This is a true story about a Set for Life client. The names and circumstances have been altered to protect anonymity.
Lisa was a talented Certified Registered Nurse Anesthetist (CRNA) in Raleigh, NC. She had dedicated years of hard work and determination to her profession, ensuring that patients undergoing surgeries received optimal care and comfort.
Lisa was referred to Set for Life by her colleagues to consider protecting her income with a disability policy. Set for Life Insurance had discounts at her hospital saving her significantly. They recommended an own occupation definition of disability meaning it would provide her monthly benefits if due to sickness or injury she couldn’t work as a CRNA even if she could work in another occupation.
One day, while assisting in a complex surgery, Lisa sustained a severe injury to her hand, rendering her unable to continue working as a CRNA. Devastated by the news, she knew that her career in the operating room had come to an abrupt end. Lisa immediately called our office to let us know. We advised her to file a claim right away. Her policy had a 90 day elimination period which meant at least 90 days needed to elapse before the first monthly claim check was paid.
Since Lisa’s policy was own occupation, her policy paid her the full monthly benefit since she could no longer work as a CRNA. We assured her that since it was own occupation, there would be no reduction in benefits if she decided to work in another occupation regardless of income earned.
Drawing upon her vast medical knowledge and experience, Lisa decided to pursue a role as a healthcare consultant. Her keen insights proved invaluable in helping hospitals streamline their processes, improve patient care, and optimize their overall performance. Through her new occupation, Lisa not only found a fulfilling career but also continued to contribute to the healthcare industry in a different capacity.
Lisa’s disability insurance benefits remained intact even as she transitioned to a new profession. The “own occupation” coverage provided her with the financial support she needed, allowing her to focus on building a successful career in healthcare consulting. She received both the monthly benefit from her policy as well as her income earned as a consultant.
Lesson for CRNAs looking to protect their income:
This story should serve as a powerful reminder of the importance of being prepared for life’s unexpected twists and turns. Her decision to invest in a disability insurance policy, coupled with the flexibility of the “own occupation” provision, not only helped her navigate a challenging time but also opened doors to new opportunities and personal growth.