Just over one in five physiotherapists claimed on their income protection policies in 2018 which is significantly higher than the average amongst medical professions (1 in 7).
These key findings come from Omega Financial Management’s annual review of claims paid on their Day One Income Protection policy with DG Mutual.
Looking at the breakdown of illnesses and injuries, a key finding was that the rate of issues relating Muscle/Ligaments/Tissue category had doubled on the previous year to 22% of all claims. These kinds of issues can severely disrupt a practitioner’s ability to carry out their work.
Viral infections and gastro illnesses made up the largest category of illnesses – as a policy with no waiting period this is expected. What is notable within this category is that a number of these claims lasted for many weeks, with one running up to just under 7 weeks. The following chart shows the percentage share of each illness category:
As a mostly self-employed profession, the state sick leave payment of €203 per week is very limited and represents a fraction of the average living / professional costs faced by physiotherapists.
Looking at the gender split 72% of claims were lodged by women, 28% by men. The average age of a claimant was 40. 100% of claims were paid*
Here is a sample of the claims lodged in 2018:
*This relates to claims made in accordance with the policy – pre-existing conditions and excluded issues that are not covered are discussed and confirmed at the time of sign up.