Often, physicians and other medical professionals are automatically given these contracts for free through the employer OR they buy these plans; either because they want to supplement the free one or there isn’t a free one. **We discuss ways this can be very problematic for you if you go on claim.**
**We are not tax advisors – typical rules in regards to disability plans is listed below:**
If you are given a free group disability insurance policy at work, it is typically taxable upon receipt since you never paid for it.
If you buy a plan with after-tax dollars, typically this means that the benefits are tax-free upon receipt. No double taxation on your disability income benefits.
Our physician guide here explains this in more detail: https://mddisabilityquotes.com/physicians-guide
Our Group vs. Private Contract video is here: Group or Association Plans vs. Private Individual Disability Income
If you want a disability insurance review, please print our FREE CHECKLIST, then schedule a time to discuss your plan here: https://mddisabilityquotes.com/schedule-a-meeting
What You Will Learn:
• What a Modified Own-Occupation definition of disability means
• How Modified Own-Occupation differs from True Own-Occupation coverage
• Why some disability policies change after 24 months on claim
• How “educated, trained, or experienced” language can affect benefits
• When disability benefits may be reduced or discontinued
• Why contract wording matters for physician specialists
• How True Own-Occupation coverage can provide broader income protection
• Free physician disability insurance resources from MD Disability Quotes
Chapters:
0:00 Introduction to Modified Own-Occupation
0:20 The 24-Month Policy Limitation
0:44 Understanding “Educated, Trained, or Experienced” Language
1:24 When Benefits May Be Reduced or Terminated
1:46 Why True Own-Occupation Is Often Preferred for Specialists
2:12 Free Physician Disability Insurance Resources