For the 2nd time this week, I had a CRNA call me with the same question. Each had a slightly different circumstance.
The first client, “Heather” is a CRNA in Boston and was interested in increasing her existing disability insurance policy and called with a few questions. Heather purchased an individual disability insurance policy when she graduated from her CRNA program in North Carolina back in 2010. When Heather purchased her policy she was newly married and healthy. Her policy was issued without any exclusions on the policy. Heather just received the letter from the company informing her of the need to submit updated financial information to see if she was eligible to increase her policy. Heather contacted me with some concerns.
Heather is currently getting fertility treatments and is not yet pregnant. Her income has substantially increased since she purchased her policy in 2010. She was concerned that if she were to get pregnant, would that be a covered condition?
The answer is “yes.” Since her policy was issued without any exclusions on the policy, pregnancy would be covered. However, it would need to cause her an inability to work as a CRNA, such as being on bedrest. Furthermore, since she was increasing her policy using the disability rider she put on the policy, she did not need to disclose any changes in her health or the fact that she was getting fertility treatment.
The 2nd call I received was from a CRNA client in Philadelphia. I’ll call her “Annie.” Annie purchased her policy two years ago when she started her new job working as a CRNA at a local hospital. She found out this week that at 9 weeks, she is going to be put on bedrest for a prolonged period of time. Annie was in a panic an not sure how they were going to be able to pay her bills. Annie’s policy does not have any exclusions on the policy and this condition would in fact be covered. I told her to keep track of the date of diagnosis and we sent her a claim form in case she is out for at least 90 days-the waiting period on her policy.
Most individual disability insurance policies will cover pregnancy just like any other medical condition. However, if you are pregnant at the time of application, chances are that an exclusion will be placed on the policy.
For more information about disability insurance for CRNAs, or to cover pregnancy, contact Set for Life Insurance today!