A Physician’s Guide to the Top Disability Insurance Companies

December 6, 2023October 15, 2023 by Justin Nabity

Physicians need disability insurance. Without it, a single illness or injury could significantly impact your financial security and your way of life.

Unfortunately, your employer’s group policy, employee benefits, and Social Security likely won’t be enough.

This article explains how to select a provider and the best disability insurance plan for you. Not only do we list our top picks for the best plans for physicians, but we’ll also discuss what to look for when choosing coverage.

Our disability insurance experts can help you find the best plan for you. Contact Physicians Thrive today to connect with one of our specialists.

Disability Insurance Riders: Residual, Partial & CAT

November 18, 2024April 13, 2023 by Justin Nabity

Disability insurance is one of the most important investments many people make. It aids in providing financial protection to you should you become unable to work. Just like purchasing life insurance, the investment in disability coverage aims to cover those “what if” situations. Disability insurance riders are a way to customize your policy to ensure it matches your unique needs. There are various ways to do this, including with residual disability and partial disability. Here’s what you need to know.

Physicians Thrive can help you find the best insurance for you and your loved ones. We can help you pick the best disability insurance riders such as partial or residual, guide you through the application process, and answer any questions you have along the way.

Here is a quick review of disability insurance and a deeper dive into some of the riders.

Disability Insurance for Dentists and Oral Surgeons

April 13, 2023January 4, 2022 by Justin Nabity

Young black dentist posing at clinic over modern cabinet, empty space

Whether you’re a general dentist, an oral and maxillofacial surgeon, endodontist, or another type of dental professional, you know that dentistry is rewarding work. Therefore, disability insurance for a dentist is important.

Further than the education and experience alone, it also provides you another benefit:

The opportunity to earn a higher-than-average salary.

According to the U.S. Bureau of Labor Statistics, the average dentist salary in the U.S. is approximately $164,000 per year.

Oral and maxillofacial surgeons top the field as the highest income earners of all MD dentists, making an average of roughly $235,000 per year.

And when you earn a physician’s salary, you need to protect it with a disability insurance plan.

From how much it costs to picking the right insurer, here’s our guide to disability insurance for dentists and oral surgeons.

Physicians Thrive can help you choose the best disability insurance to protect yourself, your family, and your dental practice. Contact us today to find out how.

Provider Reviews: MassMutual Disability Insurance

November 22, 2022January 2, 2022 by Justin Nabity

woman-in-blue-jacket-sitting-on-chair-3740558

For physicians and other high-income earners, long-term disability insurance is a must.

If you become injured, ill, or disabled and cannot work, disability insurance will provide you with income. It’s a way to protect your family and provide for your future without having to dip into your savings or retirement funds.

But, like all forms of insurance, it can be difficult to decide which disability policy to select.

Today we’re taking a look into what a disability insurance policy from MassMutual looks like. This disability insurance review will discuss how it can benefit you in the event that you can no longer perform the duties in your current line of work.

Physicians Thrive can help you find the best disability insurance for you and your loved ones. We can help you pick the best insurance riders, guide you through the application process, and answer any questions you have along the way.

Here is our complete provider review on MassMutual disability insurance.

Disability Insurance for Self-Employed Physicians

January 6, 2025October 28, 2021 by Justin Nabity

Broken Arm Injured Worker Compensation Coverage. Using Office Laptop

For physicians, having disability insurance coverage is just as important as having health insurance, auto insurance, and homeowner’s insurance. It’s the single best way to protect your future income and ensure you can still earn income even if you become too ill or injured to perform your job duties.

No matter their specialty, every physician should have disability insurance, including self-employed ones. Whether you work locum tenens, as an independent contractor, or own your practice, here’s what self-employed physicians need to know about disability insurance.

Types of Disability Insurance for Physicians: Your Full Breakdown

September 26, 2023September 29, 2021 by Justin Nabity

Disability insurance is protection. Protection of your finances. Protection for your family. And protection for your future. It’s as important as having health or life insurance, yet not everyone has a policy.

For physicians earning a high annual salary, it’s even more crucial.

A physical disability or a serious illness can prevent you from working for a short period of time or for the rest of your lifetime. And they can occur at any time in life. Having disability insurance is a way to ensure that you will have some form of income coming in, even if you’re unable to work.

Like all types of insurance, disability insurance can be rather complex. There are a variety of different policies that one can take, all of which provide different levels of coverage and waiting periods. Today we’re taking a look at the various types to help you decide which one is right for you.

Here is our full breakdown of the types of disability insurance for physicians.

Physician Practice Disability: BOE Reimbursement

November 26, 2024September 28, 2021 by Justin Nabity

Malpractice insurance. Life insurance. Group disability Insurance. As a physician, you probably already carry several types of insurance.

But, depending on the type of physician you are, there may be one more type of insurance you may need:

Business overhead expense insurance.

BOE is a must for any physician who owns all or part of a practice. It provides coverage for business expenses that are tax-deductible should you be unable to work.

Ready to learn what it’s all about?

Here’s our full guide to physician practice disability: BOE reimbursement.

How COMDEX Ratings Help You Choose Disability or Life Insurance

July 6, 2022September 13, 2021 by Justin Nabity

Man and woman couple smiling. Each has a smiling child on their back.

With so many different life insurance and disability insurance policies to choose from, physicians need to do their due diligence in selecting the right one. And selecting the right policy begins with finding the right insurance company.

When choosing a life insurance or disability insurance policy, many people rely on the advice and recommendations of independent insurance agents and financial advisors. Others prefer to do their own research, obtain individual quotes, and weigh the pros and cons of various policy terms and benefits.

Whether you have an expert helping find the best policy or prefer to do the legwork yourself, here’s something that may help you make an informed decision:

Comdex ratings.

Every physician needs the protection of life insurance and disability insurance. If you’re in the market for your first policy or looking to get an additional one, here’s how Comdex ratings can help you choose a life and disability insurance company.

Physician Disability Insurance: When to Apply

August 7, 2023July 19, 2021 by Justin Nabity

To lock in the most favorable rates, apply for own-occupation disability insurance months before joining a practice.

Disability insurance is one of the important components of protecting a physician’s practice. Its cost is a function of many things. Some of which include the physician’s age, health history, state of residence, and specialty. There is no “one size fits all” disability insurance plan.

However, leading experts agree it is best to lock in discounts where possible, before it is too late.

Don’t Get Short-changed by Short-sighted Savings in Disability Insurance

October 19, 2022July 19, 2021 by Justin Nabity

Fully protect the investment you have made in your earning potential

Physicians often share other disability plan ideas they have been told about. We love when this happens so we can help them compare their options. But there is a concerning trend in these plans. We are seeing a shift in the definition of “total disability.” As a result, this shift leaves physicians exposed to risk. This risk often comes without significant cost savings when compared to more comprehensive plans. These plans are being marketed as being physician-specific because they cover occupations in the medical field. However, we would like to highlight the main difference from the “true own occupation” plans we recommend to our physicians. This difference might outweigh any premium savings. In addition, these methods can help you avoid any short changed issues that may occur due to short-sighted savings.