Are you still in your residency – here’s what you need to know:
- This is the best time in your career for you to get own occupation / own specialty disability insurance.
- You are young and healthy.
- Although you are practicing medicine, the insurance companies view you as just starting out, and typically have discounted policies.
- These discounted policies are usually only available during your residency, but the pricing and coverage lasts for your career.
- You can increase your benefits throughout your career.
We recommend getting True Own Occupation Disability Insurance while you are young and healthy and the rates are at their lowest.
Listen to a snipped from our podcast about the subject:
Advice To Young Doctors
If you are ready to sign-up today, please click the Begin Application button below. This application only takes a few minutes to complete and will begin the process.
If you are not sure of your options, what the best course of action is or what type of disability coverage you should get? Schedule a call with us below. We’ll explain the options available to you and work with you to evaluate your specific needs and recommend a plan to protect your investment.
I’m Nick Trawinski, President of The Doctor Insurance Group. We are a consulting firm with a dedicated focus on the insurance and financial planning needs of physicians.
Why work with us? Because our specialty is protecting your specialty.
In addition to ensuring you have the right coverage, I have been able to save clients more than $100,000 over the course of their careers by shopping special rates and leveraging hospital affiliated discounts.
Special Resident Premiums ranging from $150 - $220 per month
- Base Monthly Benefit: $5,000
- Guaranteed Premiums
- 90Day Elimination Period
- Age 67 Benefit Period
- True Own Occupation Coverage
- Future Benefit Increase Option up to $20,000 per month of future coverage
- 3% Cost of Living Protection
- Enhances Partial Disability Coverage
Rates vary based on your age, sex, specialty, location, health history, optional riders and carrier.
Choose from 6 A-Rated Carriers
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.
Why is the “definition of disabled” so important?
This definition is what your disability insurance carrier uses to determine when, or if, they consider you disabled and eligible to receive your benefit payments.
Being disabled cannot simply be defined as a sickness or injury that prevents you from “working”. Based on your education and experience in becoming a physician, 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.
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.
Which carriers offer Own Occupation Disability Insurance for Physicians?
True Own Occupation Disability Insurance, also known as Own Specialty Disability Insurance, is only available through one of these six, A-rated insurance carriers:
Please use our comparison tool to evaluate the differences between the coverage options offered.
Why are group or association insurance plans less expensive than individual insurance?
Group and association plans are less expensive because the do not offer the same level of coverage or financial protection. With group and association plans:
- You can lose your benefit if you decide to work in another field or position
- Group policies can be changed or cancelled by the insurance company
- Your rates will greatly increase over time with an association plan
- Claims are paid in fewer scenarios because of the limited definition of disability