They are their own bosses, owners of their decisions and, in many cases, of their time. But the toll that self-employed professionals have to pay to enjoy this independence is very high. Even more so in a culture where entrepreneurial initiatives still face far too many legal and bureaucratic obstacles. In this situation, insurance companies are helping to ensure that self-employed professionals can work with greater peace of mind.
They also get sick
The insurance world very much understands these professionals’ need for support and assistance. Especially when their professional activity is hit by illness or sick leave. Although it may seem that self-employed workers have a better immune system than employees, they also get sick and have accidents.
In the dry dock
For the first case, there are health insurance policies designed especially with them in mind, with coverage that includes diagnosis, hospitalization and care both nationally and internationally. In the case of temporary leave, the economic benefits they are paid depend on their Social Security contributions. Thus, if they have chosen to make lower contributions, the benefits for maternity or paternity leave, prolonged illness or occupational accidents are lower than those received by employed workers. For this reason, many self-employed people take out special insurance policies that give them access to extra income if they end up in ‘dry dock’
Being self-employed in the time of coronavirus
If these professionals already needed special support, now, with the coronavirus pandemic, this is even more important. In addition to the health situation that we all living through, they have the uncertainty of not knowing when they will be able to open their business again, the anguish of zero billing, and the obligation to continue meeting their tax obligations. For this reason, many insurers have decided to help make this difficult situation more bearable by deducting the days of the state of emergency from policies, extending the payment period of these policies, or splitting payments into more manageable instalments.
Great little suppliers
It so happens that many self-employed people have a very close relationship with insurance companies. Think of all the professionals who work in the field of home repairs, car workshops, crane operators, medical centers… all of them are suppliers of insurance companies. Consequently, some companies in the sector have offered to advance the billing of their services in view of the big slowdown in their activities. Many insurers are also providing free advice to the self-employed on the new economic and labor measures that have opened up as a result of COVID-19. The goal? To get these businesses up and running again!