If you’re a Certified Registered Nurse Anesthetist (CRNA), you understand the vital role you play in patient care. Your expertise in administering anesthesia and ensuring patient safety during surgery is crucial for successful medical procedures. But what happens if illness or injury prevents you from fulfilling this critical role?
This is where CRNA disability insurance comes in. It’s a financial safety net that protects your income if you become too sick or injured to work as a CRNA. Considering the significant income CRNAs typically earn, having this type of insurance can be the difference between maintaining financial stability and facing significant hardship during a disability.
Why Choose a Specialized CRNA Disability Insurance Policy?
While self-care is essential for any healthcare professional, even the healthiest CRNAs face unique on-the-job risks that a standard disability insurance policy might not adequately cover. The long hours, physically demanding nature of the job, and exposure to medications and anesthetics can all contribute to various health challenges.
One of the Most Health-Damaging Jobs
Did you know that Certified Registered Nurse Anesthetists have one of the highest risk for becoming disabled? In fact, CRNAs together with anesthesiologists and nurse anesthetists are among the most health-damaging jobs based on data from the U.S. Department of Labor’s Occupational Information Network (O*Net). This means that if you are a CRNA, there is an imminent risk of you being unable to go to work at some point in your career.
The list of health-damaging jobs was based on the analysis of exposure and risk to the following: disease and infection; radiation; hazardous conditions; minor burns, stings, cuts, and bites. Each risk factor had O*NET scores from 0 to 100 with a higher number indicating the higher health risk.
Exposure to the following health risks, with their corresponding O*NET scores, came out as the top concerns for CRNAs: disease and infections (94), contaminants (79) and radiation (71.8).
Exposure to these workplace health risks could lead to cancer, heart disease, and other illnesses that cause the majority of short and long-term disability. In fact, for CRNAs at or over the age of 40, your chances of experiencing a disability before you reach the age of 65 that lasts at least three months are 21% or approximately 1 in 5.
Those are long odds. Can you really afford to take a 1 in 5 chance that you will be unable to provide for your family? What will happen if you’re unable to earn an income during the recovery period from an injury or illness? Workers’ compensation only applies to injuries sustained on the job, but any of the diseases, illnesses, and injuries to which you are exposed or subject can come from outside the workplace just as easily as within the workplace. That’s why having CRNA disability insurance is so important. It will provide you with the protection other disability insurance policies won’t.
Other Types of Insurance Won’t Protect You
Although there are other types of insurance policies available to you, it’s rare that these provide the financial support a disability insurance policy does. You cannot count on your worker’s compensation, health insurance, auto insurance, or any other form of insurance to provide you with income in the case that you’re sick or injured and unable to work. Yes, your health insurance will pay for testing, doctor’s care, medications, and even hospitalization if necessary. Yes, that’s vital for your long-term recovery and well being. However, it does little to offset the financial pressure you’ll face if you’re unable to bring in your regular pay.
CRNA disability insurance can help you overcome these issues and provide you with the protection you deserve and the peace of mind you need while you’re recovering from your injuries.
Protect Your Income
Absolutely, Certified Registered Nurse Anesthetists (CRNAs) are vital members of the medical field, and their compensation reflects their expertise and the critical role they play. According to the Bureau of Labor Statistics: https://www.bls.gov/oes/current/occupation/29-1061.htm, CRNAs earn between $77,000 and $197,000 per year, with a median annual salary of $181,040 (as of May 2023). This translates to a salary range of between $6,416.67 and $16,416.67 per month.
Given this significant income, it’s understandable that CRNAs often have substantial monthly expenses. These might include a home mortgage payment, childcare or tuition costs, and student loan payments. CRNA disability insurance can serve as a financial safety net, providing a partial or total replacement of your income in the event you become disabled and are unable to work.
CRNA disability insurance is designed to provide you with a source of income to offset this loss and help ensure that you’re able to meet your financial obligations without draining your savings, or otherwise putting your family in dire financial straits.
Choosing Your CRNA Disability Insurance Provider
Interested in the benefits that CRNA disability insurance can offer, but not sure where to start? We can help. We have years of experience under our belt, and we’ve built strong relationships with the top-rated insurers in the insurance space within the United States.
In choosing the best disability insurance policy, you should consider the following major factors: type (short or long term), the key insurance benefits and cost of the policy. This may take up much of your time. It is to your advantage to choose a disability insurance provider that:
- Helps you review rates from the leading providers of individual disability insurance
- Provides quotations from all the major disability insurance carriers so you’ll have many quotes to compare
- Helps you learn more about the options available to protect your CRNA income
How CRNA Disability Insurance Rates Are Formed
Insurance companies group occupations into specific classes based on documented risk for a particular job. These classes look at the hazards of your job and the difficulty returning to work following a long or short-term disability.
Insurance companies typically classify professional occupations on a scale of 1 to 6 and many use the letter M to designate medical professions. Typically, the higher the numerical value of the classification, the lower the premium rate will be.
When you review disability insurance policies, it’s important to understand what medical specialty you are being classified as. The difference in rates can be substantial if you’re not classified appropriately, so make sure you understand how and where your job is classified.
We want to help ensure that you have the protection you need. Contact us today at 1-877-221-6198 or use the form on the right to request a quote. We’ll help you find the answers you need, and the financial stability you deserve.
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