When was the last time you found yourself wondering, “What ever happened to…?”
Here’s a list of famous people who retired early. Do you know what they have in common?
You might not think they have much in common with searching for disability insurance for nurses, but stick with me here for a minute…
- Hank Williams, Sr.
- Michael Zaslow
- Michael J. Fox
- Linda Ronstadt
- Alan Osmond
- Annette Funicello
According to Disabled World, all of these actors’ or singers’ careers were cut short due to a disability. Hank Williams, Sr. developed a drinking problem in part due to Spina bifada. Michael Zaslow’s soap opera career was cut short due to Lou Gehrig’s disease. Parkinson’s disease shortened Michael J. Fox and Linda Ronstadt’s careers. And MS ended the careers of both Alan Osmond and Annette Funicello.
Back-up Plan or Back-up Singer. Like the rest of us, you probably think your nursing career has a long future. What happens if you awake one day to discover you are no longer able to be a nurse? Is your back-up plan ready to go? Are you more likely to become a back-up singer for a famous artist than you are to have an immediate income stream following a disabling event? You need to consider this when looking for disability insurance for nurses,
Why is Disability Insurance For Nurses a Risky Business? You make your living dedicated to premium healthcare for others. You have a front row seat to both the before and after realities of illness and disease. Thinking you are immune from illness, disease or disabling events isn’t an option. In fact health care workers are among the top five group of employees at risk for on-the-job injuries according to data released by The Bureau of Labor Statistics in 2016 (See Table 2). Due to the inherent risks in nursing, it should come as no surprise that insurance companies typically charge higher premiums for disability insurance for RNs and all nurses. In fact, when shopping for the best disability insurance for nurses, you need to know that nurses typically risk-rate one to four levels above the average worker. The higher your rating, the more you pay for disability insurance (see ratings below).
Do you find it hard to believe that your occupation class is 2A, one occupation class above a high-risk construction worker? Traditionally, that means that you will have to pay 50% more in monthly premium than the typical office worker and why you need to be careful when searching for disability insurance for nurses. Let one of our licensed and highly trained coaches do the work for you by clicking here.
Don’t fret, there is some good news for those of you who do your homework when searching for disability insurance for nurses!
Less Expensive, New Disability Insurance for Nurses. A few insurance companies have entered the market with new disability insurance solutions for nurses, as well as other healthcare professionals that DO NOT consider your occupation class! Which means…..
You guessed it—lower prices!
First, let’s look at the typical rates you’ll typically find when you search for disability insurance for nurses quotes online:
Many companies will charge $93.96/month for a $3,000/month RN disability benefit.
Working with an unbiased Coach Pays Dividends ($500 Savings).
As independent disability insurance coaches, we have options that can save nurses at least 46%.
Because we represent multiple insurance companies, each with various short-term and long-term disability products, we can match your needs and budget to your lifestyle.
Some of our best disability policies for RNs are priced without an additional premium due to the nursing profession. That can save you almost $500 a year.
We can show you how to save 46%!
Know the Facts. Don’t Self-Diagnose. You’re familiar with patients who do a little internet research and are convinced they are now the expert. They self-diagnose, ask for certain prescriptions, and have found the not so perfect nutraceutical solution. Practicing medicine without knowledge or experience isn’t the best way to solve a problem. Likewise, as a nurse shopping for disability insurance for nurses, make sure you’re armed with credible and useful information. There’s more than one pain killer and antibiotic. There are a myriad of cancer treatments and cocktails for the nuances of an individual’s disease. The same is true for insurance. When it comes to investigating short-term and long-term disability benefits, talk with educated professionals with customized options.
Ratings are Over-Rated. As a nurse, you want to find an independent unbiased insurance coach who represents multiple disability insurance companies with multiple product offerings to help you choose the right disability insurance for nurses.
When you need pharmaceuticals, you don’t only consider one pharmaceutical company’s products. It’s the same with insurance. One of the product lines to consider is disability benefits that are not priced based on your occupation as a nurse.
But so many other factors can influence policy choices and pricing. The cost for disability benefits can increase depending on personal matters like smoking, weight and pre-existing conditions. Insurance representatives who are in contact with underwriters from multiple companies will know which companies and products are best suited for your particular circumstances.
Selecting a Specialist. You don’t go to a cardiologist when you need a podiatrist. And, you do your research before selecting a care provider. Finding the right disability benefits coach for you also involves a little analysis.
- Negotiating Price. Ratings and underwriters play the biggest role in getting the best disability insurance for nurses. Make sure you find a disability insurance coach who represents multiple companies, so you get the best price and the right product. Licensed insurance coaches, who have experience negotiating with underwriters, can prove they are worth their weight in gold.
- Not all Policies are Alike. Don’t purchase disability insurance like you shop for an auto loan. The legalese in policy language and the benefit options available vary significantly. Items like the definition of partially disabled, temporarily disabled, cancelable and non-cancelable and what income you’re replacing are important. You need to work with a licensed coach who specializes in Disability Insurance, connect with a coach today.
A very narrow definition of disabled may not serve your needs. Does the policy consider your ability to work as a nurse, or your ability to work in general? Waiting periods before coverage begins is also a consideration, along with pregnancy benefits.
Make sure you work with an agent that has experience getting disability coverage for nurses.
- Disability Insurance For Nurses Types. You may be looking for short-term disability insurance for a period of anywhere from three months to three years. Or, maybe you want to consider long-term disability insurance in case of a permanent debilitating condition. Remember, only three options are available to you when the unexpected accident or illness occurs.There are also supplemental disability insurance policies that may pay in addition to workers’ compensation benefits and an employer’s disability insurance benefit. Make sure your independent disability coach asks a lot of questions. You know all about new patient forms. Well little details are important in determining the right disability products too.
- On-Line Nurse Disability Insurance Quotes. On-line quotes are a beneficial place to start. However, you want to make sure a person is representing your personal interests and not the carriers.And since captive agents, who can only represent one carrier cannot tell you about other carriers options, avoid them at all costs.Example: When you call State Farm for a disability insurance quote, they can’t quote Mass Mutual’s or Mutual of Omaha disability insurance rates. An independent, licensed disability insurance coach is allowed to quote you all of the carriers rates.Bottom line want to be smart about how you go about getting nurse disability insurance quotes online.Our coaches also use the on-line quoting system to start the process, not to immediately commit you to anything, we use it to shop the marketplace for you. We want to make sure we have the information we need to ensure we can provide great service, the right policy and the best rates.
Preliminary Steps When Searching for Disability Insurance For Nurses. Do you like to start your investigation on-line or by phone? We’re set up for either.
You can provide us a tad bit of preliminary information on-line, or we can start with a telephone conversation. Either way, rest assured there is a real live experienced disability insurance coach ready to walk with you through the process of determining your disability insurance needs, and finding the right disability benefits for you. Finally, don’t worry about committing too early, it is against the law to purchase disability insurance during the application or quoting process.
Here’s to a Successful Career and Good Health. We hope your nursing career will be as successful as Annette Funicello’s and Linda Rostandt’s. In addition, we hope you are the one who determines when you will retire.
It Pays to Be Prepared. Even the most successful among us needs a great back-up plan and a good coach. Knowledge, research, planning and prevention are keys to your success. To learn more about your back-up options and protecting your income with the best long-term and short-term nursing disability benefits, call us today or fill out the quick online form.
Explore options that can save you as much as $500 a year now!