Dr. Jennings, a fourth-year resident in plastic surgery, was at home in her kitchen. While unloading her dishwasher, she dropped a coffee cup. She reached down to try to catch it before it hit the floor, but the cup broke, and a large shard of glass bounced up and severed a nerve and tendon in her
Comparing Disability Insurance for Physicians
There are common elements, of course, that apply to just about any disability insurance policy. All of them are designed to protect (replace) a fraction of your income for a time in the event you experience a qualifying disability. In the individual market, you must be in good health at the time you
Disability Insurance Brokers Offer Best Solutions for Physicians
There was a time when physicians could obtain high quality disability insurance from a wide range of insurance carriers. Then, due to increasing costs and competition, the field narrowed, as did the available benefits, making it more difficult for physicians to obtain this coverage. Today,
Business Overhead Expense: A Real Risk that Needs a Real Solution
Any medical or dental practice that relies on one or two people to generate revenue is especially vulnerable to financial problems in the event of a disability. Disability income benefits are usually sufficient to replace a disabled practitioner’s income, but are typically insufficient when it comes
Will Your Disability Policy Protect You at the Next Level?
Will Your Disability Policy Protect You at the Next Level?The medical profession is unusual in many respects, but one in particular sets it apart from all most other professions; and that is the meteoric rise in income most medical professionals experience beginning the day they complete their
Disability Insurance Premiums – How are they determined?
Disability Insurance PremiumsCompared 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
Traditional vs. Residual Disability Insurance: Key Similarities
In previous posts we’ve looked at two types of disability income insurance – traditional and residual – and looked at some of the key differences between them. Now we’ll take a look at some of the key similarities.For Tax PurposesAll premiums paid on individual disability insurance are not
Don’t Count on Workers Comp for Disability Income
Don't Count on Workers Comp for Disability IncomeIf you’re working in the medical profession and you are counting on workers compensation insurance to cover your financial needs should you become disabled, think again. Work-related accidents cause fewer than 5% of all disabilities, according to a