Maybe it’s just a coincidence that May is both National Arthritis Awareness Month and Disability Insurance Awareness Month. But with the recent study released by Global Burden of Disease that found that musculoskeletal (MSK) conditions are the second greatest cause of disability, it serves as a convenient reminder that MSK conditions, which affect nearly 2 billion people worldwide, can strike anyone at just about any time. In fact, back pain, joint pain, and arthritis are among the leading causes of disabilities among physicians. Maybe the month of May should also be Physician Disability Insurance Awareness Month – the time for reviewing your disability income plan to ensure it provides the maximum protection available.
Physicians are certainly aware of the risk of disability as evidenced by the fact that the vast majority own some sort of disability insurance plan. However, it is also evident that many physicians may not have given the one-in-five chance of suffering a disability its due consideration – as if, perhaps, it were something that “couldn’t possibly happen to me.” That probably explains the nearly half who continue to rely on group disability insurance plans even though they fall well short of providing maximum protection. And, while there is no actual data available to verify this, our experience working with physicians indicates that too many also rely on standard disability insurance plans which don’t provide adequate coverage.
The onset of arthritis, one of the most common conditions that lead to physicians’ disability can be rapidly progressive. Osteoarthritis, the most common form of arthritis and joint pain afflicts physicians who engage in repetitive activities which can result in the gradual breakdown of joint cartilage in the hands, elbows and shoulders. You may be years away from developing arthritis, or it may pass you by completely. But, do you really want to take the chance of not knowing whether your coverage will be adequate to meet your more complex disability income needs.
Make Awareness Month the Insurance Checkup Month
With hundreds of thousands of dollars invested in their career that should generate millions of dollars in earnings over your working years, you have a lot riding on your ability to utilize your highly refined clinical skills. Your disability income plan is critical to securing your financial future should you suffer the fate of the one-in-five people who will be disabled at some point before the age of 65.
Disability insurance is one of more complex financial instruments for anyone to understand, let alone physicians who are completely immersed in their own body of knowledge. It requires the expertise of an independent specialist who can provide objective guidance and who has the resources to match your specific needs to the optimum physician disability income plan for your situation. If you haven’t done so recently, it would be important to schedule a checkup for your disability income plan with a specialist. The brief amount of time spent to ensure you have the maximum protection for your most valuable asset would be well worth while.
Doctor Disability has been working exclusively in the medical community for more than a decade, so we not only have a deep understanding of the unique needs and demands of physicians, we have the experience to be able to streamline the process of finding the best physician disability insurance solution at the most affordable cost. Contact Doctor Disability today to schedule your disability income plan checkup.