Group disability insurance provided by employers can be a valuable benefit for physicians. It offers financial protection in case of illness or injury that prevents you from working. However, while group coverage provides a safety net, it may not be sufficient to fully protect your income and
Decoding Group Disability: What Every Doctor Should Know Before Signing Up
In the world of insurance, especially for professionals like doctors who often face high risks in their daily practice, understanding the nuances of disability insurance is essential. When considering group disability insurance, doctors must recognize both its opportunities and limitations. The
Group Disability Insurance: Could It Leave Your Income on Life Support?
You sign up for group disability insurance at work. It feels like a no-brainer. Premiums only cost a few dollars per month, and getting insured is easy: no insurance agents, underwriters, or medical exams. Then, something happens to you. You think, “Thank goodness my disability insurance protects
Why Doctors Need Disability Insurance – And Why Worker’s Compensation Isn’t Enough
Worker's compensation likely isn't enough. Where worker's comp falls short, disability insurance can pick up the slack. It’s not just us saying it – Doctors should own long term disability insurance. And preferably they should have their own coverage, in addition to whatever coverage they receive
What You Need to Know About Group Disability Insurance
While employer provided disability insurance is a great first layer of income protection, there are some important drawbacks to be aware of. Here is an overview of the pros and cons of group disability insurance: Benefits of group disability insurance: 1. It's easy to get All you have
Group Disability Vs. Individual Disability – What You Need to Know
My employer offers me disability insurance via a group plan. Why do I need my own policy? It’s terrific that your employer offers this important benefit to you. But there are important differences between a group disability plan designed to appeal to employers and an individual plan, designed
Are You Affected by the Recent American Dental Association (ADA) Disability Insurance Rate Increase?
Thousands of practicing dentists across the country got some bad news from their disability insurance company last spring: Their affiliated disability insurance company, Great West Life, announced a significant rate increase effective May 1st. Premiums for men increased by about 16 percent, while
6 Reasons You Should Own Your Own Disability Insurance Policy In Addition To Your Employer’s Group Policy
Many people we speak with ask us why they should purchase their own disability insurance when their employer already offers a general group plan for all the employees. There are many reasons why doctors and dentists, especially, should own their own individual disability policies. Here are some of