Imagine it’s a hot summer day, you’re at the beach and the sun is blazing. So what do we do for protection? We spread on the sunscreen.
But what if we miss a spot – say, on our back, arm, or leg? Well, you know what happens. If we leave a part of our body exposed, that night we’ll likely be treating ourselves for painful sunburn damage.
Help Protect More of Your Income
In a similar way, it’s important for all physicians, whether you are employed or own a practice, to try to protect as much of your income as possible. If you are a practice owner, that means finding a way to help protect both your personal income as well as the income of your practice.
Two Kinds of Insurance For Two Kinds of Protection
In order to help protect both your personal income and the income of your practice, we recommend considering two kinds of insurance. Each is intended to help cover you in the event you become ill or injured and are unable to work.
The first is long term disability insurance. This can help replace your personal income if you cannot work for an extended period of time. It can help cover your family’s living expenses, which could include mortgage and loan payments, school for your children, household necessities, and more.
The second is business overhead expense insurance. This is designed to help pay for the expenses of your practice while you are out – like rent, employee salaries, office equipment, maintenance, even a locum tenens physician to cover for you in your absence.
We Say “Thank You” – You Pay 25% Less
TMA Insurance Trust considers both of these types of insurance to be essential protection, so we want to help make it easier for you to obtain each kind of coverage.
To that end, we are currently providing a 25% Thank You Credit to all members who enroll, or are already enrolled in the TMA Member Long Term Disability Insurance Plan (LTD). We also offer the TMA Member Business Overhead Expense Plan (BOE) so you can help protect your personal and practice income. Both plans are issued by The Prudential Insurance Company of America.
The credit on the TMA Member Long Term Disability Plan is equal to 25% of your insurance premiums. That means your premium payments will be 25% lower* – which could effectively save you thousands of dollars over the life of each policy.
And while your premiums will be lower you will receive the same exclusive benefits that have proved to be popular with our members.
This is our way of saying “Thank You” for your support by helping to make it easier for you to afford this important insurance protection.
1-800-880-8181 7:30 – 5:30 CST Monday – Friday
A Quality LTD Plan With a Quick Application
The TMA Member Long Term Disability Plan provides attractive rates and valuable benefits from a well known national carrier. And now our 25% Thank You Credit can help make it even more affordable.
There is also a quick and simple application process, which compared to other carriers can provide significant time savings.
In addition, even if you have long term disability insurance from another carrier, you can get a benefit of up to $4,000/month – without income verification and regardless of any benefit you receive from another plan.
This can help supplement another disability plan you may have and provide greater income protection – a good idea in the likely event your income and family have grown since you obtained your original plan. Highlights of the LTD plan include:
- Attractive rates – now even more affordable with the 25% Thank You Credit
- Quick and simple application process – saves time compared to other carriers
- You can apply for up to a $4,000/month benefit regardless of any other coverage you may have
- Up to a $15,000/month benefit available
- Cost of Living Adjustment option
- Student Loan Reimbursement benefit at no additional cost
- Future Coverage Increase option to age 45
A BOE Plan That Works When You Can’t
The TMA Member Business Overhead Expense Plan is designed to help protect your practice if you cannot work due to illness or injury.
The benefits can be used to help cover the many expenses your practice will continue to incur while you are away. It can also help maintain your professional standing in the community as well as the momentum your practice has built.
In a very real sense, this coverage can help keep your practice viable for those who rely on it – your patients, your employees and your family. Highlights of the BOE plan include:
- Up to $50,000 in monthly benefits – Generous benefits will help cover the ongoing expenses of your practice.
- Long payment of benefits – Benefits paid for up to 24 months. If you are under age 70, you may be able to extend some benefit payments for up to a total of 36 months. Speak with a TMA Insurance Trust advisor for more details.
- You are paid for the waiting period – The first payment is made retroactively after you have been disabled for 30 consecutive days
- You do not pay while you’re disabled – Your premium payments are waived while you are disabled so there is no cost to you while receiving benefits
Choose The Best Options For You
We recommend that practice owners consider obtaining each of these plans to help protect their personal and practice income. However, each plan is available individually. Remember, when you enroll in the TMA Member Long Term Disability Plan you will enjoy our 25% Thank You Credit.
If you are not sure about which option, or options to choose, we invite you to speak with one of our advisors. They have years of experience working with practice owners to help find the best solutions that work for them. They do not work for sales-based commissions so their advice will always be given without pressure or obligation.
Please feel free to call us with questions about how you can more fully protect both your personal and practice income – and save. You can call us Monday to Friday, 7:30am to 5:30pm CST at 1-800-880-8181.
You can also return the form below and an advisor will get back to you shortly, or you can apply directly online by clicking the banners above.
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.