Consider the following scenario that could possibly happen to you:

You’ve been hurt in an accident and you’re told it could be months before you can get back to work. Once the physical and emotional pain has subsided, you begin to think about practical matters – like your finances and how your family will get by without your steady paycheck.

You’re not worried because you obtained disability insurance long ago.

Most likely, however, your life has changed since then. Your income as well as your family have probably grown. And it’s possible that the coverage you have may not be enough to cover your current living expenses – like your mortgage, your monthly bills, or even your student loan payments. And suddenly you realize that your finances – and the savings you’ve worked so hard for – could quickly be devastated.

“It was an accident!” Those words, often spoken mournfully, demonstrate that as common as accidents are, we are often unhappily surprised by them. And indeed, accidents are very common. In the United States, every 7 seconds a disabling injury is caused by a motor vehicle crash,* and 1 in 5 Americans visit the emergency room at least once a year.**

When you or a family member is injured, you know that your medical insurance will take care of a good portion of your medical bills, but there are additional expenses (medical and non-medical in nature) that can accumulate quickly. How can you financially prepare for this unhappy situation?

Most people – including physicians – appreciate the value of life insurance. It is generally considered an essential way to help provide for your family’s financial security when you are no longer here.

But recent research has uncovered a significant finding: Overall there are 102 million uninsured and underinsured Americans who know they need (or need more) life insurance coverage.*

So what is the stumbling block to getting more coverage? Many seem to believe that the process of trying to obtain more coverage would be a time-consuming hassle. As a result, physicians with demanding workloads may feel they just don’t have time to get the life insurance protection they need.

The long hours of study, the grueling night shifts, the heavy burden of student loans. As a female physician it’s obvious that you have paid your dues to get where you are today. And it goes without saying that you have worked just as hard as your male counterparts to achieve your goals.

So if you were told that your rates would be higher for long term disability insurance than those paid by male physicians – for the same level of coverage – you might be somewhat surprised and more than a little disappointed.

Most physicians carry health and disability insurance. But if a serious, potentially life-threatening illness were to strike, will your finances be adequately protected? Health insurance will cover some medical costs, and a disability policy will cover some of your lost salary. How could Critical Illness insurance help you in these circumstances? By paying a lump sum benefit of up to $250,000 when you're diagnosed with a serious, life-altering condition. Find out more about this coverage and how it can help you.

There’s truth to the idea that says: You can’t predict an accident, but you can prepare for one.

Accidents can happen to anyone, at any time. But while we can’t know if or when a serious injury or accident might occur, we may at least help protect ourselves and our family from the financial fallout of such a life-changing event. That is the value of Accidental Death and Dismemberment (AD&D) insurance.

How did you fare during this year’s cold and flu season? A cold or bout with the flu can slow you down - perhaps you missed a few days of work - but before long, you were back to your routine of seeing patients and taking care of your practice. Minor illnesses create minor inconvenience, and these are overcome quickly. But if you are a practice owner or partner, what would happen to you if you became seriously ill or injured? Without the proper protection, these can create major stumbling blocks that are able to destroy your practice and your financial livelihood.

When you graduate you will embark on a new chapter in your professional life. You’ll be starting a new job – with new responsibilities, working with new colleagues, maybe even moving into a new home and starting a family.

Before you graduate, however, we want to remind you about the benefits that come with your TMA membership – some of which, you may not even be aware are available to you. This could be a good time to review those benefits, as they can be very valuable, particularly when you transition to the next phase of your career.