The world is changing at mind-boggling speed. It’s hard to predict what our lives will be like in the next 24 hours – let alone in the future.

That said, if our income is exposed to risk – due to the possibility of a serious illness or injury – it could put our long-term financial health in jeopardy.

Your Financial Future May Be Vulnerable

Unfortunately, we have seen from our experience that many physicians may not have taken the steps to provide proper coverage for their income. And we believe that could jeopardize their future financial security.

So we have assembled a range of insurance options – all with exclusive member savings – that could help protect your income at a lower cost than what you would likely find elsewhere.

Help Protect Your Income – And Your Practice

Like most physicians, you know that disability insurance can be essential to your long-term financial stability. It’s important because it can help replace income if an illness or injury prevents you from working for a long period of time.

But long-term disability insurance is primarily intended to help with your personal expenses – like mortgage payments, your education loans, school tuition for your children, household expenses and even putting away savings for your retirement.

But what if you are a practice owner?

What would happen to your practice if you were out sick for an extended period of time? How would your rent and office expenses be paid? Who would see your patients and pay the staff? How would your practice survive if you could not go to work?

This is where Business Overhead Expense insurance comes in. It can help cover expenses from your practice – whether you are a solo practitioner or work with partners. These can include rent, mortgage and loan payments, staff salaries, utilities, taxes, even the cost of a locum tenens physician to take over in your absence.

Members Can Save On These Plans

With the financial pressures everyone is feeling at this time, we believe saving money on these kinds of vital protections can be a welcome benefit for TMA members.

It can be particularly valuable for those who own a practice because you bear the full responsibility for generating both your personal and practice income.

The following options include savings opportunities for long-term disability and Business Overhead Expense insurance – some of which are only available through TMA Insurance Trust:

• Exclusive member savings – The TMA Member Long-Term Disability Plan is issued by The Prudential Insurance Company of America and comes with an exclusive 25% Thank You Credit* – effectively reducing our regular rates by 25%. It can be an affordable way to supplement your existing disability coverage and features a time-saving, simple application process.
• Exclusive discounts from Guardian –Take advantage of exclusive TMA member discounts from Guardian, a leader in individual disability insurance. Discounts begin at 10% and increase up to 20% – for every year of the policy.
• Exclusive high-limit disability plan – This plan is from renowned Lloyd’s of London. It is not constricted by the limits domestic carriers can place on the amount of coverage you can have – so you can get a monthly benefit of up to $100,000.
• Exclusive TMA Member Business Overhead Expense Plan – This plan is issued by The Prudential Insurance Company of America. It can provide benefits for up to 24 months and is available to TMA members under age 65 who are working full-time.

Get Unbiased Advice At No Cost

If you would like to discuss which of these plans might work best for you or your practice, we invite you to contact one of our TMA Insurance Trust advisors for a cost-free consultation.

They can help you decide how much coverage you may need and answer any questions you may have.

Our advisors have years of experience helping Texas physicians – especially practice owners. And since they do not work for sales-based commissions you will never feel any pressure or obligation.

We’re Ready Now To Help Protect Your Financial Future

As we live and work through these turbulent times please take a moment to review whether you are doing enough to help protect your income and your practice. A few minutes on the phone with us now could help you protect your financial health as we move forward into a yet-to-be-known future.

You can contact a TMA Insurance Trust advisor for assistance toll-free at 800-880-8181, 8:00 am to 5:00 pm Monday to Friday 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.