--- title: Help Prevent the Risk of Financial Hardship with Disability Insurance description: Taking action and investing in the protection of your income can help lessen the chance of experiencing severe financial hardship. image: https://www.tmait.org/hubfs/May%202023/May%202023%20Week%201%20-%20Disability.1.png --- - [800-880-8181](tel:800-880-8181) - [CONTACT US](https://www.tmait.org/contact) - [SELF-SERVICE PORTAL](https://tmait.aebsys.com/#/) [![](https://www.tmait.org/hs-fs/hubfs/TMA%20Insurance%20March%202019/Image/logo.png?width=197&name=logo.png)](https://www.tmait.org/) Topics All Accident Insurance Accidental Death and Dismemberment Auto & Home Insurance Auto Insurance Business of Medicine Business Overhead Expense Insurance Comparing Insurance Providers COVID-19 FAQs Critical Illness Insurance Dental Insurance Disability Insurance Employed Physicians Family Featured Financial Advice Group Benefits Group Coverage Health Insurance Homeowners Insurance HSA Independent Contractor Independent Physician Individual Coverage Insurance For Good Insurance for Women Insurance Review Key Person Insurance Life Events Life Insurance Locum Tenens Medevac Insurance Medical Insurance Medical Practice Medicare Medicare Part D Medicare Supplement Medigap Nearing Retirement Office Overhead Expense Insurance Open Enrollment Personal Umbrella Insurance Pet Insurance Practice Management Practice Managers Practice Owners Prescription Drug Coverage Renters Insurance Residents Retired Physicians Retirement Short Term Disability Short-Term Medical Insurance Supplemental Hospital Indemnity Insurance Term Life Insurance Travel Insurance Vision Insurance Women Physicians Young Physicans Young Physicians ![](https://www.tmait.org/hubfs/May%202023/May%202023%20Week%201%20-%20Disability.1.png) [Disability Insurance](https://www.tmait.org/blog/topic/disability-insurance) # Help Prevent the Risk of Financial Hardship with Disability Insurance 4 May 2023 [![May 2023 Week 1 - TMA Member Insurance Insight.2](https://www.tmait.org/hs-fs/hubfs/May%202023/May%202023%20Week%201%20-%20TMA%20Member%20Insurance%20Insight.2.png?width=386&height=450&name=May%202023%20Week%201%20-%20TMA%20Member%20Insurance%20Insight.2.png)](https://info.tmait.org/talk-with-an-advisor-about-long-term-disability)“An ounce of prevention is worth a pound of cure.” Benjamin Franklin’s wise proverb is one you likely reiterate to your patients in some form. As a physician, you understand that taking preventive measures to protect against illness or disease is far better than spending time and resources addressing a medical issue after it has already occurred. The same holds true when it comes to your financial security. **Don’t wait until a disability strikes to discover that your hard-earned income isn’t properly protected**. Taking action and investing in the protection of your income can help lessen the chance of experiencing severe financial hardship. ## How Much Disability Insurance is Enough? Whether you are just starting your career or have been practicing for years, **obtaining sufficient disability insurance is essential to protecting your income. **Employed physicians and independents face crippling risks to their financial health if they don’t take the time to review their insurance needs and secure enough disability coverage. **Independent physicians are most at risk because**: - They need to secure their own disability insurance. - Many have no disability insurance at all, or, they purchased a policy years ago and are now underinsured - especially given the eroding effect of inflation. - Their premiums may be paid as an expense of their practice - instead of paying them out of their personal income - so their benefits may be taxed and reduced. **Employed Physicians have hidden limits on their employer-provided coverage:** - Their benefit is limited to 60%-65% of their salary. - Employers impose a cap on the benefit amount they can receive every month – typically $10,000 or $120,000/year. Therefore, if the physician earns over $200,000/year, they will receive no benefit for any salary over $200,000. For example, a physician who earned $250,000 and became disabled would receive $120,000 in total benefits before taxes and have $130,000, or 52% of their total salary not replaced. - Their employer may limit the length of time they can collect benefits. - When the premiums are paid by their employer, benefits are taxed as income, so benefits are reduced even further. - Coverage is not portable, so they will lose their coverage when they leave their place of employment. If their health has diminished, they would have to pay a high premium to replace the coverage or may be denied altogether. Awareness of these risks can mean the difference between financial security and significant loss to your savings and investments. Now that you know, **it’s time to be proactive. **Plan to ensure that your disability benefits will cover your current monthly expenses. [![We're here to help - CLICK HERE or call today](https://no-cache.hubspot.com/cta/default/400074/002e0a30-02df-4501-856d-51506fe7c0f7.png)](https://cta-redirect.hubspot.com/cta/redirect/400074/002e0a30-02df-4501-856d-51506fe7c0f7)***[800-880-8181](tel:800-880-8181) 8:00 – 5:00 CST Monday – Friday*** ## Significant Discounts, Superior Support TMA Insurance Trust is a full-service insurance agency established by physicians to help protect all physicians in Texas. We work hard to find ways to make vital disability insurance more accessible so you can secure the coverage you need and prefer. **We work with the leading disability insurers and can help physicians secure significant discounts of up to 30% for the duration of the policy, and savings with a 25% statement