A doctor walks through what to check before buying disability insurance: your income, monthly spending, whether your employer offers group coverage, and how to pick an agent who knows physician policies.
There are several things you should know prior to beginning the process of shopping for a disability policy. These will help you decide not only how much but also which insurance policy to buy. These items include your income as determined by your last W2 1099 or tax return how much you spend each month. If your employer or professional association offers any disability insurance, the process of buying disability insurance is best done by following these steps. Number one Figure out how much insurance to buy. Number two choose an agent or agents to purchase from. Number three Find out if you are eligible for group or association policies and bring them in meeting with the agent. Number four if there isn't an employer discount in place, explore setting one up that could benefit both you and your colleagues. Number five have the independent agent quote the best policies for your specialty, state and gender, including discounts. Number six Make a rational selection, a base policy and needed riders.
Physician Takes a Youth Sports Team to the State Championship - MtoM Podcast #236
