In life, if you wait until you are ready to do something important, it could be too late.

It’s common sense that if you have a leak in your roof, the time to fix it is before a rain storm – not after a deluge.

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.

Many physicians employed by a medical center, research facility, or large practice may receive benefits from their employer. That can bring a sense of security, knowing that your basic insurance needs are covered. This is especially true when you believe your income is protected with employer provided disability insurance benefits. However, this article will point out that your sense of security may not be well founded.

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.

You can’t predict the future, but you can help protect it – at least when it comes to your finances. That’s the thinking that underlies disability 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.