Most of us are familiar with the basic concept of life insurance: It provides your beneficiary with a payment if you pass away during the time you are covered.

But as you may know, there are different kinds of life insurance. For example, there is term life insurance and whole, or permanent, life insurance.

If you are a female physician, your personal achievement and hard work has come with an economic reward. Because you have a significant income, you likely play a prominent role in the lifestyle your family leads. You also bring financial stability to your household.

Because your family’s well being likely hinges on your income, life insurance protection plays an important role. But according to life insurance industry estimates, about 58% of men have life insurance, but only 48% of women are covered.* Do you have the life insurance you need to help protect your family’s future?

Life insurance shouldn’t be a mystery. Yet many people, physicians included, may have some misconceptions about it.

We don’t want you to miss out on this important protection for your family. So here’s some information that may help shed new light on what you know – or don’t know – about the life insurance we offer.

Time passes fast. Especially for physicians, who invest heavily in their education and training. Days turn into weeks, and months into years. Along the way you may get married, buy a home, have children. Perhaps you start your own practice or pursue a specialty. With each change that comes along, life has undoubtedly gotten more complex. Income, assets, investments, and savings likely have grown through the years.

As a group, physicians tend to prepare well for their financial future, and for them, not all insurance protection is needed. But for most physicians, life insurance can offer financial protection that makes practical sense. In this way, we tend to call life insurance “essential protection.”

Could it get any worse? That’s what so many Texans are asking these days.

With a crippling pandemic, a devastating storm and its disastrous aftermath, the people of Texas – certainly Texas physicians – have seen enough tribulation this past year. It’s become clear that our lives can change dramatically overnight as a result of circumstances over which we have little or no control.

It is from this perspective that we might approach the topic of life insurance.

If you are a physician who is employed by a medical center or other practice, you probably have life insurance as an employee benefit. But does your current policy offer enough coverage to provide the right financial insurance protection for your family? And as some employers cut costs, can you be sure that your benefit will remain? Will it be reduced or eliminated at some point in the future?

There is still much about COVID-19 we do not yet understand. But this much is clear: Those who are dedicated to fighting this pandemic on the front lines of healthcare have the highest risk of exposure to the virus.

Physicians across Texas and the nation must confront this reality every day.

So it should come as no surprise that we are receiving a growing number of questions from physicians who are giving new consideration to how they can help protect their family with life insurance.