There’s an old episode of “The X-Files” in which insurance salesman Clyde Bruckman, played by Peter Boyle of “Everybody Loves Raymond,” sits with a young couple at their kitchen table trying to sell them an insurance policy.
When unwanted illness or injury keeps you from practicing medicine for months or years at a time, a long-term disability insurance policy is designed to provide a benefit while you are unable to work.
Permanent life insurance provides death protection for policyholders, but is it the right solution for all physicians?
Here are five reasons why physicians might want to obtain or keep a permanent life insurance policy:
Health insurance offers more than just medical care; it offers peace of mind and reassurance. The harsh reality of the matter, however, is that even the best medical insurance plans can still leave you with expensive deductibles and co-pays, not to mention the unforeseen out-of-pocket expenses that can come with an extended hospital stay.
Insurance. If you’re a Millennial, the word probably evokes yawns and shrugs. But insurance is needed for many reasons in our lives. We purchase travel policies when we book a vacation. We insure our cars. But what happens when that car gets smashed by another car, sending you sideways into the landscape? Or the plane falls out of the sky? Or you get sick.
These are dramatic images, but they can happen. To anyone. At any age.
No one likes to consider their own mortality. But if you have a family or spouse who relies on your income as a Texas physician, set those feelings aside. Realizing the need for life insurance is an important first step, while qualifying for it is much more involved, as insurers evaluate each application based on a number of criteria, including age, lifestyle, profession, and health. If you're considering applying for life insurance in Texas, be aware that these health conditions listed below may affect your application, resulting in higher premiums or denial.
Life insurance policies are a critical element of a family’s financial plan. Selecting the right policy ensures your family’s well-being should the unexpected take place.
An ideal mortgage loan candidate has low debt and a sizable income. Low debt is not often the case, however, for new physicians leaving residency. On average, physicians start their careers with $166,750 in debt. Leaving residency with large debts and career opportunities still on the horizon, new medical practitioners have many of the characteristics banks often try to avoid.
