Disability Insurance: Freelancer’s Take on DIY Insurance Management

Nowadays, health care expenses are expensive, and are progressively getting higher. If you’re a freelancer like me, insurance is almost always an issue. Who will settle your statements if you have a grave accident or a serious disease? You invest in health and disability protection for the same reasoning you invest in other types of insurance, to safeguard yourself financially. With disability insurance, you cover yourself and your family in case you need medical attention that could be very costly. You can’t project what your medical charges will be.

In a good calendar year, your expenses may be low. However, if you become sick, your statements could be very high. If you have disability insurance, many of your expenses are protected by a third-party, and not by you. A third-party payer can be an insurance firm or, in some situations, it can be your company.

Do you see the problem there? If you’re a freelancer, you don’t have an employer. You must avail of other means to pay for insurance. Besides that, you also need to file your own taxes, do some accounting and DIY everything that you need in your business and your daily work life.

I admit, I almost caved in when I discovered this ‘inconvenience’. I almost gave up this new independence and entered the corporate world again. But, i caught myself. Being with my baby physically and emotionally 24/7 is the best gift I ever gave myself. I also discovered that I love cooking for my family, and that’s something that I consider a ‘bonus’. No more daily fast food meals for them.