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By Root 4103 0

of disability, health-related issues, or life insurance claims, there are numerous other much less contributory risks (city dweller versus country resident, commuter via car versus commuter via mass transit, and so on) that make up your risk. Further, do not assume that your risk is limited to accident or injury. The risk from a disability that results from illness or infirmary is just as great. Heart attacks, strokes, nervous or mental health issues, as well as crippling diseases are the greatest risks to one's ability to earn an income. As a result, insurance companies offer insurance for disability because there is a probability that you will have a need for this service, and your type of job and other factors will be determining factors in what your monthly payment will be. For me, it's around $500 a year for disability insurance through my membership in a professional organization.

My disability insurance will cover my mortgage and most other household/living expenses in the event that I am disabled and can no longer work or can't work in my current profession. I can't tell you the number of times I walk down a sidewalk at night—especially during the winter when the leaves are off the trees—and get poked in the head by a tree twig. As a photographer, my fear is always that I'll lose an eye, and I panic that the twig that poked me in the cheek could have been two inches higher and poked me in the eye. I worry about an eye infection should I switch from glasses to contacts (which is why I don't wear contacts, since my vision correction is fairly slight), and I worry about other risks to my hands, knees, and mobility—all cornerstones of being a mobilized and active photographer. Although I have these worries, they don't overwhelm me because I know that should something go wrong, I will be protected and my family will, too.

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NOTE

In most states, the income from disability insurance is tax-free. Check with your accountant.

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Although disability insurance will provide you with income to pay your bills, it won't cover hospital bills if your disability is severe or if the amount exceeds health insurance coverage. In this instance, an adjunct to disability and health insurance is long-term care insurance. When you're talking to your life insurance specialist, ask him about this, too. For young, healthy individuals, it's a very minimal expense and could well save you from having to sell your home and all your assets before Medicare/Medicaid would kick in. Basically, before

Medicare/Medicaid kicks in, you must be essentially destitute. Although you'll ultimately be qualified for some kind of care at this point, the burden your family would fall under so that you could qualify for this government aid would be something that you, today, would be unwilling to subject your loved ones to.

Business Insurance: When Things Go Wrong, You Need to Be Covered

I can't conceive that it would be acceptable to operate a business without some level of business insurance, yet friends and colleagues do it all the time. I just think that's plain crazy. In fact, you won't be able to complete assignments that take place in many locations without insurance for reasons I'll go into later in this chapter, in the "Certificates of Insurance" section. You'll have problems obtaining loans, and the risk of you losing your entire business because of a lawsuit or a catastrophic loss of equipment, other assets, or data is just too great. Many photographer-specific policies are available that will cover your business. The following sections discuss the primary insurance types.

Camera Insurance

The most important tools to your business—equipment valued at tens of thousands of dollars—could disappear in an instant. From your trunk, from your shoulders in a bad neighborhood, from checked luggage—it could happen almost anywhere. Almost everyone knows of someone who's had a lens get stolen, "walk off," or just plain disappear. Many people know colleagues who've had all their gear stolen. All of these incidents would have been