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.

Locum Tenens Coverage: Disability, Health, Malpractice and More

January 3, 2025July 5, 2021 by Justin Nabity

Working in medicine is unique in that the title of “physician” means many different things.

Some physicians work around-the-clock shifts in hospital emergency departments. Other physicians operate private practices and focus on primary care or preventative medicine. Some deliver babies, some treat cancer patients, and some perform invasive neuro or cardiac surgeries.

Yet, no matter what type of specialty you’re in, all physicians share one thing in common:

The ability to perform their work anywhere in the world.

Tech experts might be most in-demand in Silicon Valley. Professional actors are more sought after in LA than in Idaho. On the other side of the coin, physicians can work in any and every major city, small town, and rural part of the world.

The vast majority of physicians work full-time jobs in or near the city in which they live. But a growing number of U.S. physicians, approximately 40,000, choose to work locum tenens positions.

Working as a locum tenens physician has many benefits, but before you give up your job search or quit your full-time gig, there’s something you should consider:

What types of insurance will you need?

If you’re considering working locum tenens, here are the top five types of locum tenens insurance coverage you will need.

Do Surgeons Need Hand Insurance?

June 10, 2024February 20, 2021 by Justin Nabity

As a full-time surgeon, your hands are one of your most significant assets. Without the use of your hands, you simply cannot do your job.

So what would you do if you suffered damage to one or both of those appendages?

From common conditions, like nerve damage and arthritis, to more severe situations, such as losing a finger, your entire career as a surgeon would be at risk if you no longer had full function of your hands.

And this is why so many surgeons consider getting hand insurance.

What exactly is hand insurance?

How much does it cost?

Is it something a surgeon should have?

Today we’re answering the question that so many physicians want to know:

Do surgeons need hand insurance?

Nationwide Life Insurance Review

December 27, 2024December 14, 2020 by Justin Nabity

Many people think that life insurance is just another way to leave our heirs some money when we die, a way to provide them a safety net should the family suffer a loss of income.

And while that is the primary reason for having a life insurance policy, it’s certainly not the only one.

Depending on the policy you select, it can also be a tool for retirement planning and long-term financial planning.

But not all life insurance policies are the same. There are many distinctions and variables that can make it hard to choose one.

As part of our continuing series of life insurance provider reviews, today we’re profiling Nationwide.

This Nationwide Life Insurance review can be used as a guide to help you learn more about what types of insurance Nationwide offers and if they are the right insurer for you.

GSI vs. Non-GSI: Should Your Insurance Policy Have a Health Screening?

July 3, 2025December 3, 2020 by Justin Nabity

Disability insurance is the single best way that physicians can protect their future income if they become ill or injured and cannot work. And while there are hundreds of different policies out there that offer different benefits and terms, there is one thing that almost all have in common:

You’ll need to undergo a health screening before the insurance company starts the underwriting process.

But that is not the case with GSI.

GSI policies do not require a health screening or medical examination. That can certainly make it easier to get coverage, but that doesn’t necessarily mean that it’s better.

What Physicians Should Know About Mortgage Disability Insurance

November 28, 2022November 3, 2020 by Justin Nabity

It’s easy to understand the value of having homeowners insurance, auto insurance, and term life insurance. These standard insurance policies are affordable, easy to get, and clear-cut regarding what they cover and why you need them.

But there are countless other insurance products on the market that aren’t so easy to understand.

One of those is mortgage disability insurance.

What exactly does it cover? How is it different from regular disability insurance? Is this an insurance policy that physicians should have?

From what it costs to who it benefits, here’s everything that physicians should know about mortgage disability insurance.

How Much Disability Insurance Do Physicians Need?

August 22, 2023August 28, 2020 by Justin Nabity

Malpractice insurance, auto insurance, health insurance, business insurance, homeowner’s insurance: physicians are required by law to carry various insurance policies. Many other important insurance policies are completely optional.

And one of those optional insurance policies is disability insurance.

Yet as a physician, you shouldn’t think of disability insurance as an option at all. That’s because it’s one of the single best ways to protect your finances and protect your income.

But how much disability insurance do you actually need? When should you get it? Do you need it forever?

Today we’ll be answering the question that many physicians have: how much disability insurance do physicians need?

What to Do When Your Physician Disability Insurance Benefit Period Ends

November 27, 2024July 1, 2020 by Justin Nabity

When you purchase a disability insurance policy, one of the decisions that you’ll need to make is how long you want your disability insurance benefit period to last. Your choice can significantly affect your insurance premium payment amount. However, it can also determine how protected you will be in the case of an unexpected tragedy.

One in four of today’s 20-year-olds will have faced a disability of some kind before they retire. With those odds, it’s hazardous to lack financial protection against disability. Especially as a high-income earning physician.

To better understand the consequences, this article will break down the ins and outs of short and long-term disability benefit periods. And help you to take some decisive action now to protect your finances in the future.

Physician Disability Insurance: Post-Claim Underwriting Explained

October 20, 2022July 1, 2020 by Justin Nabity

Having disability insurance is one of the best ways that physicians can protect their future income. Disability insurance can pay most of your income if you become too ill or injured to work. You can use the insurance money to pay for your mortgage, medical bills, utilities, car payments, other financial obligations and investments or … Read more

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

Fully protect the investment you have made in your earning potential

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