--- title: "The Cost of Long-Term Disability: Are You Fully Aware of Your Risk?" description: Whether you are an independent physician or you are employed and only receive coverage through your employer, you see the value in protecting your income. image: https://www.tmait.org/hubfs/May%202018/2018_May_Week_1_Disability_Insurance.jpg --- - [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%202018/2018_May_Week_1_Disability_Insurance.jpg) [Disability Insurance](https://www.tmait.org/blog/topic/disability-insurance) # The Cost of Long-Term Disability: Are You Fully Aware of Your Risk? 19 January 2019 As a physician, you see the importance of having disability insurance in place. Whether you are an independent physician and must purchase your own disability insurance, or you are employed and only receive coverage through your employer, you see the value in protecting your income. Still, some physicians (whether independent or employed) may not have enough disability insurance to adequately protect their finances. If you become sick or injured and are unable to work, will your current disability coverage adequately protect you? Will your family have enough income to sustain the standard of living that you have achieved together? ## Long-term Disability: Counting the Cost Consider the following ways that a disability can strain the finances of you and your loved ones: 1. *Medical Costs*: One of the most obvious ways that a disability can contribute additional costs is the health care expenses associated with your illness or injury. You need to consider what you may spend on co-pays, deductibles, and out-of-pocket costs. 2. *Living Expenses*: Because you may be the primary wage earner in your household, your lost income may leave your family struggling to take care of daily 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)*** ***7:30 – 5:30 CST Monday – Friday*** 3. *Retirement Savings*: Some physicians who have inadequate disability insurance may be forced to tap into their retirement savings to cover day-to-day expenses. 4. *Other Lost Income*: In some cases, loved ones take time off of work to care for the person who is sick or injured, further reducing the family income. Because disability benefits replace a significant portion of your income, they help to protect your savings, your investments, and your home. Disability insurance helps to prevent the financial strain that heaps additional physical and emotional stress on you and your loved ones. If you become seriously sick or injured and have proper disability coverage, you can feel secure and focus on your recovery so you can get back to your life. ## Unbiased Assistance for Your Personal Needs TMA Insurance Trust is an independent, full-service insurance agency; we exist to provide physicians with quality, unbiased assistance. When you need to obtain or supplement your disability insurance, we can offer several options. *For new physicians*, TMA Insurance Trust offers an affordable TMA Member Long-Term Disability Plan **issued by** **The Prudential Insurance Company of America**. This plan allows TMA members up to age 55 to apply for a benefit of up to $10,000 per month with simplified underwriting. We work with the leading disability carriers in Texas and can provide you with a comparison of options that we can guide you through so you can be confident in the choice you make. *For experienced physicians* who want comprehensive coverage with a guaranteed rate, there are several other options available from leading insurance companies – including coverage from Guardian that provides a 10% TMA-Member discount for the life of the policy, and disability coverage with a high-limit option from Lloyd’s of London. *For employed physicians saving for retirement*, TMA Insurance Trust offers another disability retirement protection product worth considering. If you become sick or injured and are unable to work, you will lose your ability to contribute to a defined contribution retirement plan *as well as* your employer's matching contribution. We offer a product that will insure 100% of your contributions as well as your employer's contributions. When you call TMA Insurance Trust, you will appreciate that our advisors are working for you, not for any insurance company. Our advisors do not receive a commission, so there is no obligation or sales pressure. If you have questions about your disability insurance needs, call us today for a free, no-obligation consultation from a trusted, experienced advisor. [![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/could-your-finances-survive-a-critical-illness) [Next Entries**](https://www.tmait.org/blog/help-protect-yourself-from-the-unexpected-with-accident-insurance) ## 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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