If you are a high-earning physician and shopping for disability insurance, we have some information that may surprise you. Traditional long-term disability insurance generally protects up to 60% of an average physician's income. But traditional disability policies that most carriers offer are not designed to meet the needs of higher income earners; in fact, traditional coverage may actually leave you with gaps in protection.
According to statistics, illness is the cause of 90% of all disabilities with 10% due to injuries.* As a physician in private practice, you’re responsible for purchasing your own disability coverage. If you become disabled, you’ll need enough personal disability income to pay out-of-pocket medical costs and living expenses, while also covering your share of the business overhead expenses.
After years of training in your medical specialty and a rising income to protect, many physicians are looking for true "own-occupation" disability protection with sought-after riders, not offered by employer-sponsored coverage. To help members secure quality coverage, TMA Insurance Trust has teamed up with Guardian, one of the foremost disability insurance leaders.
If you are a medical resident, you are likely young and healthy, and rightly feel like the world is ahead of you. Long-term disability insurance is probably the last thing on your mind. However, statistics show that 1 in 4 young adults will become disabled before retirement age. If you should ever become disabled, long-term disability insurance can provide the income to meet your living expenses – and pay back your student loans – while you can’t work.
Most of us do not think a great deal about our teeth unless we’re having problems. We know we should brush and floss twice daily - but because of a hurried schedule, we may rush through the process. Even with the best daily care, due to genetics or other issues, some people may experience pain, decay, and other dental issues.
A lot has happened in your life and career since you signed up for your first Long Term Disability (LTD) policy. As a rule, a typical policy is designed to help protect 60 percent of personal income, if you’re unable to work because of an illness or injury*. If you haven’t updated your policy in years or supplemented your coverage to match your rising income, everything you’ve worked for could be at risk.
If you could take a peek into your future, would that glimpse alter your present decisions? If you could see that disaster was on its way, you would likely plan ahead to avoid the inconvenience and trouble. Of course, we can’t see into the future; but it’s human nature to try to anticipate whether our choices are positive or detrimental. That’s why we read online reviews, seek professional opinions, and gather reliable information. We want the road of life ahead to be as smooth as possible.
In an effort to serve members better, TMA Insurance Trust recently introduced auto, homeowners, renters and umbrella insurance for members. We’d like to take you behind the scenes and show you what makes this program such an exciting new benefit for members.
