Before you buy disability insurance - be sure to ask these eight questions: 1. How does the disability insurance policy determine if I’m disabled? The best plans define disability as a sickness or injury that prevents you from performing the duties of your own occupation or medical/dental
Medical School Loans: How will they affect disability insurance benefits?
You knew those medical school loans were going to be a drain on your lifestyle when you took them out, but what happens if you become disabled and can’t work as a doctor after graduating or you become disabled before graduating? If you’ve been a good planner, you already have purchased some form
I have a pre-existing condition. Can I still get disability insurance?
Disability insurance isn’t like major medical insurance post-Obamacare. While major medical carriers have to take all comers, regardless of their medical history (provided they apply during an open enrollment or special enrollment period), disability insurance is still medically underwritten. That
Different Types of Own Occupation Disability Insurance
Nearly every insurance expert will advise doctors it’s important to own a disability insurance policy with an own occupation definition of disability written into the contract. That’s in contrast to the less desirable “any occupation” definition included in many contracts. For physicians, an own
Disability Insurance: Don’t Count on Uncle Sam if You’re Disabled
If you’re ever disabled, don’t be relying on the federal government for help. Federal disability benefits were never intended to cover more than very basic needs. The average Social Security Disability benefit is just $1,358 per month. And now it’s taking even longer to get approved. In prior years,
Association Disability Insurance
I talk to a lot of physicians who are comparing individual disability insurance to a plan offered by their medical association (AMA, ADA, etc.). At first glance, Association Disability Insurance seems to offer physician-friendly, own-occupation coverage at a fraction of the cost of some other types
The Most Dangerous Myths About Insurance Coverage
When it comes to insurance coverage, what you don’t know may not kill you – but it can cost an awful lot of money. Unfortunately, there are a number of myths and misconceptions that even very highly educated people have about insurance and what it covers and doesn’t cover. Here are some of the most
Is Your Disability Protection Up to the Job?
Disability insurance protection is a critical component of a financial plan for most people – but especially for physicians. This is because doctors, dentists and other similarly-situated professionals generally have huge sums of money invested in education, need to be in reasonably good health in