Self-Employed Secrets to Hassle-Free Disability Insurance
Cost Considerations and Options
The cost of disability insurance varies based on several factors, including age, health, occupation, and the level of coverage desired. Typically, premiums can range from 1% to 3% of your annual income. It's crucial to shop around and compare different policies to find one that offers the best value for your specific situation3.
Many insurers offer discounts for healthy lifestyles, bundling policies, or paying premiums annually instead of monthly. Additionally, some professional associations provide group rates for their members, which can lead to significant savings. It's worth exploring these options to reduce your insurance costs while maintaining adequate coverage.