As an independent locum tenens physician, you enjoy many benefits. Due to the shortage of physicians in Texas, your skills are in great demand. You get to decide when and where you want to work. And you don’t have to wait around for insurance reimbursements to get paid.
In the medical profession, your ability to care for your patients is closely tied to your health and well-being. If an illness or injury disrupted your ability to work, could you cover your living expenses and additional medical bills? Most young physicians, especially residents, face substantial education loan repayments, monthly rent or mortgage bills, auto expenses, and potentially, the responsibilities of starting or caring for a young family. If you were unable to practice and earn an income, even for a short period of time, these financial demands could quickly deplete your savings and leave you financially vulnerable.
You’ve invested years of rigorous study and tireless dedication to become proficient in your field. With your professional life on an upward trajectory, it’s essential to ensure that you are helping to protect the income you’re working so hard for.
The TMA Member Short Term Disability Insurance plan is an affordable financial tool that residents and young physicians can use to help protect their incomes if a serious illness or injury keeps them from practicing.
Physicians invest years in rigorous education and training, committing themselves to the welfare of their patients. However, amidst their relentless pursuit of healing, one aspect often gets overshadowed: their own well-being. This is where short-term disability insurance emerges as a crucial financial safeguard. By investing in short-term disability insurance, physicians can empower themselves with a safety net that can help provide vital income protection during unexpected health challenges or when planning for the future.
Most people know that insurance is there to help protect what’s important in our personal and professional lives. But as a woman physician what you might not know is that the pricing for certain kinds of insurance can be different for women than it is for men.
That’s because in many cases, premiums for insurance products are based on the gender of the person seeking coverage. And often, women bear higher costs because they represent greater risk to insurance companies.
As young physicians embark on their medical careers, it is essential to prioritize their financial well-being and future security. Short term disability insurance is a crucial safety net that can help provide financial support during periods of medical leave when you are unable to earn your regular salary.
We are proud to introduce the TMA Member Short Term Disability Plan, issued by The Prudential Insurance Company of America, as an affordable, guaranteed way for residents and young physicians to access vital income insurance protection.
Women physicians need disability insurance to help protect their income. In fact, they may need it more than their male colleagues. Statistically, women are more prone to become disabled than their male counterparts, thus disability insurance rates are higher.¹ Research shows that over 22.3% of all disabilities for women are related to pregnancy.² Consequently, disability insurance premiums for an individual policy are typically 40-50% higher for women compared to the rates for men.³
It is often strongly recommended by experienced physicians that newly practicing physicians obtain a disability insurance policy as soon as possible. Establishing this coverage early in one's career is essential for safeguarding their income.
As years pass and your salary and income grow, your disability insurance coverage needs to keep pace or you could face risks to your financial stability. The policy you started your career with may not sufficiently protect your current income.
