Nurse Disability Insurance

Nurses make the medical world go ’round. They’re employed virtually everywhere, from hospitals to clinics to long-term care facilities, and they perform an incredibly wide range of duties in order to support positive health outcomes for patients.

Why Disability Insurance?

Nurses can earn an annual salary that ranges from $40,000 per year to $80,000 per year. That money plays a vital role in supporting your family and your quality of life. It’s used to pay for utilities, mortgage, rent, education and all other regular costs you may have. But what would happen if you were unable to work for several weeks, or even a couple of months? It could create serious financial problems. The good news is that nurse disability insurance can help.

What Nurse Disability Insurance Does

When you buy nurse disability insurance, you create a safety net in case you become disabled. Your nurse disability insurance policy will provide a steady flow of income per month as a replacement for the income you lose while being unable to work.

The Risks of Disability

Why do you need to consider nurse disability insurance? Simply put, you’re at risk of developing a disability that prevents you from being able to work. Back pain, heart disease, diabetes, stroke, and cancer are just a few of the conditions that might make it difficult or impossible for you to work for lengthy periods at a time. However, your financial obligations don’t go away just because you cannot work. Nurse disability insurance is designed to provide you with protection in these instances.

How Does Nurse Disability Insurance Work?

The situation with disability insurance isn’t hard to understand. You purchase a policy and then experience a disability. Once you’ve been out of work for the period of time specified in your policy, you begin receiving payments based on your average monthly income. These payments will last for a preset period of time and can be used for anything you need, whether that’s making a mortgage payment or paying your child’s tuition.

What Can We Help You Do?

When you turn to us for help with nurse disability insurance, we go to work on your behalf immediately. We have skilled professionals with years of experience in the area, so we can quickly help you find the coverage you need. With us, you can:

  • Review rates from some of the leading providers of individual disability insurance.
  • Get quotes from all major insurers in the US that currently offer insurance products in your specific geographic area.
  • Learn more about your options for nurse disability insurance and how it can benefit you in the event that you’re injured and unable to work.

Your Nurse Speciality Impacts Your Disability Insurance Rates

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.

Rate Chart

When you review disability insurance policies, it’s important to understand what medical specialty you are being classified as. If you are a nurse, is the insurance company classifying you as such or as the specialty you work in? The difference in rates can be substantial between the two so it’s important to be classified in the correct category.

Buy a Disability Insurance Policy While You’re Young

Buy a Nurse Disability Insurance

Disability insurance policies are priced based on the risk of you filing an insurance claim. The higher your risk, the more you’ll pay in premiums. One of the primary factors that contribute to higher risk is age since the older you are, the more likely you are to become disabled. You can save money in the long-term by purchasing coverage today because every year you age is more money you’ll be paying out each month or year in premiums.

If you do buy coverage when you’re starting out in practice, it’s also advisable to get a policy with a future purchase option, also sometimes referred to as a future increase option, a future insurability option, or a benefits update rider.

Look for Unisex Rates

In general, women pay higher disability insurance rates than men. A recent study has shown that women are more likely than men to develop a disability that prevents them from being able to work full time and as a result, the premiums calculated for women are higher than the ones for men.

For women, rheumatism and arthritis are the most common disabilities they encounter. Cancer, heart disease, mental health, and diabetes are also some other leading causes of disability in women.

Women have also reported that experiencing a disability would be “somewhat devastating” to their family’s finances. Many of the participants in the study said they worry that their cash reserves would last less than a month if they couldn’t work.

The Chance of Being Injured

Think that you’re not at risk of being injured and unable to work because you’re not in a high-risk industry for injuries? That’s not the case in reality. In fact, you’ll find that back injuries, cancer, heart disease, and other similar illnesses are responsible for most long-term disability cases in both men and women. Moreover, if you are older than 40, your chances of experiencing a disability prior to age 65 are 21%. That’s just a one in five chance – high odds to ignore. Buy a nurse disability insurance policy today and protect yourself from a potential loss of income.

The real challenge here is finding the right mixture of benefits and affordability. We can help you find the best solution for your needs and those of your family – we’ll guide you through the process, explain your options, and even help you compare insurance companies and disability insurance plans. Call us today at 1-877-221-6198 or use the form on this page to get in touch.

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