And if that injury or illness prevented you from working, you would likely find that your income would quickly diminish and your finances could be seriously threatened. Would you be prepared for that?
Unfortunately, we’ve found that many physicians, contrary to what they might believe, may not have adequate insurance protection.
Some disability insurance specialists estimate you would need only 60%-65% of your salary to live on if you become disabled. They reason that while you’re recovering away from work, your expenses will decrease. But in fact, the opposite is more likely to be true.
You’ll likely find a surprising amount of expenses related to your disability. On top of that you’ll have ongoing living expenses – like mortgage payments, utility bills, groceries, school tuition, etc. These will continue to pile up unabated for you and your family. That can result in a growing gap between the disability coverage you may have and the cash benefit you’ll very likely need.
To estimate just how much disability coverage might be appropriate for you and your family, we’ve created a simple online tool to help you see how much of your income is not protected through retirement. Once you know how much of your income is unprotected, you can explore ways to get coverage that works for your needs.
Our Unprotected Income Calculator is quick, easy to use and privacy protected. Click here, to try it now.
We understand that cost can be a factor when looking for disability insurance – especially in today’s economy. So we offer plans from leading carriers that come with considerable savings.
Here are some examples of Own Occupation disability plans with special offers for TMA members:
Whether you’re seeking coverage for the first time, or you already have a plan but would like to expand your coverage, our advisors can help you determine the best way to protect your income and preserve your finances.
In addition to helping you find a new plan, they may suggest a way to increase your coverage by layering a supplemental policy on top of your existing plan. That way you can keep the coverage you already have without having to buy a new plan with benefits you may not need.
They can also help you choose the most beneficial timing for your new policy’s waiting period to be sure it works in tandem with your existing coverage. Adding a plan with a shorter waiting period may help you get some of your benefits more quickly, while a plan with a longer waiting period may help you get a more affordable rate. Please speak with one of our advisors to help determine the mix of benefits and features that can work best for you.
Our advisors have been working with Texas physicians for over 65 years to help them protect as much of their income as possible. Let them help you get the best disability coverage at a cost that works for your budget. Call for a free, personal consultation at 800-880-8181 Monday through Friday, from 8:00 am to 5:00 pm, CST.
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.