There are multiple reasons CRNAs should purchase their own individual, private disability insurance as opposed to depending only on a group or association policy.
The number 1 reason? Fixed Rates.
If you purchase an individual disability policy that is noncancelable, guaranteed renewable, the company can never modify your contract or raise your rates.
Association policies are typically do not have locked in rates. We receive numerous phone calls from CRNAs around the country around their 45th or 50 birthdays. They have sticker shock when they receive their premium notice from their association policy that the premium has skyrocketed.
The problem is two fold. 1, rates are more expensive when you are 50. 2. To purchase an individual policy you must qualify medically. A lot of 45 or 50 year olds have health issues that can make it tough to qualify for benefits.
The most strategic thing to do is to apply for an individual private policy while you are young and healthy and can lock in the rate until age 65 or 67. Even better, lock in a permanent discounted rate, like those through Set for Life Insurance!