James Parl Blog

  Introduction Self-employment offers the freedom to chart your own career path, set your own hours, and pursue your entrepreneurial dreams. However, it also comes with unique financial challenges, such as unpredictable income, lack of employer-provided benefits, and potential business-related liabilities. This article explores the importance of term insurance for self-employed individuals, its benefits, types, and key considerations when choosing a plan, tailored specifically for those who run their own businesses or work as freelancers. What is Term Insurance? Term insurance is a straightforward type of life insurance that provides coverage for a specific period, known as the policy term. If the policyholder passes away during this period, the designated beneficiaries receive a death benefit, which is a lump sum or regular payments to help cover financial needs. For self-employed individuals, this affordability and simplicity make term insurance an ideal choice to safeguar...

Introduction For self-employed individuals, financial security is a top priority, especially when income can be unpredictable. Term insurance for self-employed professionals offers a critical safety net, ensuring that your family or business remains financially stable in the event of your untimely death. This guide explores the importance of term insurance, its benefits, and how to choose the right plan tailored to the unique needs of freelancers, consultants, and small business owners. What is Term Insurance for Self-Employed? Term insurance is a type of life insurance that provides coverage for a specific period, known as the policy term. If the policyholder passes away during this period, the designated beneficiary receives a death benefit. For self-employed individuals, term insurance is essential because it protects against the financial risks associated with being the primary income source for your family or business. The payout can cover debts, living expenses, or busines...