Affordable Physician’s Disability Insurance
By Buff on Aug 25, 2008 in Health
Doctors are highly-trained professionals – and if you are one, you know that training comes with an exceptionally high cost these days. The eventual pay off for investing in your education is a great one, but what would happen if you were no longer able to perform your medical duties due to illness or injury? Disability insurance for physicians is designed to bridge this gap.
Many disability insurance policies are somewhat limited in the coverage they provide. Some will only pay benefits in the event that you are completely disabled and unable to earn an income of any sort – and often, policies only match around sixty percent of your typical salary. Own occupation disability insurance is designed to protect professionals in the event that they are unable to perform their specialty.
In most cases, the more specialized the coverage you require, the higher your disability insurance premiums are likely to be. However, physician’s disability insurance can be quite affordable if you’re prepared to shop around. Comparing the coverage offered, premium payable and the interval between disability occurring and benefits becoming available is a good way to determine which policy is best for your needs. To get the best coverage for your money as quickly as possible, we recommend you start applying as soon as possible – and always complete applications honestly the first time.
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