Home > Lifestyle > Health and your money > Disability insurance Updated 28 January 2014 The realities of disability Almost 2 million self-employed and commission workers in South Africa are dangerously under-insured when it comes to disability, according to an independent survey. 0 Shutterstock Quiz Are you practical? » Ask CyberShrink » Subscribe General Newsletter » Like Health24 on Facebook » For love or the money, what really rules our hearts? The story of money Almost 2 million self-employed and commission workers in South Africa are dangerously under-insured when it comes to disability, according to a recent independent survey from True South Actuaries in Cape Town. Brad Toerien, CEO of FMI, says this shortfall is “truly alarming given that any kind of accident or serious illness can radically disrupt cash flow for self-employed people and cause a major life crisis if the proper cover is not in place.”Too many self-employed people, according to Toerien, simply assume that disability “cannot happen to me” and also do not appreciate that a temporarily disabling event like a broken arm or serious flu can have significant financial consequences. He urges every person who does not have the benefit of substantial company cover for disability or illness to urgently re-assess what would happen if their income was suddenly cut off. How long could they survive without that income? What would happen to their business or their family without their income?Toerien particularly advises self-employed people to take out cover against temporary disability, “These policies are designed to kick in really quickly on a wide range of disabling events and deliver immediate support, whereas permanent disability claims can take a long time to be confirmed and paid out.”He also cautions against relying solely on big lump sum pay-outs for permanent disability, “Such pay-outs are seductive in theory but often come short in reality and place enormous pressure on the individual to make major investment decisions”.In Toerien’s view, a policy which provides temporary and permanent income protection (with guaranteed monthly payments and a once off lump sum) is the best way to ensure real peace of mind and proper income protection.Press release, Danté Piras, Ogilvy (Picture: lady on crutches from Shutterstock) NEXT ON HEALTH24X Giving up one food will help your health – and the planet 2020-01-15 14:39 More: Health and your moneyDisability insurance advertisement Read Health24’s Comments Policy Comment on this story 0 comments Comments have been closed for this article. Logout Comment 0 characters remaining Share on Facebook Loading comments... Live healthier Lifestyle » E-cigarettes: Here are five things to know E-cigarettes have become hugely popular in the past decade, but a rash of vaping-linked deaths and illnesses in the US is feeding caution about a product that's already banned in some places. Allergy » Ditch the itch: Researchers find new drug to fight hives A new drug works by targeting an immune system antibody called immunoglobulin E, which is responsible for the allergic reaction that causes hives.