One of the issues we need to consider as business owners is how to bring in money when we are sick and incapacitated in some way.
In South Africa, many employers provide insurance that allows you to be paid your salary/a portion of it while you're on medical leave. We also have an unemployment fund, from which one can claim during the time that they are incapacitated.
However, as small business owners, we don't have the luxury of an employer ensuring that you have benefits that include your medical aid (what we call health insurance) or your income protector, which makes out a regular payment to you for the duration of your illness.
We also have to consider how to ensure that we have a decent income if we become disabled, even if we manage to find a new way of working after a life-changing illness.
This is something that you need to do for yourself. The big question is, have you? If you were sick for two months or more, is your income going to be affected? Before you run off, this is not a sponsored post and I'm not trying to sell you anything:-)
It's just that several things have gotten me thinking about the issue:
Michael Di Gesu talking about how important vision is to him, and what a blessing it is . He made me wonder what I would do if, down the line, I could not see or had eye trouble. I would definitely learn braille, so I do not lose my ability to read and write, but what would I do for money during that long transition period? What would you do?
I have ulcer and there was a time some years ago when I couldn't work much because of the pain and the meds making me sleepy. The inexplicable stabbing pain on my hand last month also scared me. A few friends suggested that the pain was possibly caused by stress due to the repetitive use of my hands and not having a good desk and chair that balance me properly while I work.
I went and fixed the desk and chair issue, rest my hands a lot more often and push comes to shove, I could use voice-activated software, which is already installed in my computers. However, what would I do for money during this transition period? Right now the voice-activated software doesn't understand my South African accent, so it would take ages before it's familiar enough for it to be of any use.
Caring for Mma has also affected my ability to earn income in the short-term. I don't work the same number of hours as before, I can't take the fast-paced copywriting assignments that I used to, rather going for long-term projects where I have adequate time to get the work done.
What I'm trying to say is, life happens. You don't know if you might have to pause your business for a while and you need to be prepared for that. You need to make sure that you will be able to pay all your bills and new expenses that may arise from your new life situation. An income protector can help you do that.
Are you currently insured in case of an illness? What would you do for money if you got sick and could no longer see/hear/use your hands?