What Makes Whole Life Insurance Different?

December 27, 2024April 20, 2015 by Justin Nabity

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The Physician’s Life Insurance Primer Series: What is Whole Life Insurance and how does it work?

Although whole life insurance, in its present form, has been around for over a century, it remains somewhat of an enigma for people who want to buy permanent protection, especially as new forms of life insurance have sprung up around it over the last several decades. In this article, we’ll discuss how this type of policy works and some of the features that may be useful within a complete financial plan.

How to Tell if You’re Getting Good Disability Income Planning Advice

June 27, 2024April 20, 2015 by Justin Nabity

Because they recognize the need to protect their most valuable asset – their earning power – physicians are a ready and willing market for disability insurance sales people. Most physicians, by the time they enter residency, are bombarded with solicitations which continue throughout their working lives.
For most young physicians, the initial advice they receive for addressing their disability income needs is typically provided by insurance sales people, incentivized by their company to sell its products. This leaves to question just how good is the advice and whether it’s offered in the best interest of the physician or the sales person.

You’re Covered for Any Injury, Disease, or Disorder Except for…

June 27, 2024April 20, 2015 by Justin Nabity

Medical Exclusion Riders – What are They and How to Avoid Them

Often when we present policy offers that contain medical exclusions to physicians, they are frustrated and consider looking elsewhere for coverage. However, it is likely, if a reason for an exclusion is found by one carrier, others will find it in your medical history as well. Medical exclusions don’t have to be showstoppers, though. Learn how disability insurance can still work for you, even with exclusions.

What’s in Your Disability Insurance Policy?

June 27, 2024April 20, 2015 by Justin Nabity

What’s in your disability insurance policy? That question might remind you of a certain credit card commercial in which the announcer asks, “What’s in your wallet?” We won’t subject you to a Viking assault in this blog, as one version of the commercial did onscreen, but we will share our opinion that ignorance of what’s in your disability policy could be as painful as an arrow in your back when it comes time to make a claim.

Disability insurance plans can be complex, and each plan is different. Employer-based disability plans are often free or very inexpensive, but the benefits are likely to be inadequate to cover all contingencies. Are you sure your disability insurance policy contains what’s best for your long-term financial plan? Maybe it’s time to look into it.

Why Physicians Need an Investment Coach

June 27, 2024April 20, 2015 by Justin Nabity

An investor’s own worst enemy is likely to be himself. Why it is important to find a trusted advisor and sounding board.

If you believe some of the world’s greatest investors, such as Benjamin Graham and Warren Buffet, it’s not investments that cause people to lose money; rather, it’s people who cause people to lose their money. What is meant by that is investing with sound principles and intelligent practices will always have a greater likelihood of success.

Types of Life Insurance for Physicians

December 27, 2024April 20, 2015 by Justin Nabity

Introducing The Physician’s Life Insurance Primer, a series explaining life insurance. This post introduces the basic types of life insurance and fundamental pros and cons of each.

Broadly speaking, there are two categories of life insurance, term insurance and permanent insurance, commonly known as whole life insurance.

Widening the Disability Insurance Gender Gap

October 25, 2021April 20, 2015 by Justin Nabity

Females present higher risk of disability and will soon pay for it with higher premiums.

The odds of a female filing a claim is higher than a male and insurance companies are about to adjust their rates to reflect the higher risk.

Female Disability: 40% higher risk and 60% higher insurance costs

Physician Contract Review FAQ’s Part 2

November 4, 2022April 20, 2015 by Justin Nabity

Read FAQ’s Part 1 here!

What should I expect regarding partnership eligibility and benefit repayment?

Our team of attorneys and advisors assist hundreds of physicians each year with employment and partnership contract reviews. Of course, in the process, they get many questions. This is another installment of answers to questions frequently asked in physician contract reviews, specifically around partnership eligibility and benefit repayment.

Estate Planning: You’re Never Too Young

June 27, 2024April 20, 2015 by Justin Nabity

Why physicians should begin with the end in mind and secure their estate plan early

It’s understandable why many physicians in their 40’s and 50’s are inordinately focused on their careers and on trying to accumulate assets; they’ve been playing catch up since they left training, and they have a shorter time horizon in which to achieve their most important goals. However, a common mistake most physicians make is to put off planning their estate until they’ve accumulated some wealth, not realizing that there is so much that can happen along the way which can have devastating consequences for their families. While there are a number of reasons why younger physicians tend to avoid facing these critical issues, the minimal time and expense it takes to address them, thus preventing unnecessary hardship and heartache, makes it almost inexcusable not to.

5 Things Financially Successful Physicians Do Differently

June 27, 2024April 20, 2015 by Justin Nabity

While all physicians face the same financial challenges early on in their careers, each one begins to make decisions about their financial future that will set them on an individual course largely determined by the consequences of their actions – or inaction.

Challenges not met early on with deliberate steps to overcome them can eventually become obstacles to financial success which can grow increasingly insurmountable in a shrinking time horizon.

Perhaps the biggest difference between financially successful physicians and those who struggle is the realization that there is not a minute to waste in setting the right course.

For younger physicians, the best course is the one followed by physicians who have achieved financial success.

The Physician’s Life Insurance Primer Series: What is Whole Life Insurance and how does it work?

Medical Exclusion Riders – What are They and How to Avoid Them

An investor’s own worst enemy is likely to be himself. Why it is important to find a trusted advisor and sounding board.

Females present higher risk of disability and will soon pay for it with higher premiums.

Female Disability: 40% higher risk and 60% higher insurance costs

What should I expect regarding partnership eligibility and benefit repayment?

Why physicians should begin with the end in mind and secure their estate plan early

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