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clock iconPosted Tuesday, 17 July 2018

Insurance for Reiki Practitioners: 5 Tips to Save you Money

By Lawrence Taylor Ellyard

When you open a business, it is important to know that you are covered in the case of a future problem. This helps you press forward with confidence in your natural healing work. 

Insurance for Reiki practitioners is an incredibly important part of becoming a professional, but it doesn't have to be expensive. 

 

Click here to learn everything you need to know about Reiki with  our Training  eBook; "Reiki: 200 Q&A for Beginners" 

 

Here are 5 ways to save money on your insurance. 

 

Get Insurance Early, Even When You are In Training! 

Don't wait until you already need to make a claim to get the insurance you need; by getting insurance while you are still getting certified in Reiki and other natural therapies, you will be better prepared for starting your own practice.

This can be an expensive process if you go it alone, but certain professional memberships, including the IICT, allow you to join while you're a student and start purchasing low-cost insurance even before you begin practicing.

One way to make sure you have it organised early on is to include it in the Business Plan that you develop to help you focus on building your Business. This way, when it comes time to officially launch your business, you have one less thing to worry about. 

 

Pay Insurance Premiums at Once, Rather than Monthly

It is often very convenient to pay one's insurance premiums every month, resulting in smaller, more manageable bills. However, it is sometimes more economical to pay for an entire year because the insurance company will give you a small discount due to not having to process your payment over and over throughout the year.

One of the best money moves for Reiki practitioners is to pay a full year's insurance premium; then, place the equivalent of the monthly premium into a savings account each month. By the end of the year, you'll be ready for the yearly payment, and you'll have earned interest in your savings account all year. 

 

Buy Insurance with an Experienced Organisation

Finding your own insurance package and doing price comparisons is time-consuming and ultimately expensive.

Choose insurance through an organisation that has your best interests at heart, like IICT, so that you can take advantage of group-based discounts. After all, insurance companies like large accounts and are willing to offer discounts to get a group of premiums.

 

Choose Insurance that Covers All Your Modalities

Aon, for instance, covers over 1000+ modalities and because they work with tens of thousands of complementary therapy providers, they are experienced with the kinds of claims.

Insurance for Reiki practitioners may be available through other companies, but they often won't have the collective bargaining ability to get competitive rates for their customers, and they may not let you know that you are not getting a great deal.

Working with the largest insurer of complementary therapists, backed by the research of IICT into the best options available, allows you to ensure that your specific work is covered. 

 

Already Have Insurance? Make the Cancellation Process Prompt

If you've got an expensive policy from the past, you can join Aon through IICT's discount rate easily and online. There is no problem if you happen to carry two insurance plans, but if you want to save money, don't wait until your past plan is up for renewal.

Instead, contact your old insurer as soon as your Aon policy is in place to request a cancellation. Many organisations will refund your money for the time that hasn't yet elapsed in your plan, based on a prorated amount for the insurance you've not yet used. 


Saving money on insurance doesn't have to be a chore. It simply means being willing to do small things, like paying early, and make bigger choices, like working with a preferred insurer selected by a trusted professional organisation.

Discover more about joining the IICT here and discounted insurance options here

 

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Lawrence Taylor Ellyard

About the Author:

Lawrence Taylor Ellyard

Lawrence Taylor Ellyard is the CEO and Founder of the IICT with over 25 years experience in the natural health industry. Lawrence has been instrumental in developing the IICT's operations both within the Australia and Internationally.

https://www.lawrenceellyard.com/

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*The 'Every Therapist Covered' Guarantee is available within 120 days of purchasing a IICT membership for newly approved members with qualifications that meet our minimum training qualification requirements and match our current list of approved modalities with IICT's recommended insurance brokers. * Insurance policies advertised are available through our recommended insurance brokers Aon Risk Australia and is additional to membership fees advertised. Student Membership is $39pa + GST for a total price of $42.90; Full Membership is $179pa + GST for a total price of $196.90; Executive Membership is $199pa + GST for a total price of $218.90. All prices listed on this website are effective from July 1st 2018. Membership plans purchased and set duration prior to this date, are subject to the pricing set at the time of purchase. Membership plans purchased and set duration prior to this date, are subject to the pricing set at the time of purchase. All discount coupons are valid for ‘one time use’ and cannot be redeemed for subsequent membership renewals or when re-joining IICT after a membership plan has expired.