Mental health conditions and substance abuse disorders are common causes for disability claims for physicians. In fact, 10-15% of physicians will struggle with substance or alcohol abuse at some point in their lives. Different policies vary in their coverage of claims related to mental illness, nervous conditions, or substance disorders, however many carriers allow physicians to purchase Mental Illness or Substance Disorder specific riders to enhance their coverage.
As you consider any riders related to mental illness, nervous or substance disorders, pay close attention to limitations in the benefit period. Many of these riders will still only pay benefits for a maximum of one or two years for mental health or substance abuse related claims. For this reason, some physicians decide the additional cost of the rider is not worth the limited payout period. However, for other physicians, this rider can be tremendously valuable. In the event that a physician suffers debilitating depression that prevents them from working for a year, or wants to go on claim to seek rehabilitation treatment, this rider can provide critical income protection while they get back on their feet. Carefully consider your age, savings, and family history as you decide whether this rider is right for your policy.
Available Options
- 24 months
- 60 months
- Unlimited
*Note: Unlimited mental health coverage would match the policies benefit period.
