CRNA Disability Insurance
Oct 1, 2012
Jamie Fleischner

Jamie Fleischner

1 Oct, 2012

Disability Insurance for CRNA Certified Nurse Anesthetists

 

CRNA Nurse Anesthetists are familiar with the risks involved when working.  A simple injury or a sickness could prevent a nurse anesthetist to perform their job duties.

 

That’s where disability insurance comes in. Disability insurance is designed to pay a monthly benefit in the event you become too sick or injured to work.

 

Some CRNAs are affiliated with a hospital. If so, look for disability insurance discounts available through Set for Life. For women, these unisex rates can save you up to 55% on your premiums. If you ever leave your discounted employer, the discounted rates stay with you even if you increase your policy in the future. For men, the discounts are approximately 15%.

 

If you are independent, you may need to purchase your own individual disability policy. If you would like the benefits to be payable to you non taxable, be sure to pay the premiums from a personal checking account and do NOT deduct the premiums from your taxes. The advantage of carrying an individual disability policy is that it is portable and can go with you wherever your career takes you. There is no offsetting available amount because of a large group disability policy.

 

Many CRNAs consider their association plan. While the premiums may be less expensive when you are younger, they rise with age. Consider purchasing an individual policy that is non cancelable, guaranteed renewable. This locks in your rate until age 65 and disallows the company from ever modifying or changing your premium.

 

 

What CRNAs should look for in an individual disability insurance policy:

 

  • Own Occupation Definition of Disability. This definition states that if due to sickness or injury you can’t work in your occupation, you will receive your benefits. Additionally, there is no reduction in benefits if you decide to work in another occupation.
  • Increase options. This allows you to increase benefits in the future without going through any further medical underwriting.
  • Residual Rider. This pays a partial benefit if you have a partial loss of income.
  • Discounts. Set for Life Insurance has discounts available nationally for CRNA Nurse Anesthetists. These discounts range from 15-40% depending on your location and gender.
  • Non cancelable, guaranteed renewable. With this clause, your rates are guaranteed to age 65 and the company can never change or modify your contract.

 

For more information about disability insurance for CRNA Nurse Anesthetists, please contact the Set for Life Insurance office today to request a comprehensive quote comparison personalized just for you.

 

 

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Getting the right disability insurance can be downright confusing. At Set For Life, we’ll help you understand the options and work with you to select just the right product for you and your family. These articles will help you understand some of the complexities involved, but we’re happy to walk you through it! If you’re ready to get set, reach out for a quote today!