Self Employment Insurance

If you run your own business or control more than 40 of your corporation s voting shares this program can provide you with access to special benefits as early as 12 months after registering.

Self employment insurance. Public liability insurance for self employed workers. With business insurance you d be covered for legal fees plus any compensation needed to pay in the event of a claim by a customer or an employee. It s not an option. Marketplace savings are based on your estimated net income for the year you re getting coverage not last year s income.

Can cover the costs of any third party compensation claims made against your business. If you re self employed or thinking about going down that road it s important to consider your personal insurance options. Life other than gul accident critical illness hospital indemnity and disability plans are insured or administered by life insurance company of north america except in ny where insured plans are offered by cigna life insurance company of new york new york ny. As a self employed worker you need insurance that reflects your unique setup.

The affordable care act now allows a self employed health insurance deduction on premiums of 100 meaning that you can reduce your adjusted gross income by the total amount of health insurance premiums you pay in a calendar year. Employment insurance ei has a program designed for self employed people. You ll face a government penalty if you don t have health insurance this year. Self employment is based on a person s work or labour in the business.

Family members in the family enterprise if you are a family member i e. Self employment is an increasingly popular career move. But it s important to make sure that your business is protected. Group universal life gul insurance plans are insured by cglic.

First you absolutely need health insurance. This is because when you re self employed you don t have an employer to rely on for sickness cover or health insurance for example. With simply business you get to choose from a range of covers to build a single business insurance policy with a single premium a single renewal date and just the one set of documents. 2 but more importantly you re putting yourself and your family at great risk if actually when a medical emergency hits.

Self employment income and marketplace savings. Spouse or child paid as an employee by the family enterprise business or farm you are like any other worker and can be paid ei benefits as long as you meet the requirements for regular maternity and parental sickness or compassionate care. Business insurance can cover you for public liability employers liability and professional indemnity.