One of the main issues for independent contractors is the lack of protection from injury while "on the job." Workers compensation is an important benefit provided to most w-2 employees who work for US based companies. There is one exception, if you are an independent contractor, specifically a Realtor working independently or working for any of the major Real Estate Brokerage firms you lack important coverage for injury sustained while "on the job".
Consider that any sustained injury, no matter how minor, could devastate your earnings capability, not to mention the impact of the cost in treating the injury. Statistically speaking, 25% of all medical claims are due to accidental injury . Whether "on or off the job" a global view of economic impact of injury or illness in real terms shows that 51% of all bankruptcy is attributable to medical claims. Therefore, one must conclude that "on the job" injuries represent a substantial contributing factor in the cause of bankruptcy. Given the fact that, as an industry, the Realtor market is one of the most underinsured groups in the US. They are "at risk" both individually and collectively.
This is not necessary, plans are now available for Realtors that cover them while "on the job" for accidental injury that are "look alikes" to traditional workers compensation programs. Also, known as Realtors Occupational Accident insurance, benefits are there to cover accidental dealth and dismemberment, survivor benefits, medical claims and offer both temporary (up to 100 days) and permanent ( to age 65) disability income. Prices range from $30 to $36 per month, a small price to pay for this important protection "while on the job". Sold as group voluntary product both small group (1 person) and large group (no limit) have the opportunity to obtain this valuable coverage.
Don't take the risk, protect your health and your income from "on the job" injury.
For more info email me at bhusson@verizon.net.
Comments (0)Subscribe to CommentsComment