A Close Protection Agent has countless tasks that he or she must tend to in order to ensure that the VIP/principal remains secure. Surprisingly, a fair number of agents (mostly independent contractors) operate with minimal to no health insurance coverage nor disability coverage. For the agent that gets injured on the job, hopefully his or employer's Workman's Compensation coverage will foot the necessary medical bills and living stipends until the agent recovers. Unfortunately getting injured away from the job can also lead to several financial and health pitfalls.
Must Have #1 Health Insurance - Even if one rarely gets sick, is in the spring of life, feels invincible, all it takes is one rep on the power rack to wrong, a car accident, burning ones hand on ones own stove, medical aid will be required and this costs lots of money out of pocket with no medical plan.
Must Have # 2 Disability Insurance- Think of medical care as simply a band aid to remedy an ailment. Based on the medical plan one has, a portion of the costs of the procedures will be paid for by insurance. What if one's injuries will sideline him or her for 4- 6 months or longer, how does one get paid? Medical insurance won't cover it, auto insurance might, but even in a best case scenario one can't expect payment until at least a year or so after the fact.
Disability insurance exists for the purpose of having a source of income in case the individual is harmed and is not fit for duty. Though premiums can be high based on the amount of coverage desired, one has to look at their long term earning potential and evaluate the dangers of being sidelined indefinitely.
Must Have # 3 For the sole proprietor, having general liability insurance is key in case one should ever be found negligent in execution of ones services. Refer to an attorney or accountant in regards to how best one should structure their firm.
So to the protective agents - before you protect your clients; protect yourselves first.
