LONG-TERM DISABILITY INSURANCE FOR THE SELF-EMPLOYED IN ONTARIO
Being your own boss provides a level of freedom and benefits that are hard to find in traditional work settings. That’s why more and more people are opting for self-employment. However, along with the advantages come certain responsibilities, such as arranging your own insurance coverage. As a self-employed individual in Ontario, you might wonder if you can obtain disability insurance tailored to your needs. Desjardins disability insurance can make all the difference through every important stage in life, for both you and your business. It allows you to stay in control of your finances,
protect your interests and help plan your succession, among other things. Your earning potential is likely one of your most valuable assets. It would be smart to include income replacement in your financial planning. Disability insurance can ensure you keep meeting your financial obligations by helping you pay your monthly bills during tough times. Fortunately, DFSIN empowers me to offer a range of options for long-term disability insurance for the self-employed.
Understanding Long-Term Disability Insurance for the Self- Employed:
Long-term disability insurance for the self-employed is designed to ensure financial stability in the event that you become injured and unable to work. This type of insurance provides a monthly stipend, which is a percentage of your regular salary.
The Importance of Purchasing a Long-Term Disability Insurance in Ontario:
Disability can strike unexpectedly due to various reasons, including accidents or unforeseen illnesses. That’s why it is crucial to prepare for such scenarios, even though they may never occur. By investing in long-term disability insurance for the self-employed in Ontario through myself empowered by DFSIN Toronto West, you can enjoy the following benefits:
Comprehensive Coverage:
Traditionally, disability insurance aims to replace around 65-85% of your monthly income, although this amount can vary depending on your circumstances. With long-term disability insurance for the self-employed, you receive personalized coverage tailored to meet your specific needs.
Flexibility:
Your coverage remains intact even if you change your job or withdraw from an association (with certain conditions), providing you with peace of mind and uninterrupted protection.
Tax-Free Benefits:
The benefits you receive from long-term disability insurance for the self-employed are not subject to taxation, allowing you to make the most of your financial support during challenging times.