While some disabilities can prevent you from working completely, other conditions may only reduce your working capacity partially. For example, chronic pain or degenerative conditions may force doctors to work fewer hours or meet with fewer patients which can substantially reduce their earnings without qualifying as a total disability.
A residual or partial disability rider can ensure that your income is supplemented in the event that:
- You are able to perform some but not all, of the material and substantial duties of your job.
- You are unable to work in your job for a certain percentage of time.
Different policies will offer different definitions, requirements, and benefit periods for partial disabilities. For example, many policies require that a physician has lost at least 15-20% of their income before they can qualify for a partial disability benefit. Partial disability benefits usually constitute 50% of a full disability benefit, but the exact percentage may vary by policy.
Most carriers will allow physicians to purchase basic or enhanced disability riders. Every physician needs at least some financial protection in the event of a partial disability. While an enhanced residual rider will cost more money than the basic version, you can expect to receive longer guaranteed benefit periods, less restrictive partial disability definitions, and higher residual benefit payments.
Available Options
- 15% Loss of Income
- 20% Loss of Income
