Insurance Learning Center
3 Advantages to buying a disability insurance policy in training
As a physician in residency or fellowship, you are on the brink of launching your career and enjoying the fruits of your hard work. However, have you stopped to consider what would happen if an unexpected disability were to prevent you from practicing medicine?
Is Employer Disability Insurance Enough?
It is common for many employers to offer long term disability insurance to their employees as a part of their benefit package. Many people wonder is this sufficient coverage to protect their income? While it is a nice benefit to have employer provided disability insurance, the fact remains that there are a few problems relying only on your employer group disability insurance.
The 5 Disability Insurance Riders for Physicians
If you are a physician, it is likely you already know the importance of carrying your own long-term disability insurance policy to protect your income. But, ensuring you have a disability insurance policy isn’t enough, you need to make sure you have the right definitions and riders to truly protect your medical specialty. In this article, we are going to break down the 5 must-have riders physicians need to include on their long-term disability insurance policy.
What is True Own-Occupation?
The definition of disability on a policy is essential to understanding what types of claims would be covered if you were ever disabled and out of work. These definitions range from very narrow to broad in their coverage potential. The two most common definitions we are going to look at here are “true own-occupation” and “any occupation.”