Wash the car. Clean out the attic. Sort through expenses for your income tax.
Have you ever found yourself procrastinating about doing certain tasks? It’s normal to put off some tasks – especially if they seem like they’re not on a pressing timetable. It’s what we all do to some extent or another.
But if you’re a younger physician, there’s one thing you may not want to put off – giving your family the security and protection of life insurance.
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?
Because life insurance offers financial protection for loved ones, most physicians see the value in securing this financial protection for their families.
What if you could supplement your life insurance protection, simply and affordably? Some physicians choose to help protect their families financially with an Accidental Death and Dismemberment plan. Let’s talk about how practical and affordable this insurance is, and why you may want to obtain it.
We value the life-saving work you do and understand that practicing medicine isn’t just a job. It’s a way of life - one that impacts you and everyone in your life. That’s why TMA Insurance Trust is continually looking for new ways to support member physicians and their families.
As a physician, your income puts you in the top 5% of all Americans. Your earning potential makes you a target for every financial advisor and insurance agent in the business. However, not all advisors have your best interests at heart. Insurance advisors do not take a Hippocratic oath and even many well-intentioned agents do not understand the unique needs of physicians. As a result, some physicians end up without enough coverage in the areas they really need and too much of the types they don’t need. How can you be sure if an agent is recommending what is really best for you?
Physicians are feeling pressure due to rising student loans burdens, lower compensation expectations and shrinking health care reimbursements. These factors can distract from their primary motivations for pursuing a career in medicine – helping others, contributing to advancements in the medical field, and promoting health in their communities.
Physicians are among the highest earners, but many don’t feel like it. Having already managed large debt burdens on compressed budgets by the time they pay off their student loans and build up to a sizeable income, many physicians learn the value of setting financial goals and seeking professional advice early on.
