A good part of the insurance companies offer the self-employed the possibility of subscribing a policy for total temporary disability, which allows them to maintain their income during the time they are unable to carry out their professional activity. Given this scenario, it is not surprising that banks and insurance companies have turned their sights to the self-employed sector, offering them products specifically designed for them and their needs. With different coverages that are far from the more traditional insurance models.
Within this general context, this offer consists of two products, on the one hand the total temporary disability insurance, which allows keep your income in the periods in which they cannot carry out their activity. And on the other hand, health policies, which have extensive medical coverage and the guarantee of hospitalization in the event of any incident in this class of policy holders. It is, in general, very useful insurance for self-employed workers, which above all guarantees them a minimum income, in the event of illness or accident. With the additional advantage of providing tax improvements in their hiring.
One of these models is total temporary disability insurance, which allows the holder to maintain his income for as long as he is unable to carry out his professional activity. With this annual renewable insurance, it is the owner who decides the daily income he wishes to receive and whether or not he wants to franchise it in the coming years. With the possibility of pay the premium, either annually or in installments. In addition, you will be able to benefit from two guarantees, that of total temporary disability and that of hospitalization for any reason, among other relevant benefits.
Policies with sick leave
In any case, insurance for sick leave is one of the most widespread in the offer presented by both financial institutions and the insurance companies themselves. With formulas as innovative as, for example, those derived from providing them with a daily income for temporary disability. Where a scenario that can be generated as such is contemplated consequence of accident, childbirth or illness, among other incidents. On the contrary, it does not provide an extra premium for driving vehicles in any of its modalities.
It is a product that stands out above all because they have decided to include very special coverage for accidents that occur both in the development of their professional activity and in their daily life. While on the other hand, it is also necessary to emphasize that at this time this type of so specific insurance is marketed so that self-employed workers can collect from the first day the income that they would stop receiving during the period that they remain off, as long as it exceeds the three consecutive days. With the real possibility of fractioning without any surcharge as one of the most relevant incentives to be hired among this segment of the Spanish population.
Insured capital for the self-employed
Another of its most innovative variants is the one that has to do with its component, a coverage such as that destined to guarantee the payment to the beneficiaries of the capital insured by the holder. In this case, among the insured guarantees are the following that we expose below: death, death by accident, absolute and permanent disability for any cause, among some of the most relevant. While on the other hand, it must be emphasized that for insurances over 100.000 euros and people over 50 years of age, a completely free medical examination must be passed.
Another proposal for self-employed workers are the so-called comprehensive plans that are specially designed to compensate for the income that is lost in the event of sick leave. It can also be contracted to ensure employee sickness or accident leaves, and downplay the expenses that are generated, the self-employed receiving a fee. compensation for the time they are not working. In addition, with this model in the policies you can enjoy medical coverage, as well as the guarantee of hospitalization for any cause.
They have a daily compensation of around 25 euros that can be increased to 50 euros, from the first day. In addition, the policy holder will receive a supplementary compensation, if the withdrawal occurs as a result of an accident and its duration is greater than 30 days. Another proposal in this class of insurance products is to offer two policies in one. On the one hand, that of accidents, with an initial compensation plus a monthly income for 15 years in the event of death or total disability. And on the other, a sickness policy, with unlimited healthcare expenses. As a consequence, for cases of absolute professional disability, an initial compensation of 30.000 euros and a monthly income of 500 euros will be paid for just over five years.
For absolute professional disability
Another solution for this important segment of society is based on coverage for absolute professional disability, for any professional activity with a monthly income of 10 years and a annual revaluation around 2%. While on the other hand, other formats made by insurance companies are based on offering the self-employed an accident insurance for this professional segment, which covers death by accident, permanent and temporary disability or total or absolute disability . The main contribution of this proposal is that it is the owner himself who can choose the amount of capital, giving greater flexibility to contributions.
It is, in short, a very wide offer in the private insurance segment that is adapted to the needs of these workers. Beyond other considerations of a technical nature and perhaps also from the point of view of its fundamentals. In what is a solution to the problems that can be presented to these professionals. From different treatments and with diverse economic contribution in their annual premiums. So that in this way your protection is greater in different circumstances of your life.
Advantages in hiring
One of the aspects that must be valued more positively is that which has to do with the protection of self-employed workers. To the point of your coverage they will better covered before any kind of incidents or accidents. While on the other hand, they can contemplate the time in which they are without developing their professional activity. Through monthly installments that they can enjoy for a few months, although with a limited impact on the amount they receive at that time.
One of the objectives of any self-employed person is to protect themselves and in this sense this kind of so specific insurance satisfies these needs. With different formats and where each of them is not the same as the other. So that in this way, the most appropriate one can be chosen for each specific one. Also with small variations in regards to the price of these insurance products.
Optional coverage for the sector
The self-employed can contract as optional coverages some that are optional and that will require an extra outlay in the annual premium fee. In most cases, these coverages are aimed at the correct treatment of sick leave of self-employed workers. One of the most common is hospitalization of their headlines. Whereby, for this coverage the policy holder would receive an additional amount if, in case of illness or accident, he was admitted to a hospital for a minimum of 24 hours.
Another of the most relevant is the one related to the cessation of activity. In this case, if the insured person is self-employed and is contributing to the Self-Employed Social Security, Mutual, Montepío or similar institution as determined by law. Its effect will be none other than that in the end you will be guaranteed a monthly compensation for involuntary cessation of your activity. Very useful in situations where these people are unemployed or have to leave their professional activity for financial reasons.
30% of freelancers would raise their contribution
Practically one in three self-employed workers, 28,7%, would raise the contribution base to Social Security if the benefits to which they are entitled improved, according to the report "The self-employed worker before social security”Carried out by the National Federation of Associations of Self-Employed Workers, ATA for Fundación MAPFRE.
The study, the result of a survey of more than 1.800 self-employed workers, Its purpose is to analyze the approach of the self-employed to the social, public and complementary welfare systems, and to increase their financial and insurance knowledge so that they can make more informed decisions about their future.
The study reflects that 86% of the self-employed contribute by the minimum base, which in 2019 is set at 944,40 euros per month. Despite this figure, it should be noted how 37,9% of the group is predisposed to change and increase their contribution base, of which 28,7% indicate that they would do so if the benefits currently offered to the group improved.