Disability Insurance for Chiropractors: Do you Need It?
Investing in chiropractor disability insurance protects you in the event of an accident that leaves you disabled.
Being unable to work, whether you’re a chiropractor or you work in any other healthcare role, or for that matter, any role, can have devastating consequences. You no longer receive a monthly income; you may have expensive medical bills to pay, and so on.
Purchasing disability insurance for chiropractors ensures you secure an income source if you do encounter a disabling accident. And while you may think it won’t happen to you, it’s always better to be prepared. It’s much more challenging and expensive to get the right insurance once an accident has taken place than before — plan ahead, even if you don’t think it will happen to you.
Current statistics show that a disabling accident occurs every one second in the United States. Furthermore, approximately 18.5% of Americans are currently living with a disability, and 1 in 4 people in the workplace will suffer a disabling injury before retirement. Those statistics may seem overwhelming and somewhat scary, but it’s the reality we live in. Now is the time to purchase insurance, just in case you need it later down the line.
Find out more about disability insurance and request a free quote.
What is chiropractor disability insurance?
Disability insurance, sometimes called DI or disability income insurance, is a type of income protection. If you happen to become disabled, you won’t be left without an income, unable to pay your medical bills, or unable to live month to month. It’s all about financial security and protection.
There are many types of disability insurance — some policies may be provided by an employer, or you may choose to purchase your own policy. Protecting your income is vital — it may seem like “it won’t happen to you,” but this kind of thinking is what catches people off guard, leaving them in a vulnerable and unfortunate position of no income or financial aid when they need it most.
Moreover, when you think of a disability, you likely think of a physical injury. However, there are also psychological disabilities, injuries, and other illnesses that cause impairment and inability to work. This is an important thing to note — you could experience another kind of psychological injury that causes a disability and prevents you from working.
Who is disability insurance for?
Many people think that disability insurance is for people who are already disabled. But this is not true! Disability insurance is a type of income protection — it is for people without a disability, providing you with a safety net and income to protect you from a worst-case scenario.
If you have a health condition that means you’re more likely to become disabled for whatever reason, the cost of disability insurance is likely going to be higher than others. So, it’s important to invest early, providing you with the best insurance premium.
The sooner you invest in insurance, the better price you’ll receive, even if you do become disabled later on. However, as already mentioned, if you’re already disabled or have a higher chance of becoming disabled, then the premiums will cost more. This is just something to take note of.
What profession needs disability insurance the most?
Professions at a higher risk of injury are more likely to need disability insurance. However, all employees/employers should consider investing. Besides, a disabling injury can occur from a number of accidents — it’s exactly that: an accident.
Disability insurance for chiropractors provides income protection, protecting everything you’ve worked for, providing financial aid for you and your family, and ensuring you’re not left with no income when you most need it.
As a chiropractor, you must be physically able to perform your job. If you suffer a disabling injury, you are likely to become unable to work — you require physical strength to do your job.
Disability insurance for chiropractors
If you’re a chiropractor, we highly recommend investing in disability insurance. This income protection insurance is crucial — protecting you when you need it most.
Don’t wait until it’s too late — it’s best to protect yourself, even if you think you’ll never suffer a disabling accident.
Find out more about the Professional Plans disability insurance.