This is a YouTube video titled "Should I Get Disability Insurance as a Resident #doctor #physicianfinance#fyp" created in June 2024. The content is a monologue or presentation discussing the importance of long-term disability insurance for medical residents, outlining twelve reasons why residents should consider obtaining such insurance early in their careers to protect their financial future.
Long term disability insurance protects the most valuable financial asset of a doctor your ability to trade your time for money at a high rate for the next 30 to 40 years. As a resident you should get disability insurance because you have an income. 2. Residents get disabled too. 3. The younger you are, the cheaper the policy is. 4. A policy bought early is more valuable because it has more years to pay. 5. You have less chance of a serious medical condition causing you to not be able to get it or have to pay more for it. 6. You have less time and money for dangerous hobbies. 7. You benefit from a larger benefit to income ratio. 8. A resident might be considered a cheaper specialty. 9. You have access to unique disability products as a resident. 10. Portability matters more because you're definitely going to leave your Residency job number. 11. It locks in your insurability and 12. Your student loans may not go away in the event that you're disabled and you might need that disability insurance benefit to pay on those student loans.
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