are waking up to this flyer and prepping, but there’s so much more to unpack here.
Without the cushion of employer-provided benefits, freelance workers face unique financial vulnerabilities. Many might not comprehend the magnitude of potential income loss due to unforeseen physical or mental health issues. Disability insurance offers them peace of mind, providing coverage that adapts to an unpredictable income stream.
The self-employed can often choose from a range of policies that align with their specific work risks and financial requirements. This customization, unattainable through traditional employment, puts freelancers in a prime position to tailor protections that government programs miss entirely. Not surprisingly, more freelancers are flocking to these policies for practical reasons.
Another surprising angle is the opportunity for industry-specific insurance calculators. For instance, a graphic designer might prioritize eyesight and hand function, each enlisted within their plan’s intricacies. By fine-tuning their policy with a laser focus, these professionals ensure no stone is left unturned in their financial planning strategies.