If you are self-employed, and looking for benefits, what should be your priorities and why?

Insurance Priorities for the Self-Employed family

For the self-employed family without a traditional benefit plan, what should be the priority sequence of coverage choices, as the income of the business and the family increases?

If you were an employee of a corporation, you would likely be provided a benefit plan that includes some levels of

• Life Insurance
• Disability Insurance
• Medical coverage (Health Spending Accounts & catastrophic medical coverage)
• Dental Coverage

With our Integrity planning process, there are ways to help us address all these areas, while maintaining your budget.

Many self-employed families are extremely budget conscious, and we tend to look at solutions for “what is hurting now”, seeking pieces of the benefit puzzle only as the need arises. This is a very dangerous way to go about the process.

What if we were to take out a dental plan only, and in six months, we become disabled?

Without income, will the dental plan replace the money the family needs to live on?

Will there in fact, even be money available to continue to pay the premium even for the dental coverage?

Without income, all the hard work we did to grow our business can be lost in a short time. Therefore, it is very important to look at the big picture at the outset! Discussing these areas with a qualified Insurance Planner is vital to protecting you and your family.

Insurance Planning must be done with integrity – that is completeness, honesty, and with your budget in mind! All issues must be addressed from the start, with several plans and insurers considered, and the most appropriate solutions examined.

Please contact us at 1-866-856-6799 (extension 201 for Craig, and 204 for Nanette) to discuss your needs further.

Craig Ferguson

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This entry was posted on Friday, September 25th, 2009 at 12:36 pm and is filed under Alberta, benecaid, benefits, Blue Cross, dental insurance, disability insurance, gms, life insurance, manulife, medical insurance Canada, Ontario. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.