How does life insurance work for self-employed Nevadans?

Self-employed individuals in Nevada do not receive employer-sponsored life insurance, making individual policies essential to fill the gap. Without a group plan, you purchase coverage directly from an insurance carrier through an individual policy—and while this requires more initiative, it also offers more flexibility and portability.

Individual policies belong to you regardless of where you work. If your business evolves or you transition between self-employment and a traditional employer, the coverage continues uninterrupted as long as premiums are paid.

Self-employed individuals often have variable income, which can make fixed-premium term policies appealing for their predictability. Permanent policies with flexible premiums—such as universal life—may suit those with fluctuating cash flow who need more adaptability.

Health matters more for individual underwriting than it does in group plans, where acceptance is guaranteed. If you are in good health, applying for individual coverage while you can qualify is generally advantageous.

Income documentation for self-employed applicants varies by carrier. Some require two years of tax returns; others use bank statements or profit-and-loss statements. Agents in our network work with multiple A-rated (A.M. Best) carriers and can help identify which underwriting requirements best fit your situation.