When most people think of life insurance they typically think of the protection it can help provide for their family. But if you are a practice owner life insurance can be valuable for another reason – it can play an important role in helping to provide financial security for your practice. In fact, life insurance can be as vital for the financial well-being of your practice as it is for your loved ones.

As the month of November nears, many physicians and practice managers must turn their attention toward health insurance decisions for the coming year. Are you satisfied with your health insurance coverage, and the level of service you have received from your agent? Do you think that you are getting the best value possible for your investment? Find out what you need to know as you prepare to make health insurance decisions for your family and practice.

As a physician, you have worked hard to achieve much in your life. As you plan for your future, you think of investment strategies and savings plans. If something should happen to you, financial protection for your loved ones is of paramount importance.

One of the best ways to offer immediate financial protection is to obtain a term life insurance policy, whereas many savings plans and investment strategies require time to build value. Once you are approved for a term life insurance policy, your amount of coverage is in place, and immediately helps to provide protection. Term life insurance provides financial protection for your family when they need it the most.

A recent survey by the financial website NerdWallet.com shows that American drivers are overpaying an average of $368 a year for auto insurance. One reason could be that auto insurance carriers change their rates many times throughout the year to account for different risk factors.

Imagine it’s a hot summer day, you’re at the beach and the sun is blazing. So what do we do for protection? We spread on the sunscreen.

But what if we miss a spot – say, on our back, arm, or leg? Well, you know what happens. If we leave a part of our body exposed, that night we’ll likely be treating ourselves for painful sunburn damage.

As a practice owner, you are acutely aware of the many considerations that are involved in successfully running your practice. You know the things that make your practice unique, that make it your own. You also know well the extraordinary amount of expenses that you need to cover every month ... the many thousands of dollars that it takes to keep your practice operating. What would happen to your practice if you became sick or were injured and unable to work for an extended period of time?

For most physicians disability insurance is a “no brainer.” It helps provide an income if you become ill or injured and cannot work for a long period of time. As such it is considered essential insurance protection for any physician actively practicing medicine.

As your life changes, your needs for health insurance change as well. Perhaps you are about to change employers, complete your residency, open your own practice, get married, or welcome a new child. If so, all of these life changes (and more) can affect your need for health insurance. Because health insurance coverage is part of your essential insurance protection, we are here to guide and support you in making the right choices at the right time. Let us help you choose the right coverage for your needs at the best price available.