Physician Disability: Don't Overlook Disability Insurance Auto, homeowners, health & life insurance; the necessity of these insurance lines is well known. But what about physician disability insurance? The broad definition of disability coverage is a coverage that replaces lost earnings if
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
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.
The Million Dollar Gap
The Million Dollar Gap Can you imagine missing out on a million dollars? The Canadian band, Barenaked Ladies, sang “If I Had a Million Dollars.” Well, what if you became seriously disabled and could not work for years – if ever again? How much money do you think you would be missing out on in
Paycheck Insurance
Paycheck Insurance OK, so here’s the deal. You have worked hard, hit the books, passed all the exams, did your residency and now you’re making the good money you always thought you’d make, mainly because you had a calling to help others. That’s noble, and you are certainly respected for your work