Can freelancers get long-term disability coverage?

Like many people, you might do freelance work. And whether your freelance jobs serve as your primary source of income, portfolio-building opportunity or retirement savings, you might wish you had employee benefits.

However, did you know you could get long-term disability (LTD) insurance as a freelancer? A low-cost policy could be helpful in the event of an injury or unexpected medical condition. And there are a variety of reasons why LTD might be of interest.

Three ways LTD can benefit freelancers

As you freelance, you might experience financial challenges as you wait to get paid or experience a temporary lapse in clients. However, in case of illness or injury, LTD could help provide continued:

  • Consistency. You probably traded a steady paycheck for the ability to choose which clients you want to work with and the freedom to set your own schedule. However, in so doing, you likely understand you will lose money if you need to take an extended period of time off work because of an illness or injury. Depending on your circumstances, LTD could help you continue to make a living.
  • Protection. Many people want to protect their assets. And although you worked long and hard for the things you currently own, it is crucial to protect your ability to earn an income in the future as well.
  • Self-sufficiency. If your freelance work is your main source of household income, a long-term disability policy could prevent you from having to ask friends and family members to support you if you lose your income.

When offering your services, you probably do not consider what would happen if you become unable to work. However, you might appreciate knowing there is a way you can create a backup plan in case of the unexpected.


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