Your income provides a strong financial foundation for you and your family and life insurance can be one of your biggest allies in helping to keep that foundation secure. However, according to life insurance industry estimates, about 58% of men have life insurance but only 47% of women are covered.* To appreciate the value of life insurance for you as a physician, it’s important to understand all the various ways it can help you as your career progresses.
One advantage of being an employed physician is that your employment typically comes with a benefits package. This likely includes insurance coverage that may be fully or partially paid for by your employer. For many physicians, that can bring a sense of security, knowing that your basic insurance needs are covered.
So if you already have insurance from your employer why would you need more coverage? There can be a number of very good reasons – especially when it comes to long term disability insurance.
Of all the insurance you will likely obtain throughout your career and lifetime, life insurance stands apart. It is one of the easiest types of coverage to secure, while also providing a maximum amount of financial protection and added peace of mind to you and your family.
In these uncertain times, it’s not just smart planning to have a life insurance policy in place–it’s essential. For TMA Members, it’s never been easier to apply.
As a physician, you most likely think more about caring for a patient than becoming one. It can be difficult to shift perspective and think about your own care and what you would do in the event of a serious illness. TMA Insurance Trust understands that. That’s why we’re making a special effort to inform you about the TMA Member Critical Illness Insurance Plan, issued by The Prudential Insurance Company of America. TMA members under the age of 65 are guaranteed acceptance for $20,000 of TMA Member Critical Illness Insurance.
Nobody knows if, or when, they might have an injury or illness that could prevent them from working – particularly at this time when we’re seeing a dramatic upsurge in new cases of Covid-19. Without work, for most physicians, that would mean their income would diminish significantly or stop altogether.
Disability insurance is there to provide income at those times and is therefore considered an essential safety net to help protect our finances. That said, we find that many physicians – even those who currently have some disability insurance – may not have enough coverage, leaving their financial future vulnerable.
A dislocated shoulder from a fall during a hike, a broken ankle during a football game-–as a physician, you’re familiar with how to physically treat these kinds of injuries. But are you prepared financially if they happen to you or someone in your family? Your health insurance will cover a good portion of your medical bills, but additional medical and non-medical expenses can accumulate quickly. Accident insurance covers medical and non-medical expenses to help bridge the gap between your health insurance and these additional out of pocket expenses. A cash benefit is paid directly to you upon diagnosis of a covered, accidental injury.
Let’s face it, shopping online has become the “new normal.” These days, almost anything you can think of – from electronics to groceries to new cars – can be purchased with a few clicks on a keyboard or smartphone.
The latest surge in online shopping may have been accelerated by the current pandemic, but it is now virtually commonplace for most of us to go online for many of the essential goods and services we need to keep our lives on track.
That said, thanks to the ease and convenience of our online enrollment platform – available exclusively to TMA members – this may finally be the right time for you to get the protection of a term life insurance plan.