Women physicians need disability insurance to help protect their income. In fact, they may need it more than their male colleagues. Statistically, women are more prone to become disabled than their male counterparts, thus disability insurance rates are higher.¹ Research shows that over 22.3% of all disabilities for women are related to pregnancy.² Consequently, disability insurance premiums for an individual policy are typically 40-50% higher for women compared to the rates for men.³
TMA Insurance Trust believes that every physician, both men and women, has the right to help protect their income with the right long term disability coverage for the right price.
If you are practicing as an employee and receive disability insurance benefits from your employer, you should consider the following possible limitations with your coverage:
- A standard disability policy through your employer generally covers 60-65% of your salary.
- The monthly benefit is often capped by your employer - typically $10,000/month.
- The length of time you can collect benefits is most likely limited.
- When premiums are paid by your employer, the benefits are taxed as income, further reducing the benefit you receive.
- The coverage is not portable. That means, when you leave your employer, your coverage doesn't go with you. This could make it difficult to secure replacement coverage if you are older or have health concerns.
Our Solution - A Plan That Doesn’t Discriminate
The TMA Member Long Term Disability plan, issued by The Prudential Insurance Company of America, uses gender-neutral rates. This plan, available only to TMA members, provides an exclusive benefit to physicians in Texas. Members have access to quality own occupation disability insurance that is equal in cost and coverage - regardless of gender. When compared to the rates for an individual disability insurance plan, this blended rate greatly favors women physicians and can provide savings of 40-50% off of the normal female premium rates.
In addition to having gender-neutral rates, the TMA Member Long Term Disability Insurance Plan is a group plan, which can be significantly more affordable than an individual policy and easier to apply for. Plus, the TMA Member Long Term Disability Plan comes with an exclusive premium credit – a 25% savings on our regular rates. This could save you thousands of dollars over the course of your career.
Some benefits of this plan include:
- Own Occupation disability benefits are paid until you reach Social Security retirement age.
- You can apply for a benefit of up to $4,000/month regardless of your income and regardless of any other disability coverage you have through another carrier. Higher coverage amounts are available with simplified underwriting.
- Ability to customize your individual plan for higher amounts of coverage.
- Student Loan Reimbursement (SLR) benefit – additional payment of up to 25% of your monthly benefit for members under age 40 – up to a maximum benefit of $250,000 at no additional cost.
- Catastrophic Disability benefit – additional 20% of your monthly benefit for a covered catastrophic disability.
TMA Insurance Trust has simplified the process of helping you protect your finances with our TMA Member Disability Calculator. This easy-to-use tool will help you calculate your rate in minutes. We have streamlined the application process so you can go online and better protect your income quickly and efficiently.
Achieving financial success is hard work, therefore, protecting the income you have come to rely on needs to be a priority. TMA Insurance Trust would like to encourage women physicians to secure their own disability plan so they can help protect more of their income. Our advisors are dedicated to assisting all physicians in Texas with getting the income protection they need. Contact an advisor today to learn of the best disability insurance plans to fit your requirements. Call 800-880-8181, Monday through Friday from 8:00 am to 5:00 pm, CST.
For over 65 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry.