As a physical therapist, you should be aware that any disability can cause major problems in your work, especially if it’s a physical injury. It can prevent you from working for a longer period of time and require extensive rehabilitation, so years could pass until you’re fully recovered and ready to work as you did before.
As a physical therapist, you are probably responsible for paying the lion’s share of your family’s monthly financial obligations. If that’s the case, it makes sense to protect that financial ability through physical therapist disability insurance.
What Is Physical Therapist Disability Insurance?
It’s important to understand the role that physical therapist disability insurance plays – it’s designed to provide you with financial coverage should you find yourself out of work due to an injury or illness, and unable to pay your bills.
Chances are that you do not have disability insurance through your employer which means you’re missing a vital form of protection. Your car insurance, your health insurance, or any other insurance coverage you currently have won’t provide you with the same financial support as your physical therapist disability insurance. All of this can be soled through physical therapist disability insurance.
Why Do I Need Physical Therapist Disability Insurance?
As a physical therapist, it’s likely that you earn between $51,000 and $88,000 per year or more. A great deal of that income probably goes to your house payment, school tuition, car payments, and the like. These financial obligations remain until they are fully paid, even if you find yourself sick or injured, and unable to work.
Sure, you have sick time and vacation time, but that will only help for a short period. Worker’s compensation will also not help, as most disabilities occur outside the workplace. That leaves you with little to no protection in the event that you’re not able to work for a period of time, while your bills pile up and your obligations go unmet.
A physical therapist disability insurance can help you cover some of these costs and let you focus on healing and recovering instead of worrying about how much debt you will accumulate during your disability.
What We Do For You
It’s not easy to choose the most suitable disability insurance policy that will protect your income should you become disabled by illness or injuries. Insurance companies offer different versions of disability insurance that they consider would be most attractive to their target consumers.
When you turn to us for help with physical therapist disability insurance, we go to work on your behalf immediately. We have years of experience in this area and skilled professionals working tirelessly, so we can quickly help you find the coverage you need to ensure your financial stability and peace of mind. With our help, you can:
- You’ll be able to review rates from the leading providers of individual disability insurance to make an informed comparison and a sound decision.
- We quote all the major disability insurance carriers, so you’ll have many quotes to compare to ensure that you’re getting the best possible coverage, at a rate that’s right for you.
- We’ll help you learn more about the options available to protect your income to ensure that you get the peace of mind and financial stability that you deserve.
How much coverage do you need?
The first step to finding out how much coverage you will need is to determine the minimum amount necessary for your living expenses monthly. Then, determine the other sources of your monthly income without your salary. Other sources of income could be your employer’s group disability insurance, your savings, etc.
The coverage of your disability insurance policy should be close to the difference between the monthly expenses and expected income. It’s the amount that should be replaced by the monthly benefit from your individual disability insurance.
How Your Work 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.
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 between, so it’s important to be classified in the correct category.
Buy a Disability Insurance Policy While You’re Young
Physical Therapist disability insurance policies are priced based on the risk of you filing an insurance claim. The higher your risk for filing a claim, the more you’ll pay. One of the primary factors that contribute to higher risk is age. Statistics show that the older you are the more likely you to become disabled.
You can buy a Physical Therapist Disability Insurance and protect your valuable income. Buying disability insurance earlier can save you money in the long-term. Each year you age is more money you’ll be paying out each month or year in premiums.
The Risk Of Injuries
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 fact, you’ll find that back injuries, cancer, heart disease, and other illnesses are actually responsible for most long-term disability cases in both men and women. If you’re near the age of 40, there’s a one in five chance that you’ll sustain a disability that lasts three weeks or longer before you reach the age of 65. That’s a frightening fact, but disability insurance can help you mitigate this risk.
We can help you find the right physical therapist disability insurance for your specific needs. Call us today 1-877-221-6198 or use the convenient contact form we’ve provided on this page to get in touch with us.