As someone interested in learning about different professions and their industries, I became curious about Registered Massage Therapists (RMTs) when my nephew became one. The economic outlook for this profession is positive, and RMTs provide a valuable, satisfying service. However, I also learned that RMTs face a clear risk of repetitive strain injury (RSI) or occupational overuse syndrome (OOS) due to the physical nature of their work– compounded by the long hours spent standing and the reliance on muscle power to relieve clients. Shockingly, the career life expectancy for RMTs is only 5 to 8 years on average. While many RMTs have long careers, this is still a genuine concern for those in the industry.
Many articles have been written on the proper mechanics and stress reduction techniques for RMTs to help reduce the risk of injury and extend their careers. However, I want to focus on reducing the financial risk of suffering from an injury. It enables you to get the medical care you need, allowing you to get back to helping your clients as quickly as possible. Disability insurance, or income replacement products, can provide financial support to cover expenses when an injury occurs. However, it’s important to note that not all policies are the same. RMTs must pay special attention to the soft tissue injury coverage, waiting periods, and benefit amounts each insurer offers. Coverage for soft tissue can be minimal, waiting periods are too long, making the coverage pointless, and benefit amounts are based on income, making it a challenge for new RMTs or those with variability in their income.
While I do have access to products that will address these concerns, there is one particular insurance product that I want to highlight, and that is Universal Loan Insurance, which helps RMTs make full or partial monthly payments on all eligible loans in the event of a disability caused by illness or accident. Unlike other disability insurance products, this coverage is not based on income, making it an excellent option for new RMTs or those with variable income. It provides:
One single contract for all your loans including clinic fees; Monthly, non-taxable benefits up to $8,000; Benefits are not integrated and are paid directly to the insured. In other words, we do not care what coverage you currently have; we will pay you. And it will not impact payments from other insurance companies; Coverage can be transferred from loan to loan throughout the life of the contract (some loans may end and others may be added); Rent for the primary residence is considered an eligible loan; For all types of workers, including employees, business owners and self-employed workers.
There is no other product like this, and it can significantly enhance or be the foundation for a financial security plan. If you are interested, please message me or go to my website to book a virtual appointment.
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