Health Victory

Blog

The Importance of Physician Disability Insurance

Those working in the medical field, such as resident and fellow physicians, physician assistants, and nurses, often worry about what will happen in the event they become gravely injured or seriously ill. Given that these medical professionals are responsible for caring for the health of patients, it seems unreasonable that they should have to worry about what will become of them in the event they need extensive medical care. Unfortunately, the disability insurance offered by most employers simply won’t cover the full extent of medical bills and lost wages in the event of a serious disability.

The Solution

Dedicated physician disability insurance providers offer a practical solution to this potential problem by carrying a diverse array of policies designed to meet each physician’s unique needs. They offer fixed and level pricing on individually owned and portable policies, specialty own occupation insurance for those who do not receive disability insurance through their employers, and discounts on flexible benefits that increase as doctors’ incomes increase. It can be difficult for those who are new to physician disability insurance to understand all of the options that are out there, though, so it’s a good idea for physicians to partner with an independent company that can help.

Get Protection Early

Resident and fellow physicians are typically covered by employer group long-term disability policies during their training, so not all of them bother to check out the advantages of taking out their own insurance policies prior to completing their education. This is a mistake, as it’s often possible to lock in much lower prices on individually-owned policies if doctors get an early start on obtaining insurance. Those who have not yet found a permanent position can rest assured fully portable policies are available that will follow them to new facilities as they move.

Benefits for Practicing Physicians

Those who are already practicing physicians still stand to benefit substantially from partnering with a disability insurance provider early in their careers. Insurance providers can draw up quotes based on a doctor’s current income level and any existing group policies already in place, helping physicians to save money while simultaneously providing them with advanced protection. Learn more online today to get started.