The one thing of which physicians can be certain is change. Life happens every day and, as a result, we are constantly assessing our situation and changing our course, usually by making small adjustments. A life insurance purchase is one of the few decisions we make with a more long term
How Much Life Insurance Coverage Do You Really Need?
How Much Life Insurance Coverage Do You Really Need? One of our physician clients asks: I’ve been putting off buying life insurance, but now that I’m married with a baby on the way I need to do the responsible thing. I’ve settled on buying term insurance, but I’m not sure on how much I should get.
Year-End Tax Planning for Physicians
Tax planning for physicians is a year round endeavor. Typically, it is not until they approach the year-end until they have a better understanding of their financial situation as it relates to profits, cash flow anticipation, expense allotments, and their tax consequences. Taking the opportunity to
Disability Insurance Premiums – How are they determined?
Compared with other forms of insurance, disability insurance premiums tend to be much more expensive. Why? Because you are at a greater risk of becoming disabled than you are to die prematurely or lose your house to a fire. Understanding how disability insurance premiums are calculated and knowing
Doctor Disability Insurance: Importance of Cost of Living Adjustment
Doctor Disability Insurance: Importance of Cost of Living Adjustment Ever go to the drive-thru, head off with your order, then—once you’re about six miles from the restaurant—reach into the bag and find something is missing? You can have the same experience with your disability income protection if
Doctors Disability: Lock in Protection Before It’s Too Late
75% of Disabled Americans Face Financial Hardship—Don’t Be One of Them Here’s a terrifying stat: Three out of four people diagnosed with multiple sclerosis end up in financial hardship. Why? Because they can’t work—and they didn’t prepare for it.The reality? 1 in 4 U.S. workers will
How to Build an Emergency Fund for Physicians (Without Cutting Into Your Lifestyle)
Most physicians earn a good income. But one unexpected event—a lawsuit, a sudden expense, a career pause—and without savings, financial security crumbles.That’s why an emergency fund for physicians is not a luxury. It’s a necessity.Experts recommend three to six months of expenses in cash. Yet, most
Million Dollar Disability Insurance
Can you imagine losing out on a million dollars?The Canadian band, Barenaked Ladies, sang, "If I Had a Million Dollars." But what if you became seriously disabled and couldn’t work for years—or ever again? How much income would you lose? How would you support your family?Without disability