Physician Disability: The Burdens of Age You want to retire on your own terms, when you are ready. While physician disability insurance is an essential protection for your livelihood, ideally you’ll never have to use it. But what if your body decides to tell you otherwise? The cost of living has
Protecting Assets
Protecting Assets Like life insurance, disability insurance is designed to protect you and your family in the event you lose your income. Life insurance protects an income loss is due to death. Disability insurance (or DI) covers loss of income is due to sickness or injury. Determining the amount
Elimination and Benefit Periods
Elimination and Benefit Periods When you’re shopping for the best disability policy for your needs, it’s clear that the monthly premium will become a factor in determining the type of policy and the company from which you take out the policy. The two main factors that can affect your premium the
Getting the Right Size Umbrella
Getting the Right Size Umbrella One of America’s foremost financial counselors, Dave Ramsey, says, “It’s gonna rain. You need an umbrella.” Of course, he was referring to having an emergency fund of cash available. But the same truth can be applied to having disability insurance. Maybe you’re not
Apples to Apples
Apples to Apples Have you conducted a needs analysis for disability insurance with your agent or broker? Do you have an idea how much DI you would probably need for you and your family to survive with an extended disability? Were you sufficiently awed by the numbers that you are ready to take the
Critical Care Comes at a Cost
Critical Care Comes at a Cost Most people are highly optimistic that they won't get into a serious accident or fall to a serious illness in their lifetime. But nobody is immune to life-altering events, such as heart attacks, strokes, or cancer. As a pysician, you are certainly aware that illness
The Expressway to Broke?
The Expressway to Broke? You might have read another post on this blog that mocked your perceived invincibility if you’re a youngin’ (age 50 or under). The very short version of this post was that the younger you are, the higher the odds that you will become disabled for at least 90 days, suffering
The Audacity of Invincibility
The Audacity of Invincibility You think you’re invincible, huh? Think you’re Superman? Murphy has something to say about that. You know Murphy – the one with the law that says that whatever can go wrong, will? Yeah, Murphy really doesn't take too well to those who believe they’re invincible.