As you know, a disability can happen to anyone. According to the Council for Disability Awareness, 1 in 4 of today’s 20-year olds will become disabled before they retire. In addition, statistics show that 1 in 8 workers will be disabled for five years or more during their working careers. With statistics like these, it’s pretty hard to turn your back on disability insurance.

The truth is, having a disability will inhibit you from living your life the way you want to and from earning a living. As a physician, you have a high standard of living  and you want it to stay that way, which is why you’ve decided to buy disability insurance.   

The celebration of life – there is nothing more exciting than learning you and your partner are soon expecting a bundle of joy. There will be a whirlwind of tasks to complete before the arrival date, from preparing the new nursery and purchasing a variety of essentials to attending regular doctor visits and planning a shower. In the midst of all of these responsibilities, don’t forget to update your financial plan by bringing your current insurance policies up-to-date.

Life insurance – a touchy subject, but one that everyone should talk about at some point. Unfortunately, there are many myths when it comes to life insurance, which is probably why so many people skip coverage. In fact, according to LIMRA, only 70% of American families own some type of life insurance. Plus, it doesn’t help that thinking about life insurance also means that we have to think about our own mortality. A very unpleasant thought.

Whether you recently finished medical residency or are an established Texas physician, it is never too early to begin thinking about retirement and discussing your future with a financial advisor. While carefree days spent traveling, volunteering or golfing in Florida may seem far off, they become a reality once you have a plan in place. Having an open dialogue and honest conversation about how you envision retirement enables you and your advisor to map out a plan and schedule routine, follow-up visits to ensure you are staying on the right path.

“If you get hurt or become too sick to work, what happens to your income?” It’s one of the first questions that Scott Dial, a disability-income expert who works with TMA Insurance Trust, asks medical residents and new physicians. For some people — 40 percent, to be exact — that answer is usually “I don’t know” followed by “I think my employer has something,” or “my spouse will have to work.” The average healthy person is rarely counseled on handling a disability.

If you are a Texas physician who owns or co-owns a practice, you know there is a lot at stake in addition to your patients’ health. All of the time, energy, money and planning put forth for the practice to be successful should be protected – this is where an Office Overhead Expense Insurance policy comes into play.  

An overhead policy can help keep your office running smoothly in the unexpected event that you or another physician becomes disabled and cannot work. Adding up employee’s salaries, utilities, rent, taxes, equipment leases, and other miscellaneous fees, bills begin to mount quickly and can be an added burden upon the practice and the physician while recuperating. Office Overhead Expense Insurance can help keep the doors open and assist you in a variety of ways.

Life insurance is an important aspect of financial planning and something on the mind of many Texas physicians. While you may already be aware of why a life insurance policy is crucial to the protection of your family, you may be wondering which life insurance provider may best for your needs. With so many companies offering quality products with good benefits, it can be difficult choosing one over the other.

It is no secret – going to the dentist can cost a pretty penny, especially if dental insurance is not in the equation. Because of rising dental costs, more and more people are seeking to acquire an individual dental insurance policy. As a physician, you know the importance of good oral health. Scientific studies continue to show an association between multiple health conditions such as heart disease and diabetes, and dental health.