credit, both of which can save physicians thousands of dollars over the life of their coverage. **As an example of our support, members can apply for up to $5,000 of TMA Member Long Term Disability coverage, regardless of any other disability coverage they have, and with no income verification. This insurance is issued by The Prudential Insurance Company of America. Our licensed advisors have decades of experience regarding the best way to help reduce the risk to a physician’s income. They do not work for sales-based commissions, their goal is to help you protect as much of your income as possible. Their recommendations will be based purely on your needs and which policy will best serve those. There’s no obligation or pressure to buy, and their advice and assistance are available at no cost to you. Get your “ounce of prevention” by discussing the current state of your disability coverage with an advisor as soon as possible. Call 800-880-8181, Monday through Friday between 8:00 am and 5:00 pm, CST. [![New Call-to-action](https://no-cache.hubspot.com/cta/default/400074/ff77bcf5-6019-4bb4-a971-2a441fefe9af.png)](https://cta-redirect.hubspot.com/cta/redirect/400074/ff77bcf5-6019-4bb4-a971-2a441fefe9af) For over 60 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. ** [ Disability Insurance ](https://www.tmait.org/blog/topic/disability-insurance) [, Employed Physicians ](https://www.tmait.org/blog/topic/employed-physicians) ** [Independent Physician](https://www.tmait.org/blog/topic/independent-physician) [**Previous Entries](https://www.tmait.org/blog/maximizing-value-how-to-control-costs-and-get-group-ppo-health-insurance-coverage-group-benefits) [Next Entries**](https://www.tmait.org/blog/disability-insurance-myths-every-physician-should-know-about) ## Recommended Posts ### [Disability Insurance—Without Gender-Based Pricing Discrimination](https://www.tmait.org/blog/disability-insurance-without-gender-based-pricing-discrimination) ### [Mind the Gap: Why Your Employer’s Disability Coverage May Fall Short](https://www.tmait.org/blog/mind-the-gap-why-your-employers-disability-insurance-coverage-may-fall-short) ### [When Your Family Depends On You: Disability Insurance for Physicians](https://www.tmait.org/blog/when-your-family-depends-on-you-disability-insurance-for-physicians) ### [Don’t Let a Busy Schedule Block Your Disability Protection](https://www.tmait.org/blog/dont-let-a-busy-schedule-block-your-disability-insurance-protection) ### [What the TMA Member Disability Plan Includes That Others Don’t](https://www.tmait.org/blog/what-the-tma-member-disability-plan-includes-that-others-dont) ### [Don’t Let These Coverage Gaps Surprise You in Retirement](https://www.tmait.org/blog/dont-let-these-coverage-gaps-surprise-you-in-retirement-medicare) ### [A Physician's Path to Better Disability Coverage](https://www.tmait.org/blog/a-physicians-path-to-better-disability-insurance-coverage) ### [Insurance That Gives Back](https://www.tmait.org/blog/insurance-that-gives-back) ### [Dental Insurance and the Habits It Helps Shape](https://www.tmait.org/blog/dental-insurance-and-the-habits-it-helps-shape) ### [Unexpected Doesn't Have to Mean Unprepared This Summer](https://www.tmait.org/blog/unexpected-doesnt-have-to-mean-unprepared-this-summer) ### [When “Easy Online” Life Insurance Wasn’t So Easy](https://www.tmait.org/blog/when-easy-online-life-insurance-wasnt-so-easy) ### [One Plan for the Year—Travel Insurance That Covers Every Trip](https://www.tmait.org/blog/one-plan-for-the-year-travel-insurance-that-covers-every-trip) ### [Disability Insurance—Without Gender-Based Pricing Discrimination](https://www.tmait.org/blog/disability-insurance-without-gender-based-pricing-discrimination) ### [Mind the Gap: Why Your Employer’s Disability Coverage May Fall Short](https://www.tmait.org/blog/mind-the-gap-why-your-employers-disability-insurance-coverage-may-fall-short) ### [When Your Family Depends On You: Disability Insurance for Physicians](https://www.tmait.org/blog/when-your-family-depends-on-you-disability-insurance-for-physicians) ### [How TMA Insurance Trust Reinvests in You](https://www.tmait.org/blog/how-tma-insurance-trust-reinvests-in-you) ### [Dental Insurance and the Habits It Helps Shape](https://www.tmait.org/blog/dental-insurance-and-the-habits-it-helps-shape) ### [Unexpected Doesn't Have to Mean Unprepared This Summer](https://www.tmait.org/blog/unexpected-doesnt-have-to-mean-unprepared-this-summer) ### [When “Easy Online” Life Insurance Wasn’t So Easy](https://www.tmait.org/blog/when-easy-online-life-insurance-wasnt-so-easy) ### [One Plan for the Year—Travel Insurance That Covers Every Trip](https://www.tmait.org/blog/one-plan-for-the-year-travel-insurance-that-covers-every-trip) ### [Disability Insurance—Without Gender-Based Pricing Discrimination](https://www.tmait.org/blog/disability-insurance-without-gender-based-pricing-discrimination) ### [Mind the Gap: Why Your Employer’s Disability Coverage May Fall Short](https://www.tmait.org/blog/mind-the-gap-why-your-employers-disability-insurance-coverage-may-fall-short) ### [When Your Family Depends On You: Disability Insurance for Physicians](https://www.tmait.org/blog/when-your-family-depends-on-you-disability-insurance-for-physicians) ### [How TMA Insurance Trust Reinvests in You](https://www.tmait.org/blog/how-tma-insurance-trust-reinvests-in-you) ## Speak with a TMA Insurance Trust Advisor: TMA Member Long Term Disability Plan is issued by The Prudential Insurance Company of America, Newark, NJ. The Booklet-certificate contains all details, including any policy exclusions, limitations and restrictions, which may apply. CA COA #1179, NAIC #68241. 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