If you are relying on your employer sponsored long-term disability plan, or if you have a policy through Northwestern Mutual, the AMA, or another professional medical association, then you many not have adequate disability coverage.
Own Occupation / Own Specialty Disability Insurance:
- Provides True Own Specialty Disability coverage, which may only be a rider on your current policy
- Allows you to continue to work and earn income in another specialty and still collect your benefit
- Allows you to work within your “own occupation” at a different capacity and still collect your benefit
- Guarantees locked-in premiums, contract renewals and special discounts
- Provides residual disability benefits
- Has accumulated elimination days
- Provides a COLA rider and future increase option
- Provides adequate TAX FREE income
True Own Specialty coverage protects doctors from the inability to perform the material and substantial duties of their specialty. It does not limit you from continuing to work in your specialty in a different capacity, nor does it limit you from working in a different specialty or business entirely.
Safeguard your investment in the event you can’t work in your chosen profession due to an accident or illness.
Disability coverage is most important to those in the medical field, more-so than in other white-collar professions. You are highly educated, trained, on your feet, and working with your hands 40+ hours a week. You are not simply working 9-5 behind a desk in a low-risk field all day.
If you are relying on your employer sponsored group long-term disability plan, or if you have a policy through Northwestern Mutual, the AMA, or another professional medical association, then you may NOT have “True” Own Specialty Disability Insurance.
We have found that many physicians believe they have “true own specialty disability coverage” through their employer, only to learn they do not after it’s too late. Quite often the coverage provided by an employer, hospital, or even through the AMA, will limit your ability to work in another field or earn income from any other source should you be unable to perform your job as a physician.
True Own Specialty Coverage also also gives you the freedom to earn income from another source should you be unable to continue working in your specialty, even if it is not in the medical profession.
With the correct True Own Speciality Disability Coverage, you will be eligible to receive your full monthly benefit regardless of how much income you are earning in another field.
Read more about the definition of "Disabled"
How does your disability insurance carrier define when they consider you disabled?
With a specialty as yours, being disabled cannot simply be defined as a sickness or injury that prevents you from “working”. Based on your education and experience, it is going to take a lot to prevent you from “working” in some capacity.
Your disability insurance policy must define you as disabled if a sickness or injury makes it so you are no longer able, or you are no longer comfortable, working as a physician – and it should not penalize you if you engage in another occupation.
As with many important decisions; the devil is in the details… This is very true when it comes to disability insurance, and the carriers make the details and specifics of their policies a challenge to understand. We aim to simplify it for you:
Does your policy say: “We will consider you disabled when you cannot perform the duties as a physician, and you prove to us that you cannot perform the duties of any other reasonable occupation?”
- This definition is offered by some group policies and is not desirable.
Does your policy say: “We will consider you disabled when you cannot perform the duties as a physician, so long as you are not gainfully employed in any other occupation from now until the age of 65”.
- This definition is offered through some group policies, the AMA and other professional medical association plans, and is also not desirable.
Your policy should say: “You are considered totally disabled when you are unable to work as a physician, and we will still consider you totally disabled even if you work in another occupation”.
- This definition of disabled is the only one considered TRUE Own Specialty, and the type of coverage you should have. This means if you cannot continue working as a physician, you can do something else AND collect your tax-free disability benefit.
Over 2,000 physicians have trusted us to develop comprehensive disability insurance and tax-free retirement strategies for them and their families.
Our CEO, Nick Trawinski, has been supporting physicians with their disability and other insurance needs for over 14 years, and is considered an industry expert.
Our speciality is helping you protect the wealth you've earned in your specialty, and we've placed more than $100,000,000 in disability insurance coverage protection.
ALL 6 CARRIERS
There are only 6 carriers offering TRUE Own Specialty Disability Insurance and we work with all of them.