Disability Insurance

Best Disability Insurance companies for Nurses

Nurse Insurance
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Written by Brandon

Nurses are known for helping and caring for people, but there is a high level of risk here in this kind of occupation. In 2015, there was a publication based on injured health workers showing the various effects that can be derived in this profession, and what causes them. However, several efforts have been carried out to protect nurses from accidents.

Being a Nurse is one of the professions that is growing geometrically. Their educational requirements have also increased for the last few years. Most people in this profession are obtaining new advanced degrees. Furthermore, you have to invest in your educational pursuit to become a nurse. It is wise for nurses to protect their job against unforeseen illness or injury.

Reasons why Nurses should opt for disability insurance

This is a big question that requires an answer, and the right way to go about it is to get a disability insurance policy. A nurse without disability insurance might leads to loss of income or work. Several emergencies could occur, such as impaired vision, accident, illness, bone dislocation, and others. 

Disability insurance covers all this and keeps your mind at ease. For instance, one of the Nurses falls sick and unable to resume her work for two weeks. This illness won’t affect her mortgage or car payments. She won’t be forced to sell any of her valuable items to cover up for debt, because she has disability insurance.

In some hospitals, they might decide to do a group disability insurance policy for all the nurses. The truth must be revealed that individual disability policy has more benefits compared to the group disability plan. Your ability to be insured in this group plan must be either you are a nurse in the company or a member of the body that is sponsoring the group plan. One of the disadvantages of group plans is it can be altered at any point in time. This is where individual disability policy has an edge because it can stay for a longer period as long as you keep on paying premiums.

How medical specialty impacts disability insurance rates

When we say premiums, your area of specialization in the nursing world shows how much you are going to pay for all your disability coverage. Insurance firms do group jobs into a particular class, depending on risk. All these classes consider the work hazards and the difficult task of resuming work after being disabled. Another factor is the claim experience that is associated with other related professions. Insurance firms have a way to group all these classes of occupations.

Generally, the higher the number of classification, the lower the rate value available from the insurance firm. We have different areas of medicine, and nurses are usually certified within those core areas. This makes it hard for any disability insurance firm to group the profession into different risk classes. As a result of this, the premium rates charged to nurses vary from each other. 

Do Nurses Need Disability Insurance?

Nursing careers require a considerable amount of money to gain entry. Apart from this, time must be invested to get the knowledge needed to forge ahead and become successful. The cost of becoming a nurse depends on the pathway you are taking, but one thing to be certain about is your license and educational fees could be up to six figures. 

A career nurse makes a lot of money. Statistics carried out in 2016, shows the average payment of registered nurses was $68,450. While nurses with advanced knowledge obtain a median pay of $107,460, and all these factors have proved it why it is mandatory to have a disability insurance plan as a nurse. 

Common Nursing Eventualities

Current estimation shows that different nurses such as registered, assistant, and others suffer 35,000 significant injuries every year. There are also minor injuries nurses can get while on duty, such as infections, chemical reactions, musculoskeletal injuries, patient violence, sharp object injuries, and others. We are going to see only two of them:

1. Musculoskeletal disorders: 

A body known as the American Nurses Association shows that nursing professionals tend to have musculoskeletal disorders. This accounts for one in every four people unable to work, based on this injury. The musculoskeletal system controls the entire bones and also muscles in the body that is responsible for movement. A minute problem within this area can make you physically disabled; 

This type of injury results from lifting an object, transferring patients into an ambulance or ward. A rough estimation indicates a nurse that is having an 8 hours shift will lift a total weight of 1.8 tons. Commonly, most nurses work three 12-hour shifts every seven days. This means they are carrying a total weight of seven tons every week.

In 2011, in the U.S., hospitals recorded 16,680 cases of workers staying away from their job due to this injury-related with patients’ interactions; auxiliary nurses and nurses are among all these reported cases that occurred. Another survey that collected data from 2013 – 2016 shows 42% of nurses who revealed their primary duty was to lift or reposition heavy objects. This alone can affect the spinal cord and leads to muscles related issues.

2. Patient Violence:      

 Nurses do get harassed by patients. In the early quarter of 2017, an anonymous fellow shared his or her encounter with a violent patient. One of them revealed how they shared verbal abuse, injuries, and physical assault on them from a patient they were trying to treat. The U.S. department that is responsible for Health and Human Services also disclosed that 154 injuries took place among 10,000 workers in Government hospitals.

 Disability Insurance Companies for Nurses

The following is a list of Disability Insurance Companies for nurses: 

  • Guardian Life.
  • Assurity.
  • MassMutual.
  • Mutual of Omaha.
  • Ohio National.
  • Principal Financial Group.
  • Ameritas. 
  • Illinois Mutual.
  • Boston Mutual.
  • Ohio National.

Conclusion

Disability insurance policy for nurses is unique because there are different categories of this occupation to secure their jobs, income, and premium benefits. It also makes them know and understand any insurance coverage they want to embark.            

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