Do you have enough life insurance coverage? Perhaps you may believe that, while you have some insurance, you would like to have increased coverage. But obtaining additional insurance may seem like an inconvenience - and with the demanding workload you have as a physician, you don’t have the time to deal with the process.

That’s why we at TMA Insurance Trust are excited to share with our members a way to get up to $1,000,000 in life insurance coverage with an online application process that is streamlined to save you time and effort.

Most people – including physicians – appreciate the value of life insurance. It is generally considered an essential way to help provide for your family’s financial security when you are no longer here.

But recent research has uncovered a significant finding: Overall there are 102 million uninsured and underinsured Americans who know they need (or need more) life insurance coverage.*

So what is the stumbling block to getting more coverage? Many seem to believe that the process of trying to obtain more coverage would be a time-consuming hassle. As a result, physicians with demanding workloads may feel they just don’t have time to get the life insurance protection they need.

You have invested heavily in your future; putting forth effort, time, and significant expense to get where you are today. As you near the conclusion of your medical residency, you expect a successful career of personal satisfaction and accomplishment. Still, no one can say with certainty what the future holds. If the unexpected should happen, proper insurance coverage will help you meet the unknown head on. What type on insurance should you carry as a resident or fellow? For those who aren’t sure where to start, we have created a package of the most essential insurance products for physicians who are starting out in their careers.

We’ve become used to it by now – those little messages that pop up on our cell phone or computer. The notices that tell us it’s time for an update.

Like most professionals, many physicians think of life insurance as a crucial part of their safety net of personal protection.

And chances are, whether you work at a hospital or medical practice, life insurance is routinely offered as an employee benefit. In fact, basic life insurance is frequently provided at little or no cost to physicians by their employers.

In many cases, however, the life insurance you receive from your employer may leave holes in the very safety net that was meant to provide protection.

As a physician, you care about safety, and you are happy to take precautions to protect both yourself and the ones you love. Seatbelts, bicycle helmets, and life jackets are always worn at the appropriate time. You would not dream of leaving those you love vulnerable when it’s so convenient to protect them.

Life insurance can be the same; it offers straightforward protection that is convenient and surprisingly affordable. When you consider all that life insurance can do for your family (and even your medical practice), you’ll likely agree that securing it is the only sensible choice.

For many people, purchasing life insurance is a once-in-a-lifetime event. They consider their debt, income, and savings; then they determine how much coverage they need. This tends to be a final decision, since they anticipate that their income and lifestyle will stay fundamentally the same throughout their life. Physicians are very different - their lives and careers tend to be dynamic and may change more. Periodic reviews of your life insurance coverage are important and recommended.

If you are a partner in your own small practice, you undoubtedly stay busy; but you probably wouldn’t have it any other way. The independence that comes from owning your own practice is a great reward for all the hard work. But you face specific challenges as well. One such challenge is the risk of financial loss if a practice partner passes away.