Story at-a-glance
- Yes—many insurance companies offer exclusive discounts for residents and fellows.
- These discounts can reduce premiums by 10% to 30% and last for life.
- You can lock in rates early and still increase your benefit later as your income grows.
- Waiting until after training means losing access to these savings forever.
- Getting coverage now saves money and protects your future.
Big Savings for Doctors in Training
If you’re in residency or fellowship, now is the best time to buy disability insurance.
Why? Because you’re eligible for training discounts—special lower pricing only available while you’re in school or training.
And here’s the best part:
If you lock in these discounts now, they stay with you for the rest of your career—even as you increase your coverage later.
How the Discounts Work
Top-tier insurance companies like Guardian, Principal, and MassMutual offer discounts to medical and dental residents and fellows. These typically include:
- Permanent rate reductions (10%–30%)
- Simplified underwriting or even guaranteed approval through certain programs
- The ability to start with a lower-cost plan and increase coverage later without reapplying
Once your policy is issued with a discount, it’s yours to keep—even if you change employers, move states, or increase your income.
Why Waiting Can Cost More
Many doctors think they should “wait until I’m an attending” to get coverage. But by then:
- The discounts are gone
- You’ll be older, which increases your rates
- You may have a new health issue, which could raise your premium—or lead to exclusions
- You may no longer qualify for some policy features or riders
By applying during training, you lock in lower rates while you’re young, healthy, and eligible for savings.
Build Your Coverage as You Grow
Most discounted policies come with riders like:
- Benefit Increase Rider (BIR)
- Future Purchase Option (FPO)
These let you boost your benefit later—without medical questions—as your income grows. That means you don’t need to wait until you’re making a full attending salary to protect your future income.
Final Thought
Yes, residents and fellows get some of the best disability insurance pricing available. It’s one of the few financial advantages of being in training—so don’t miss it.
Locking in coverage now can save you thousands over your career, protect your income, and give you options for the future.
Ready to grab your resident discount? Click below to request your quote.
It’s fast, free, and gives you the information you need to make a smart decision.
Ready to protect your future?
Get a personalized side-by-side policy comparison of the leading disability insurance companies from an independent insurance broker.
