Chiropractor Disability Programs
From a disability insurance underwriting perspective, certain occupations require more consideration and finesse than others. One such profession is that of the chiropractor, not as risky as an offshore oil rig worker, but definitely more concerning to disability carriers than an accountant or even other medical specialists. But why? Why are chiropractors difficult prospects and frequently declined by insurance companies? And why do agents and advisors have problems finding them reputable sources of income protection?
Most insurers admonish chiropractors as high-risk disability clients. They have for decades. The profession has always held a notoriety of heavy claims, and insurance companies are just not in business to write risks that have a history of losing money.
What are the reasons for such infamous levels of chiropractor disability claims? Chiropractic practitioners are well educated with years of accreditation, which is always a positive in the eyes of an insurance underwriter. But the physical nature of their occupation, over time, leads to the early degeneration of their bodies, more so than most medical doctors. Practicing as a chiropractor takes more physicality than most medical professions or office jobs, and as the neck and back become enflamed and as joints age and weaken, a chiropractor has more difficulty performing the duties of his/her occupation.
Traditional underwriting of disability insurance leans to being conservative, thus the obvious prejudice against the chiropractor market. Few carriers are willing to offer the occupation any disability income insurance, and those that will chance it severely limit the benefits available.
Petersen International Underwriters offers a wide range of coverage options for chiropractors including personal disability insurance, business overhead coverage, business loan indemnification, key person cover and buy/sell insurance.
Chiropractors are highly trained professionals who require adequate disability insurance like any other prospect working in a physically demanding environment. Petersen International can help you provide your chiropractor clients with proper income protection.
Call us today at (800)345-8816 to learn more about our comprehensive line of benefits for the chiropractor market.