Story at-a-glance
- Cheaper policies often cut key features that doctors need.
- Group and association plans look cheap but can change, end, or tax your benefit.
- Some low-cost individual plans cut corners on riders and definitions.
- Top carriers like Guardian, MassMutual, and Principal focus on strong, long-term coverage.
- The goal is not the cheapest plan but the right mix of cost and protection.
It’s tempting to save a few dollars on insurance — especially when you’re just starting out. But with disability insurance, cheaper doesn’t always mean better. In fact, it can sometimes mean weaker protection when you need it most.
Let’s break down what’s really behind those “lower rates.”
1. Group Disability Insurance: Cheap or Free, but Limited
If you get disability insurance through your employer, it’s usually very inexpensive — or even free. That sounds great… until you look closely.
Most group policies have big gaps:
- They don’t ever include a true own-occupation definition.
- Coverage often ends if you leave your employer.
- Many are taxable, which means your take-home benefit is smaller.
- And they cap and then offset monthly benefits, leaving higher-earning physicians way underinsured.
It’s better than nothing, but it’s not enough to protect a physician’s income.
2. Association-Sponsored Plans: Low Cost Now, High Cost Later
Many professional associations — like medical or dental organizations — offer their members group disability plans. The rates look amazing at first. But here’s the catch:
Those rates **increase every five years. ** What starts cheap in your 20s or 30s can become very expensive by your 40s and 50s — right when you’re most likely to need it.
And even worse, these plans are not guaranteed renewable. That means the association or insurer can change the terms, raise the rates, or even drop coverage altogether.
In short, they look affordable now but often become unaffordable — or unreliable — later.
3. Individual Policies: Long-Term Security and Custom Protection
A personally owned, individual policy is the gold standard for physicians and dentists. You control it, you keep it wherever you work, and the terms can’t be changed by your employer or an association.
But not all individual policies are equal. Some companies lower their prices by cutting corners:
- Narrower definitions of disability
- Fewer built-in riders
- Lower financial strength ratings
Sometimes a “cheap” individual policy is cheap for a reason.
4. The Big Three: Guardian, MassMutual, and Principal
Among the top-tier carriers, pricing differences are usually about specialty risk, not policy quality. For example, if one company sees orthopedic surgery as riskier than another does, their premiums might be higher — but the coverage isn’t necessarily better.
That’s why working with a broker who understands physician specialties is so important. We know how each company classifies your risk and which one gives you the best value for your specific field.
5. The Real Question: Is It Worth the Risk?
When a disability claim happens, you don’t want to wonder what’s covered. You want to know that your income — the engine of your financial life — is protected by a policy built for doctors.
Cutting corners to save a few dollars today can cost you everything later.
Bottom Line
Yes — in most cases, the cheaper policy means you’re giving up important features, flexibility, or guarantees. That doesn’t mean you should always buy the most expensive plan — it means you should buy the right one.
At DoctorDisability, we compare all the top carriers side by side so you can see the differences clearly — and choose the strongest protection for your specialty, budget, and goals.
Click below to request your free quotes and comparison.
We’ll help you find the right balance between cost and confidence.
Ready to protect your future?
Get a personalized side-by-side policy comparison of the leading disability insurance companies from an independent insurance broker.
