Doctors, dentists, attorneys, and other high-earning professionals face a unique financial risk: a serious illness or injury can wipe out both their income and the value of their practice. A 38-year-old attorney who can no longer work loses not just his salary but years of built equity. Disability insurance protects that investment.
Chapters
As highly educated, trained, and skilled professionals—doctors and dentists, attorneys and accountants, architects and engineers—we have much more at risk than most other occupations. Because we've made a substantial investment of both time and money in the education, training, and experience, as well as the office systems and staffing that enable us to earn much higher compensation than other occupations. What's more, the return on this investment will continue for the rest of our lives, not only as our earned income, but also in the value of our practice or business, both of which will continue to increase over the years, making it our most profitable investment and our most valuable financial asset. But when a serious illness or accidental injury prevents us from working and earning our income, we lose the return on this investment and diminish the value of this asset. Like the 38-year-old attorney unable to work more than a few hours