Life is unpredictable, and disabling illnesses and injuries occur without warning. The odds of one affecting you may be higher than you think. Experts estimate over 25% of people in their 20s will experience a disability before retirement. In the event of a serious illness or injury, the financial impact could be significant, with the[…]
As a health care professional, your most valuable asset is your ability to earn a substantial living doing what you love. An unexpected illness or injury can easily jeopardize that capability, reinforcing the need for the right physician disability insurance policies and endorsements to protect your financial security. When deciding what coverage and insurance rider[…]
In 2019, the average amount disabled workers received from the Social Security Administration (SSA) was around $1,234, with no benefit adjustments based on previous income. If you became disabled tomorrow, could you afford your home, student loans, or other monthly expenses? Deciding to enroll in a disability insurance policy to protect your income isn’t difficult.[…]
Request A Quote Disability insurance and pre-existing conditions are common talking points among those looking for policies. Although health insurers cannot deny you coverage based on your health, the same protections don’t always apply to disability insurance. As a result, applicants applying for individual disability insurance will need to undergo medical underwriting in order to[…]
Long Term Disability Insurance is a product you hope to never use, and hope to never replace in the future. Many older attending physicians’ shop to replace their coverage with better benefits but do not qualify due to pre-existing conditions and health status. Shopping for disability insurance is not simple and should be purchased correctly the[…]
Why Do Residents and Fellows Need Disability Insurance? Long Term Disability Insurance is essential to any physician’s financial safety and security because your career income is by far your greatest asset. The process of becoming a doctor is rewarding in time but is an ultimate investment. You will train for years on a limited salary and[…]
Most physicians are offered long-term disability insurance through their group as a benefit that is employer-paid. This looks like a great offer considering you do not pay for it but that is not the case. What you may not realize is that group disability insurance is hard to collect on. Have you ever wondered why[…]
You most likely know that your health is a factor in determining whether or not you will be approved for disability insurance. Pre-existing health history could lead to modifications of your policy’s benefits including medical exclusions, removal of riders or a rating surcharge. What you may not realize is that your driving record may affect[…]
Physicians often fail to consider the possibility of an unexpected life event deeming you unable to work. The process of becoming a doctor is rewarding in time but is an ultimate investment. You will train away for years on a limited salary and some may struggle under the weight of student loans. The financial rewards[…]
This article was posted by TMA Insurance Trust. “If you get hurt or become too sick to work, what happens to your income?” It’s one of the first questions that Scott Dial, a disability-income expert who works with TMA Insurance Trust, asks medical residents and new physicians. For some people — 40 percent, to be[…]