Five essential insurances for the self-employed

• The daily life of self-employed people is full of financial and health risks
• Having adequate insurance is essential to protect yourself against these risks and guarantee the continuity of your activity.

The daily life of self-employed people is full of financial and health risks. From unforeseen expenses to workplace accidents, self-employed workers face a number of challenges that can jeopardize both their business and personal well-being. Therefore, having adequate insurance is essential to protect yourself against these risks and guarantee the continuity of your activity.

Although some insurances are mandatory, depending on the type of activity and the collective agreement, there are others that are highly recommended for any self-employed person, regardless of their professional situation. These are the five essential insurances that every self-employed person should consider:

Life insurance

Provides financial coverage to family members in the event of death or disability. In addition, self-employed people can deduct this insurance on their income tax return, making it an even more attractive option.

Health insurance

Accessing medical care is crucial for any autonomous person. Therefore, health insurance provides access to a wide range of specialist doctors, tests and treatments, avoiding long waiting times for public healthcare. In addition, this insurance is also deductible in the income tax return.

Work accident insurance

For this type of insurance, it is not necessary to have employees in charge; work accident insurance can be vital to protect against temporary or permanent injuries or disabilities caused by accidents during the work day. This type of policy covers medical expenses and provides compensation in the event of disability.

sick leave insurance

This insurance covers sick leave caused by accidents, illnesses, maternity, paternity and other situations. Additionally, it provides financial protection during periods of temporary disability, ensuring that self-employed people can remain financially stable during difficult times.

Retirement insurance

Thinking about the future is essential for any self-employed person, which is why retirement insurance provides a long-term economic guarantee, complementing the pension they will receive according to the years of contributions.

In short, just as some insurance is mandatory for the self-employed, it is equally important to consider those that go beyond the business sphere and focus on protecting the life and health of the self-employed worker.