can music students get disability insurance like medical students who get $4000/month for 7 to 10 years?
For an average music major student, he/she would have spent tens of thousands
of dollars by college or graduate school.
Examples:
(1) private lessons between from 1st grade to high school graduation
(2) instruments, plus maintenance/repairs/wear&tear
(3) transportation driving to/from lessons, auditions, competitions, etc
(4) 4 years of music school is easily over $100,000
(5) graduate school, another $60,000?
(even if part or all of the tution is paid for by grants/scholarships, someone
still paid for it)
(6) transportation to/from college for holidays, auditions, etc
(7) thousands of hours spend by the student and parents
I'm no CPA, but that's easily a quarter of million dollars spent. For a dedicated
music student, I suspect he/she doesn't possess any other training/skills for a
decent paying job, in the event of a career-ending disability. (technically, before
the career even begins) Even a minor disability such as the loss of use of a
hand means the end for a musical career.
That's why I started searching for disability insurance for music students.
What I found was shocking to me... There's almost nothing. Even at the top
10 music schools in this country. Sure, there are private plans that's sold
by insurance companies, but at astronomical costs.
By comparison, a medical school student can get cheap($200/year) or even
free disability insurance that pays $4000/month for 7 to 10 years.(or even longer)
Most are sponsored by medical schools and/or associations. Doctors depend on
their hands as much as music students, no?
One prime example is a large university with a famous music school AND a
famous medical school in the Midwest. (not going to name it, because that's
not what this thread is about) Music school students have nothing... while the
medical school students get $2000/month coverage that pays up to 7 years.
The plan is only a couple hundred bucks a year.
If anyone here(students, teachers, parents) have info on this subject, please
post it here...
Thanks in advance.
Interesting read: (substitute the word "medical student" with "music student" and it's still true)
http://www.doctordisability.com/blog/2012/11/why-medical-students-need-disability-insurance/
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