How to Find the Best Disability Insurance for Physicians

Finding the best disability insurance for physicians can be more complicated than if first seems. This is because you will want to make sure that any gaps you have in your coverage are taken care of by this policy and that you are getting the best terms possible.

 

The first thing to look for in disability insurance is whether it is “own occupation” or “any occupation.” Own occupation disability insurance is where if you are injured and unable to perform the functions of your medical specialty then you can receive benefits. Any occupation disability is that which will only pay benefits if you are unable to perform the functions of any occupation you are qualified for.

 

Next, you should look at some of the policy terms and conditions such as premiums and renewals.  Your premiums will vary depending on the type of policy and the company you choose. However, there are some questions you should ask such as whether the premiums are subject to increase over time and whether or not you will have to pay them while out on disability. Many policies will have prohibitions against the company cancelling them unless you stop paying premiums. This protects you and sets the policies up to automatically renew.

 

Finding the best disability insurance for physicians, and for your particular needs, can be a lot easier than you think. By asking the right questions of different companies you are sure to find something to best fit your needs.

 

photo credit: brizzle born and bred cc
This post was written by , posted on October 23, 2014 Thursday at 1:00 pm

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