From a young age, you, like most physicians, began thinking about the future in a proactive way. You likely spent years planning your education and life course, and continued to work hard to achieve your goals so your future would be secure. Once your career began, you sought out financial guidance from trustworthy sources - after all, what is the merit in working hard if it doesn’t pay off in the long term?
One of the many points of pride for Texas is the number of independent physicians who practice in the Lone Star State. Although an increasing number of physicians across the country are leaving private practice to become hospital employees, many Texas physicians are able to retain their independence. According to the 2016 TMA Physician survey, 26% of those surveyed are in solo practice, another 22% are group practice owners who are co-owners or shareholders and 5% are in partnerships.*
A disabling illness can strike any time, lasting from a few months to a lifetime. The most common causes of long-term disabilities — musculoskeletal and connective tissue disorders, cancer, injuries and poisoning, mental disorders and cardiovascular and circulatory diseases — can affect your ability to perform the specialty you were highly trained to do. That’s why many physicians are searching for affordable “own occupation” coverage.
As a physician, you know that you have many people counting on you. You support your family and friends, your patients, important causes, and you plan for your own future needs. This awareness leads most physicians to secure a long-term disability insurance policy early in their career. Yet some physicians may underestimate how much disability insurance they need, they may be tempted to save money by buying less coverage, or they may not have revisited their disability insurance needs for many years.
Homeownership has often been called the American dream - but for some physicians, owning a home is not yet a practical choice. Perhaps you are quite early in your career and you aren’t ready to put down roots, or maybe you want to pay down medical school debt before buying a house. For many reasons, renting a house or apartment may be a more suitable option. Whether you’re looking to cut expenses or save up for your dream home, there is one thing you should not be without: practical, affordable renters insurance.
According to recent data by the National Association of Insurance Commissioners, Texas has the third-highest homeowners insurance premiums in the United States. One of the reasons for this is that Texas has a high level of insurance claims due to bad weather. If you would like to protect your home and reduce the risk of damage, thereby reducing the overall cost of insuring your home, consider the following renovations and upgrades.
Families across Texas are busy shopping and packing, getting ready to send their sons and daughters off to college this fall. If your family is in this situation, we have some important information that you need to know.
Like many physicians, you may believe that your individual long-term disability insurance and savings would help protect you, if you were unable to work due to an illness or injury. But individual disability benefits are designed to cover your personal and family expenses, not pay overhead expenses for your practice.
