Self-Insured Person Or EOOD

A person is self-insured if they choose to skip insurance coverage on those policies that aren’t required by law, such as a mortgage or car insurance. Generally, this is only a possibility for those who have enough savings to cover the cost of a major loss or accident. If a person skips insurance, they will be responsible for the full cost of any expenses that exceed their personal liability limits, as well as the potential for lost earnings.

It’s possible to self-insure on those policies that have high deductibles, like health and auto insurance. Having the ability to pay for care up to the deductible amount helps keep monthly premiums lower. However, it’s still important to maintain sufficient savings to cover a serious illness or injury because a single hospital stay can quickly wipe out an entire financial cushion.

In terms of life insurance, it’s never a good idea to skip the protection offered by a paid policy. Without one, dependents could struggle to pay their bills and sustain a quality of life as they’re used to.

Bulgaria offers a number of benefits to investors including a low minimum share capital requirement and a lack of restrictions on the nationality or residency of shareholders. It’s also relatively easy to register a new company in the country with no need for an annual general meeting if there is only one shareholder. Names must be unique and approved by the national registry before submitting a business application. самоосигуряващо се лице или ЕООД



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