Chiropractors perform a very important and highly valued public service. But what happens when a chiropractor is afflicted with debilitating pain themselves? How will they be able to maintain a living and stay afloat? As they make a $70,720 median pay (per the BLS), income protection should be a very high priority for chiropractors. A disabling illness or injury could throw your budget drastically out of sync, and that’s when you would want to seek disability benefits to recoup the lost income that you would have made had you been able to work.
If your chiropractic practice offers employee benefits and insurance for working there, then you won’t want to hesitate to take advantage of those benefits. Likewise, if your enterprise doesn’t offer any benefits, then you’ll want to seek your plan independently, whether through a licensed independent agent or by contacting providers directly.
When shopping around for the ideal insurance plan, you should look for:
Suppose you anticipate that an ailment will only temporarily put you out of work. In that case, you don’t want to wind up massively overpaying long after you would actually need the benefits. Conversely, you don’t want to pay for a plan that would only offer you benefits if you were incapable of working any job. “Own occupation” plans will offer you benefits if you’re unable to work as a chiropractor, irrespective of whether or not the disability would keep you from working any other job. Look for all of these things before purchasing any plan, and do the best research you can to verify its authenticity.
Disability Insurance For Chiropractors: Worth It? Absolutely. In the best-case scenario, disability insurance policies are absolutely worth it. Even a simple sprain that only warrants a short-term leave could make or break your budget if you don’t have a backup plan. You’ll have to wait to return to work, but bills, taxes, rent, and mortgages won’t wait.
Even missing a week of median pay could mean missing out on an extra $1,360. That alone could make or break paying your expenditures. Of course, we never want the worst-case scenarios to happen, but it’s crucial to have a backup plan implemented in case they do.
But what if that backup plan falls through, and your plan fails to offer the benefits you’re in desperate need of? What’s your backup plan then?
We’ve helped Chicago-area professionals recoup their losses and stay afloat through the most turbulent points in their careers. If you or someone you know is a chiropractor who was recently placed out of work but struggling to receive adequate income protection, we can help.
If you are struggling with a long-term disability claim, then contact us today to learn more about how a Chicago disability benefits attorney can help, and to schedule your consultation online.
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