As a physician, you likely have a better income than many, but that’s no reason to spend more than you need to on auto or home insurance. Even if you were happy with your rate when you secured your policy, it is subject to change. Perhaps you may be paying more now than you did at that time. Why not take a look? You may be surprised at the savings.
Spending money to save money may sound counterintuitive, but there are situations where it can be a wise financial decision in the long run. For instance, you likely perform regular maintenance on your vehicle. Oil changes, tire rotations, and other preventive services can help avoid expensive breakdowns. Investing in energy-saving appliances may cost you upfront, but the long-term benefit of lower utility bills is a trade-off many homeowners gladly accept.
When dealing with a health crisis, you may recommend that your patient get a second opinion or, depending on the situation, see a specialist. Take your own advice and get a second opinion about the group health insurance plan you choose for your practice. TMA Insurance Trust advisors specialize in helping physicians in Texas to find better group health insurance plans, get better service, and in some cases, even better rates.
Term life insurance is the preferred choice of life insurance coverage for many physicians. It offers a straightforward and uncomplicated approach, providing immediate protection to your loved ones upon approval. Compared to whole life or permanent life insurance, term life plans are less complicated and more economical.
The advantages of term life insurance extend beyond safeguarding your family and leaving them a legacy should something happen to you. Consider some ways term life insurance can help provide more security in other aspects of your life.
Protect your family by not leaving them exposed to financial calamity should something happen to you. Bolster your life insurance by adding catastrophic accident coverage. The hustle and bustle of a busy practice and career can cause you to be so busy that some of the most basic precautions can be forgotten.The TMA Member Accidental Death & Dismemberment Plan is a convenient solution to help protect your family should a serious injury or death due to an accident happen to you.
Your career, family, and financial obligations are in a constant state of growth. Without warning, even when doing the most mundane tasks - from driving to work, traveling for a vacation or to a conference, a serious accident can occur. You may already have a life insurance benefit set up through your employer. But is it enough?
The loss of a family member can have both emotional and financial implications. If your family lost you to a sudden tragedy, would they also lose financial stability? Without adequate planning, your surviving family members may face difficulty covering daily expenses, mortgage payments, or education costs.
Term life insurance is a valuable financial tool that can help shield your family from economic distress in the event of your passing. It has many other uses too. For example, life insurance can help you meet other financial needs. Use life insurance to protect those who co-signed your education loans. It can be used as collateral to secure a loan to open a practice. If you’re practicing with partners, it can help protect your business interests. Life insurance can even help defray estate taxes and ensure you leave your family the financial legacy you intend for them.
Securing sufficient medical insurance coverage as you approach your 65th birthday is crucial. Even as a physician, deciding on which plan is right for you can be a complicated task. Fortunately, TMA Insurance Trust can help you examine your options when considering Medicare Supplement and Part D prescription insurance so that you can make informed decisions and avoid costly mistakes.
Waivers and options available during Open Enrollment can make it a beneficial time for physicians to get the group PPO health insurance coverage they prefer more affordably. However, it’s not the only opportunity during the year to access better health insurance while controlling costs.
