When physicians reach out to me about disability policies, they always ask what types of disability policies are available.
There are two different types. But even though they’re both considered disability policies, one works in your favor and you may be forced to pay back your benefits with the other one.…
Employer long-term disability (LTD) coverage lures many young physicians into making a massive financial mistake.
Why?
Because employer LTD coverage is much cheaper than private speciality policies.…
Having a principal’s benefit update rider allows you to increase your coverage as your income grows. This is crucial because most trainees only get $5,000 a month in disability coverage, but specialists can get up to $30,000 per month.…
READ MOREUnlocking the best disability coverage for physicians in the nation is a simple process. But it does require your medical records and an underwriter.
While most physicians have no trouble with this process, it can take longer than expected for insurance companies to make sure you’re healthy-ish.…
We live in an uncertain and unpredictable world where one small mistake can cause untold decades of suffering. Becoming disabled, for example, threatens your ability to make a living, pay off your student loan debt, and provide for your family.…
READ MOREMany of my clients plan on moving to California after their residency. And so they ask if they should purchase disability insurance before moving.
My answer?
Absolutely! In fact, disability insurance costs 20-30% more in California compared to any of the 49 other states.…
As a specialist, you have worked hard to grow your practice. But you never know when an unforeseen circumstance might sneak up and destroy your income and way of life.
Navigating the ins-and-outs of own-occupation disability insurance is confusing and lethal — especially when you do a lot of procedures & clinic work.…
Good disability coverage could be the difference between financial security for life, and being broke and bound to a wheelchair.
There are between 70 and 75 disability insurance companies to choose from in the USA.…
If you became permanently disabled, would you be able to pay off your student loan debt?
The average student loan debt for a physician is $201,490. In other words, that’s $2,288 a month, paid every single month for the next 10 years.…
You already know that disability insurance is something you need to have as a medical professional. But as your income increases over time, you may wonder which option is the best for you.
To help you cut through the clutter, Billy takes a closer look at the top insurance plans for physicians in the market.…
