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Disability Insurance

3 Things You Need to Know About Disability Insurance for the Self-Employed

January 25, 2022

Have you ever dreamed of being your own boss? This dream of being self-employed is all well and good, but what happens when an unforeseen event casts a shadow over the responsibilities of everyday life? Like other Canadian workers, the self-employed are not sheltered from accidents or illness. Self-employed individuals do not have access to group insurance offered to employees in a company. This is when personal disability insurance must absolutely be considered before an unexpected event occurs. With this protection, self-employed workers will receive benefits in the event of a disability due to an illness or accident.

What is a self-employed worker?

As mentioned in the introduction, the self-employed work for themselves. There is no intermediary between them and their clients. This work arrangement provides a high degree of autonomy and flexibility. And self-employed people are responsible for their own business. It is their responsibility and it is in their best interest to obtain disability insurance so they can be prepared for any eventuality.

Did you know?

The self-employed now represent

nearly 16% of all employed Canadians 1

Here’s what you need to know about disability insurance for self-employed workers:

What is disability insurance for the self-employed?

Employees in a company can rely on group insurance from their employers. Self-employed workers, on the other hand, must purchase individual disability insurance to protect themselves in the event of a life hazard. This coverage will be available if the workers become disabled as a result of an accident or illness. It also gives them access to an income guarantee if they are unable to work. This type of insurance covers business expenses with business overhead expense coverage and provides income replacement. In short, disability insurance for self-employed workers helps mitigate the financial consequences of not being able to work.

This type of insurance has several advantages, including the following:

  • Monthly benefits are non-taxable if premiums are paid personally
  • Access to coverage at any time
  • Choice of waiting period*
  • Short-term or long-term coverage
  • Choice of coverage for self-employed workers’ business expenses
  • Protection adapted to their needs

Still have questions about the disability insurance offered by Matcha Insurance? Our financial security advisors are available to answer any questions you may have and to reassure you.

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Policy type

Because each profile is unique, Matcha Insurance advisors offer disability insurance based on several factors, including waiting periods, flat monthly fees and the amount of income to be paid. This à la carte plan is designed not only to meet the specific needs of the insured, but also to correspond to their reality.

What business overhead expense disability insurance allows

First of all, disability insurance for self-employed workers covers fixed costs, such as electricity/heating costs, rent, telephone or Internet charges, car expenses and banking costs through business overhead expense disability insurance. The more flat fees there are, the higher the premiums.


In conclusion, disability insurance should be part of the business plan of all individuals wishing to work for themselves. This is significant and essential coverage, especially since you can’t predict the future, and life is full of ups and downs.

*Waiting period: “This means that you must wait a specific number of days after you become disabled before you can receive benefits.”

1 Self-employed lead January Job Growth in Canada, The Globe & Mail 2015; The evolution of self-employment in Canada, The Fraser Institute, 2015


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