As you near the conclusion of your medical residency, you can rightly be proud of your accomplishments, and have reason to look forward to a successful career. But the world has changed, and the face of medicine looks strikingly different than when you began this journey. No one can say with certainty what the future holds. Because the unexpected does happen, proper insurance coverage is vital for helping you successfully meet the unknown.

What type of insurance should you carry as a resident or fellow? For those who aren’t sure where to start, we have created a package of the most essential insurance products for physicians who are starting out in their careers.

At this unique moment in time, physicians are facing stark realities that are unprecedented – not just in the field of medicine but in every aspect of our life.

The impact of the current health crisis is causing people in all professions to take stock of how we live and what we can do to best protect ourselves and our families.

Almost every professional knows how important it is to help protect their income. Our long term financial health depends on it.

For over 60 years we have worked with Texas physicians to help them protect their income and the financial security of their family.

But now, as risks to our health and livelihood are rising daily, we are finding that many physicians are reaching out to us with concerns that their income may not be adequately protected – leaving the financial security of their family vulnerable.

Even if you don’t play or watch the game of baseball, you have most certainly heard the expression “cover your bases.”

It essentially means “be prepared” – position your team to be alert for any possibility – whether it’s a line drive hit down the third base line or a runner trying to steal second. The idea is to be ready so no matter what happens you are not caught off guard.

Life is lived in stages. You could say the same is true for the career of a physician.

In a broad sense, a physician’s career can be divided into three stages – early, middle and later. Each of these stages can bring rewards and achievements. But at the same time each comes with vulnerabilities – especially with regard to our health.

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.

For most physicians disability insurance is a “no brainer.” It helps provide an income if you become ill or injured and cannot work for a long period of time. As such it is considered essential insurance protection for any physician actively practicing medicine.

If you ask most independent practice owners, chances are they will tell you that owning a medical practice can be immensely rewarding – but also very challenging.

On the one hand, you have the freedom to practice medicine on your own terms. But you also have an added layer of responsibilities. You are not only responsible for the care of your patients, but you must also look out for the welfare of those who work beside you every day.

So if for some reason you were not able to go to work – if you were ill or unexpectedly injured – that could have significant financial ramifications for you, for your staff and for your practice.