Should You Pay Physician Disability Premiums with Pre- or Post-Tax Dollars? (Part 1 of 2)
Paying your physician disability insurance premiums with pretax income may be an attractive option due to the immediate savings you receive. But are you really saving money in the long-run? In this two-part post we’ll explain whether pretax or post-tax dollars provide a greater benefit. Do You Have Enough Disability Insurance? Anyone who works for […]
You Are Purchasing the Words and Phrases in Your Physician Disability Insurance Contract
During my 30+ years of working with professional clients, I found that physician disability insurance is more understandable when I provide claim examples. Here’s an example of a physician who needed to file a Residual Disability Claim and learned how important it is to have the right words and phrases in his disability insurance contract! […]
The Cost v Benefit of a Shorter Waiting Period on Your Physician Disability Insurance Policy
How can you get a shorter waiting period without paying a higher premium on your physician disability insurance policy? Most people don’t realize what a valuable benefit this particular policy is until they do some math. One scenario saves a physician 80%! Most doctors choose to go with a waiting period of 90 days to […]
A Supplemental Health Benefit to Your Physician Disability Insurance
. The insurance carrier, Principal Financial Group, takes your income protection even further with a unique, built-in provision called the Supplemental Health Benefit. Here’s how it can help. How It Works The Supplemental Health Benefit provides a once in a lifetime lump sum 6 times your monthly benefit if you were to become disabled under […]
How a Christmas Tradition Turned into a Physician Disability Claim
Some claims are just too interesting to NOT share! On November 30th I had a call from a Radiologist with a ‘potential claim’ question. His question to me was, “If I lost partial vision does that make me eligible for a claim on my disability policy”? Well the answer is, “It depends.” Here’s his (unusual) […]
Discounted, Own Specialty Physician Disability Insurance
Physicians looking for disability insurance will quickly learn from a simple online search that companies preach, “Discounted, Own Specialty Disability Insurance.” The importance may get overlooked as a physician digs deeper into possible contracts, trying to understand the specific wording. We recommend not losing site of a discounted, own specialty disability insurance plan by understanding […]
Disability Insurance is Important for You and Your Staff
Disability is important to everyone; not just you as a physician, but your staff as well. Recently my New Business Manager got sick after a couple of years of breast surgeries for initial cancer onset. She went through 4-5 surgeries and unfortunately now has a ‘super bug’ infection. Since they cannot exactly get it identified […]
The Wording of Your Physician Disability Contract is Crucial!
This general surgeon is now unable to do surgery for the foreseeable future. So the question is, “How will my disability policy work now that I need it?” The contract language will determine if the policy he bought pays everything, some, or anything at all. This surgeon actually had several policies: one through me, one […]
Physician Disability Insurance Checklist: Does the A.A.F.P. Plan Pass? (Part 2 of 2)
Last week we put the American Academy of Family Physicians (A.A.F.P.) to the “test” – comparing the physician disability insurance product offered through this association against high-performing private disability insurance. In this final post of the series, we’ll cover two more recurring topics presented from respected magazines, such as Medical Economics, Private Practice, Money Magazine […]
Physician Disability Insurance Checklist: Does the A.A.F.P. Plan Pass? (Part 1 of 2)
As a highly organized community of over 100,000 members across the United States, the American Academy of Family Physicians (A.A.F.P) is able to offer its members several valuable benefits. Some of these benefits include discounts for life insurance, auto and homeowner insurance, practice overhead insurance and disability insurance among others. While many of these reflect […]
What They Didn’t Teach You About Physician Disability Insurance in Medical School
Many of my physician clients comment that disability insurance is very important protection for the investment they have made in their careers. However, they were not given information in medical school about what to look for in a physician disability insurance policy, or how to choose the best one. Even worse, many of them ended […]
Consider Physician Disability and Life Insurance at the Same Time
As a physician, your time is obviously limited and usually comes at a premium. If you have made the decision to purchase an individual physician disability insurance policy for yourself, why not leverage the time you are investing during the application process to maximize efficiency? Since a disability insurance policy requires a medical exam as […]