What You Need to Know: Disability Insurance for Nurses

August 10, 2016admin

disability insurance for nurses

Did you know that when compared to other professions, nursing carries a higher risk of short- and long-term illness and injury? According to the Department of Labor, nurses suffer more than 35,000 injuries each year – and many of them miss work as a result. When these injuries result in a prolonged absence from work and an inability to perform duties for which a nurse has invested significant time, money, and effort, an entire additional set of problems can occur – income problems.

Financial Disaster for Nurses with Illnesses or Injuries

Consider for a moment what would happen to your household if you were suddenly unable to work as a nurse for weeks, months, or years.  Would you be able to maintain your current standard of living? Keep your car? Maintain your mortgage payments?  There is a solution that can prevent financial disaster should this scenario occur, but not nearly enough nurses embrace it – own-occupation disability insurance for nurses.

Wait – What about Workers’ Compensation?

Sure, workers’ compensation can cover part of your income if your injury or illness is work-related, but only after a few months of filling out paperwork, waiting on decisions, and proving the origination of your condition being due to your work. Assuming that all of this even works out in your favor, you need to keep something in mind: Almost 90% of disabling illnesses and accidents that occur in the United States are NOT work-related!

That being said, own-occupation disability insurance will cover you regardless of how or where an injury or illness occurred. In fact, it can cover up to 60% of your income and make all the difference when it comes to maintaining your current lifestyle and providing for your family. Almost half of all home foreclosures are caused by disability – this is a good indication of how serious this problem can be without the protection of the right insurance policy.

Own-Occupation Disability Insurance for Nurses

Nurses have careers that represent a significant life-long investment: education costs in the tens of thousands, fees for licensure and certifications, time away from family members for overtime work and continuing education courses, and purchasing everything from scrubs to stethoscopes to shoes, just to name a few. It’s critical that an investment as significant as a nursing career be protected with the right type of coverage – and not all coverage is equal.

Own-occupation disability insurance for nurses, as opposed to any-occupation coverage, offers the most protection because you are more likely to receive benefits upon injury or illness. If you have any-occupation coverage instead, you might be required to take a job that you can physically perform, even if it pays significantly less than your nursing income. With own-occupation coverage, you would receive payment if you could not perform your usual nursing duties – plain and simple.

Protect Yourself, Your Family, and Your Investment

With so much riding on you being able to continue to work as a nurse, can you afford not to have an own-occupation disability policy? You’ve spent thousands of dollars and years of your life training to do what you do best – isn’t your income worth protecting in the event that you become disabled, injured, or ill and cannot work for a period of time? In addition to sparing you and your family from financial ruin, you would also be sparing yourself and your loved ones from the stress, anxiety, and heartbreak that goes along with a significant lack or decrease in income.


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