What Doctors Need to Know About Disability Insurance #doctor #physicianfinance #fyp

The best disability insurance policy is an individual, portable, own occupation, specialty specific policy. Purchase disability insurance from an independent agent who can show you policies from all of the major companies. As a resident, buy as much disability insurance as they are willing to sell you. Include a future purchase option, sometimes called a benefit purchase rider or future increase option, and a cost of living rider. As an attending, increase your coverage to cover both your living expenses and retirement savings. If you were to work until age 65, you may get sticker shot, but the reason disability insurance is expensive is that it actually gets used. One out of seven doctors actually use the disability insurance they purchase. Do not take the risk of not having disability insurance. Insure your future income today.