Disability Insurance

A self-employed person is more likely to find coverage for serious injuries by purchasing an individual insurance plan [BusinessWeek.com, 5/16/07] that includes both medical and disability insurance. However, there are a couple of wrinkles your members could face trying to get disability insurance.

One is that both disability insurance and health insurance normally exclude work-related injuries and illnesses under the assumption those problems will be covered by workers' comp. "If a self-employed person was using this coverage for work injuries and illnesses, that exclusion would need to be removed, which will increase their cost," Klein says.