Working as a locum or contractor can be incredibly appealing: greater flexibility, higher pay, and more opportunities to travel or spend time with loved ones. If you’re looking for a better work/life balance, this path might feel like exactly what you need at this stage of life.
You probably know exactly where your investment accounts stand. You might even be running a tight ship on your retirement planning. But when it comes to protecting the one thing that fuels all of it—your income—how dialed in are you?
Many physicians either assume they’re covered through work or bought a policy years ago and haven’t thought much about it since. But here’s the thing: a lot of disability insurance doesn’t go far enough when you actually need it. And unless you’ve taken a close look, you could be exposed in ways that could seriously impact your financial future.
Let’s break this down.
Dr. Carter had a routine.* Morning coffee. Clinic by eight. She had a full schedule of patients who counted on her steady hands and sharp mind. After years of training and sacrifice, life finally felt comfortable. Her income covered the mortgage, her kids’ activities, and the growing retirement fund she’d worked hard to build.
Your skills and expertise are more than just part of your profession—they’re your greatest assets. They’ve shaped your career, supported your goals, and helped you build a strong financial foundation. But your ability to earn an income isn’t guaranteed. An illness or injury could unexpectedly take you away from your practice, creating uncertainty at a time when security matters most.
If an unexpected illness or injury disrupted your ability to work, would your finances be able to support you? Residents and young physicians are especially at risk because they are most likely facing financial obligations such as education loans, mortgage or rent payments, and auto payments, among other expenses.
Imagine the ripple effects of being unable to work in your medical specialty. Beyond the immediate loss of income, it could mean adjusting career plans, straining family finances, and disrupting the life you’ve worked tirelessly to build. Taking steps today to help protect your income ensures you’re ready for future uncertainties.
As a physician, your income is the backbone of your lifestyle. Imagine dedicating your entire life to your medical specialty, only to face the uncertainty of an illness or injury that prevents you from working. If your income is not protected, even a temporary loss could have long-lasting financial consequences.
Starting now, TMA members can apply for a long term disability monthly benefit of up to $5,000 without verifying their income or submitting any financial information.
Imagine dedicating years of your life to education and refining your medical expertise, only to face a sudden health setback that prevents you from practicing. The financial consequences may be as daunting as the health challenges themselves. Unfortunately, confronting the fear of the unknown is a reality even the most resilient physicians must face. Thankfully, TMA Insurance Trust has introduced a new benefit to the TMA Member Long Term Disability Insurance Plan, issued by The Prudential Insurance Company of America, providing you with a reliable financial safeguard during times of uncertainty.
