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.

Most medical residents receive life insurance as a benefit from their employers. Whether you have already taken advantage of this coverage or not, there are strong financial advantages in obtaining supplemental life insurance outside the workplace.

Life insurance is a crucial part of an independent physician’s financial safety net. Since you may not have access to an employer benefits package that often includes life insurance, it’s up to you to secure and maintain life insurance coverage that meets the changing needs of your family and your practice.

Like most physicians, you have life insurance. You know that it is a vital part of your financial safety net. Since many hospitals and large medical practices offer group life insurance as an employee benefit, many employed physicians have this type of policy. Signing up for group life insurance takes only a few moments - and sometimes it is an automatic benefit, requiring no input from you as the insured. This employee benefit is almost always provided to employees at no cost or at very low cost. Since obtaining group life insurance is so simple and affordable, it’s easy to see why 46% of all life insurance policies are group policies.

You’ve worked hard for years, have provided well for those you love, and you have big dreams for your future. Over time, with a great deal of love and care, you are crafting your legacy.

But your legacy is hanging in the balance.

Most physicians understand the vital need to protect their family with life insurance coverage. If something should happen to you, you want your family to be cared for financially - and you want the dreams you have for their future to come true. This principle applies to both parents, even if your spouse or partner is not the primary breadwinner.

What do life insurance and love have to do with each other? More than you'd think. You buy life insurance because you love someone so much you want them to be taken care of, no matter what. But life insurance doesn't just help them. It gives you real peace of mind.