Disability Insurance for Web Professionals is an essential piece of financial coverage in today’s modern world. As a web professional, you have invested a tremendous amount of time, money, and effort gaining the knowledge and skills you need to do your job. Why not protect everything you have accomplished so far?
As with other business owners in the web industry, you need to ask two simple questions when considering your financial security:
- “What will I do for income if I can
no longer do my job because of an illness or injury?”
- “How long could I and my family
maintain our current lifestyle if I couldn’t work?”
Disability Insurance For Web Professionals – Why Do I Need It?
- Disability Insurance for Web Professionals will enable you to continue paying for rent/mortgage, groceries, child care, tuition, entertainment, etc. while you aren’t able to work.
Critical Points To Remember As a Web Professional
- If you stop working, your main source of money will no longer come in. Disability Insurance for Web Professionals will greatly help you.
- You are unlikely to take on jobs outside of the IT/web industry during your recovery period. This can extend the disability period.
- IT and web-related work requires physical skills, especially with your hands. You are likely to be completely disabled versus partially disabled, which can also extend the disability period.
- IT and web professionals that participate in group disability insurance from an employer commonly find the cap on monthly benefits to be notably less than their regular income, impacting day-to-day cash flow in the event of illness or injury.
Special Considerations For Your Disability Insurance Policy
- Depending on your specific circumstances and specialty, additional provisions may be necessary to ensure your income is protected if you can’t work.
- The formal definition of Total Disability should be defined in your policy as “Own Occupation”. This means you will be considered disabled if you can’t perform your own occupation, IT/Web professional, versus any occupation. With this provision, you should be able to collect benefits as long as you can’t perform your IT/web-related occupation. This helps to ensure you maintain financial protection and security until you can do the exact job you specialize in rather than just be able to do any job available.
- The definition of Residual (or Partial) Disability should be “Loss of Income”. While more expensive than “Time & Duties”, Loss of Income ensures your benefit will make up the difference in your pre-disability income up to a set percentage (usually 80%-90%) until you can earn that amount on your own. It may take several months to rebuild a client base once you return to work, Loss of Income in necessary to cover your income until things begin to improve.
Depending on your specific circumstances and specialty, additional stipulations may be necessary to ensure your income is protected if you can’t work.
Disability Insurance for Web Professionals is key to have in order to fully protect yourself in your profession. To discuss your options and customize a policy, please call us at (800) 788-8921 or fill out our brief Contact Form to be contacted by an advisor directly.