DISABILITY INSURANCE
Protect Your Income

Speak with experts to determine the right disability insurance policy for you.

How Disability Insurance Could Help You

Present Income Protection

Your income funds every
aspect of your life

Future Income Protection

Protecting
what’s to come

Debt Repayment

From student loans 
to your mortgage

Retirement Protection

Replace contributions you
would have made

Guide To Disability Insurance For Doctors

Doctors play a critical role in society by providing healthcare and improving the lives of their patients. However, like anyone else, doctors are not immune to unforeseen circumstances that can impact their ability to practice.

A sudden illness or injury could result in a temporary or permanent disability, leading to significant financial hardships. Disability insurance can protect doctors and their families.

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Own-Occupation Disability Insurance

Considers a doctor disabled if they are unable to perform the duties of their occupation at the time of disability

  • Receive the full disability benefit while working in another occupation and earning income without limitation
  • Offers comprehensive protection

Modified Own Occupation Insurance

An option for total disability if you cannot do your own occupation due to an injury or illness with modification if a new occupation is chosen

  • Flexibility coverage
  • If it is determined that the doctor is able to work in another occupation, benefits would be modified based on the new income.

How It Works

Share Your Information

Answer a short, eight question survey with basic information about you. Your information is not sold to any other company.

Experts Shop The Market For Your Best Options

Using the information you provided, experts do the leg work for you by finding the best available choices.

Pick Your New Insurance Policy

Before you purchase your policy, experts are available to walk you through your choices and answer any questions you have along the way.

Other Insurance Products

FAQs

Disability Insurance

I already have disability insurance with my group, why would I need an individual policy?
The contract language in a group disability plan is often not as strong as an individual disability insurance policy, and the group plan may not provide enough coverage to adequately protect your income. Most group disability plans are also not portable, meaning you cannot take the same plan at the same premium and benefit if you leave your group. Everyone’s situation is different, but it’s wise for doctors to have a baseline of individual disability insurance as their primary coverage.

I have a lot of student loan debt, does this help pay for those loans if I become disabled?
Most importantly, disability is designed to replace income which pays debt, so yes. However, there are a couple premier carriers who have riders that pay you an additional amount (over your base disability benefit) designed to help pay down your debt.

I'm young and healthy, why would I need disability right now?
Now is the perfect time to get a disability plan as a young and healthy person. This is the time that your rate will be the lowest and qualification the easiest. If you wait until your health situation changes, you may not be able to qualify for coverage. When applying for disability insurance, pre-existing conditions can affect your ability to qualify.

I'm a resident or medical/dental/vet student. Can I afford a policy right now?
Your team of experts, through experience, fully understands the financial life of residents and students, which is why we have customized plans designed specifically for your situation.

Life Insurance

I already have life insurance with my group, why would I need more life insurance?
Your group plan may not provide an adequate amount of coverage for your situation and needs. Most group plans are also not portable, meaning you cannot take the same death benefit and premium with you if you leave your group. Even if you stay with your group until retirement, these plans may not provide protection after retirement. For these reasons, it’s often appropriate to have a combination of individual and group life insurance.

Glossary Of Terms

Disability Insurance Terms

Non-Cancellable and Guaranteed Renewable mean that the terms of your policy can’t be changed or canceled by the insurer, as long as premiums are paid on time.

Level Premiums provide consistent premium pricing from the time your policy begins, until age 65. If coverage is increased, the cost for the new coverage will be added to your original cost.

Graded Premiums begin with a lower premium cost and increase annually. Graded premiums can be changed to level premiums in future when they typically can be more easily afforded.

Future Insurability Options allow you to increase your coverage amount as your income grows, regardless of your health.

Partial Disability Coverage enables you to see patients part time and work a reduced number of hours, if you’re able to, while still receiving benefits for a partial disability.

Cost of Living Adjustments may help to keep disability benefits consistent with inflation through annual post-disability increases.

Own Occupation is a definition of disability covering disabilities that prevent you from working in the specific occupation you’ve been trained for and are currently working in.

Student Loan Riders may help you make your student loan payments while disabled.

Life Insurance Terms

Term Life insurance was created as an affordable solution to addressing an unexpected death during a limited number of years. For a fixed number of years, term life insurance can provide your dependents or lenders with a substantial safety net. This makes it a common choice for doctors who want to ensure their loved ones are financially secure in the event of their untimely death.

While the need for term life insurance varies, it’s frequently used by practicing doctors to protect family, provide an estate in the event of premature death, and serve as collateral for business and other loans.

Whole Life policies (also known as permanent life policies) are long-term coverages that may grow in value. Many of these policies also allow you to access or borrow against a portion of the benefits, called the policy’s “cash value.”

You can also customize these benefits and the terms of your policy to get the appropriate policy for yourself.

General Terms

Collateral Assignment
Using your life or disability policy as collateral for a loan is called a collateral assignment. If you die or become disabled, the assigned policy will be used to pay off the debt and any remaining value will be dispersed to your beneficiaries.

Evidence of Insurability
Insurers evaluate your income, age, financial and medical circumstances to determine if you’re eligible for a certain amount or type of coverage.

Insurance Products Are:
NOT A DEPOSIT | NOT FDIC-INSURED | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT GUARANTEED BY THE INSTITUTION | MAY GO DOWN IN VALUE

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