Personal Injury Insurance for self-employed people

[Paula]

Hi all

I left the security of government a year ago and it has been great, but nothing comes without its cost.

I have been self employed for a year now and after today's crash (and my aging bodies aches and pains), I am reminded that I need to check into getting coverage if I become injured or really sick and can't work.

Does anyone have any insights/experience/knowledge in this area?

Thanks
Paula

[FairweatherMike]

Hi Paula -

Are you a member of a profession or a trade association? Or is the work you do related closely enough to a profession or trade that you can join an association? Often these organizations can get the best deals on insurance of all types for their members. And (check with Canada Revenue or a tax specialist on this) I believe that insurance dedicated to income replacement in the event of injury is a business expense recognized by CRA.

Years ago a lawyer buddy of mine had a near-crippling ski accident that blew his shoulder apart and accelerated his retirement plans. He had a superb disability policy that replaced his income in fine style. I recall being somewhat envious at the time - until I stopped for a second to think about what I'd have to endure to make a claim! (no thanks...)

Mike Skinner