Affordable Insurance Rates For Self Employed

Written by Stephanie Dula
Bookmark and Share

Group insurance plans offered at workplaces are a major source of insurance coverage for many people. The need for life insurance still exists for the self-employed, and there are plenty of resources out there to help them find the most affordable rates. Unlike those who are eligible for insurance and retirement benefits provided by an employer, self-employed people must be able to provide these safeguards for themselves.

Since many self-employed people do not have the security of a consistent source of income, a term policy can affordably provide the peace of mind that life insurance coverage provides. Even if an individual acts as both business owner and sole employee, life insurance can be used to make sure beneficiaries are protected in the event of his or her death. Many self-employed people look to affordable term life insurance to cover the financial risk their deaths may have on survivors.

Life Insurance Coverage and Small Businesses

Business owners know that in many cases they must take certain measures to protect their investments. Many people purchase life insurance policies as a part of a plan for the long-term success of their businesses. Life insurance can be used to make sure that a business will continue to thrive in the event that the owner dies.

No one wants to leave his or her family with the tough task of having to manage what may be a massive debt incurred from starting and growing a small business. What if the family decides they need to sell the business and can find no buyers? Life insurance policies can sometimes be used to financially back a selling agreement among co-owners of a business.

Bookmark and Share