“That won’t happen to me.” Though no one wants to dwell on the possibility, succumbing to a serious illness or injury is alarmingly common.

For example, during the 2017 calendar year in Texas, 17,571 people sustained serious injuries in vehicle crashes*. (This figures to be 2 people each hour!) As an independent physician, what would happen if you were the injured party and you could not practice medicine for several months? Think about your practice...Who would see your patients? How would you cover salaries for your employees? How would you pay your lease and utilities?

You likely have personal disability insurance, but this coverage is designed to help protect only your personal income - not your business expenses. It is vital to insure both your personal interests and your practice’s good health. To that end, consider the benefits of TMA Member Business Overhead Expense Insurance.

Filling Your Shoes While You Recover

If you are seriously ill or injured, your recovery may take many weeks or months. While you recover, your patients will still need to see a physician. A locum tenens physician can care for your patients while you are away so they don’t have the need to go elsewhere for medical care. Business Overhead Expense insurance can help cover the significant expense of hiring a replacement. Without this insurance protection, a small practice owner may find once they get well, they may no longer have a viable practice to return to. A serious illness or injury could have permanent financial consequences.

Help Keep Your Practice Stable While You Recover

The benefits from your Business Overhead Expense Insurance can be used to help cover the many expenses your practice will incur while you are away: lease or mortgage payments, employee salaries, payroll taxes, utilities, office supplies and equipment, maintenance services, loan payments, property taxes, and more. In a very real sense, this coverage can help keep your practice viable for those who rely on it: yourself, your patients and your employees. It helps protect everything you have achieved through hard work, and can maintain your professional standing in the community as well as the momentum your practice has built.

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Special Benefits While You Recover

TMA members have exclusive access to the TMA Member Business Overhead Expense Plan issued by The Prudential Insurance Company of America, which has special benefits that were designed with member needs in mind.

• This plan pays a monthly benefit of up to $50,000 per month.
• The TMA Member plan pays benefits up to 24 months; twice the benefit period of some other carriers.
• This plan offers a lower cost when compared to some competing plans – a great value for TMA Members.
• This plan makes the first payment retroactively after you have been disabled for 30 continuous days.
• During the time you are disabled, your premiums are waived, so coverage will continue at no cost to you.
• If you suffer even a partial disability, you can still receive benefits.
• The policy pays a monthly benefit based on your actual overhead costs so you don’t pay for more coverage than you actually need.

At TMA Insurance Trust, we appreciate your dedication and value the investment you’ve made in your practice - know we are deeply committed to your success. Now is the time to help protect your practice and your future with a TMA Member Business Overhead Expense Plan. Choosing this coverage involves many individual considerations, so we invite you to consult free of charge with one of our knowledgeable advisors. He or she can help tailor a plan that takes into account your specific circumstances.

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.