Direct answer
It depends on your average net monthly income after business expenses, as most carriers cap coverage at 60% to 70% of your verifiable take-home pay. You must also account for any existing personal savings that could serve as an emergency fund if your benefit payments are delayed.
Underwriting guidelines from top-rated disability insurance carriers regarding income verification for independent contractors. For additional information about how disability insurance underwriting works for different employment types, see the Insurance Information Institute‘s guide to disability income insurance.
What this means for you
It depends on your average net monthly income after business expenses, as most carriers cap coverage at 60% to 70% of your verifiable take-home pay. You must also account for any existing personal savings that could serve as an emergency fund if your benefit payments are delayed.
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This page is informational and not a coverage guarantee or quote.