Debilitating injuries and illnesses may happen at any phase in your career, including during an internship or immediately after graduation. With disability insurance for recently graduated veterinarians, you can protect your income during such situations. The insurance pays a portion of your salary, allowing you to focus on recovery. Here are a few reasons why you should prioritize disability insurance as a recently graduated veterinarian:
Cover Career-Related Risks
As a recently graduated veterinarian, you may go into an internship, work for a corporation, or start your practice. The job involves handling animals and traveling to meet clients in their homes, farms, or offices. Angry and anxious animals may scratch, bite, or kick you, resulting in injuries that keep you away from work. Illnesses resulting from exposure to animal biological matter or pathogens can also impact your work schedule.
Other vet-related issues include needle injuries and back pain or mental stress from overexertion. Frequent traveling also increases the chances of accidents. Starting a veterinary career comes with increased physical demands and mental stress. If you’re injured or ill during work, you won’t be able to earn income unless you have appropirate coverage.
Purchasing disability insurance for recently graduated veterinarians gives you access to income replacement during this time. With your salary covered, you can focus on recovery without financial hardship. This dedicated insurance plan is necessary because permanent injury at this time may leave you unable to work for a short time or the rest of your life. Having insurance protection allows you to meet your financial obligations even if you are unable to work. You may also get protection against injuries and illnesses that occur outside of work.
Protect Your Income
Disability insurance policies offer income replacement when you’re unable to work due to injury or illness. As a veterinarian, you’re more likely to get injured or ill from frequent dealings with sick and anxious animals. Without coverage, you wouldn’t be able to earn income until you return to work. Even if the illness or injury lasts a few weeks, you’ll still lose money and may struggle financially. Disability insurance prevents such strain by replacing a portion of the lost wages until you recover. If the disability is permanent, you’ll get benefits until your retirement age. Some policies even factor in projected raises and promotions, allowing you to receive sufficient benefits to cover financial obligations.
You can use the benefits to cover student loan debt, daily living expenses, and retirement planning. Some policies, such as own-occupation disability insurance, allow you to protect income from specific professions and positions. The policy allows you to work other jobs if you are unable to return to your original profession. You’ll still receive the benefits promised in your policy. The income replacement acts as a safety net, reducing financial hardships during this early period and throughout your career.
Secure Better Rates
Insurance policies often offer varying rates based on the calculated risk. As a recent graduate, you’re probably young and less prone to illness and injury. You may also have less exposure to career-related hazards that long-serving veterinarians have endured. Obtaining your disability insurance at this time allows you to secure better rates and lower premiums. Insurance companies offer such benefits to healthy individuals.
Attempting to get insurance later in your career may result in higher rates and premiums because the likelihood of injury and illness increases with age. Many policies also don’t cover preexisting medical issues, which you may develop as you get older. Securing your policy early allows you to receive benefits for future illnesses and injuries that prevent you from working. You can find non-cancelable and renewable policies, which prevent insurance providers from requiring a new medical underwriting for future health issues.
Early insurance may protect your benefits and rates from future medical issues. Some policies adjust your benefits based on expected income raises. As a veterinarian, your income potential increases over time, with specialization, reputation, and practice ownership. Losing your ability to work soon after graduation severely limits your lifetime earnings. Disability insurance prevents such unforeseen health challenges from derailing your long-term goals.
Find Disability Insurance for Recently Graduated Veterinarians
Securing disability insurance early has many benefits for your veterinary career and financial well-being. The benefits supplement other safety nets, such as workers’ compensation, allowing you to replace part of your income when you are unable to work. Get disability insurance for newly graduated veterinarians today to protect your financial future.
