If you're an independent physician, you might assume your only health insurance option is an individual HMO plan. But what if there is a better way?

As a physician at the start of my career,* I’m always looking for ways to learn from those who’ve been practicing longer than I have. So when one of the senior surgeons I’ve always respected sat down across from me during a quick lunch break between procedures, I listened.

As a Texas physician, your ability to earn an income and care for your loved ones is one of your most valuable assets. An unexpected illness or injury can prevent even the most dedicated physician from practicing, and without adequate protection, this can lead to financial hardship for you and your family.

As a TMA Insurance Trust advisor,* I talk with physicians at all stages of their careers about their life insurance, what they might need, and the gaps they haven’t yet considered. One story in particular stood out.

Most of us think of insurance in practical terms: you pay a premium, and if something happens, you file a claim. But what if it could do more? What if its value reached further than your own protection? What if it already was, and you just didn’t know it?

As a physician, you’ve likely noticed that inflation is affecting nearly every aspect of running your practice—from medical supplies to facility costs—and health insurance is no exception. Because premium rates are set a year in advance, the full impact of inflation on your health plan may not have hit yet. Are you now facing renewals and bracing for the financial effects on your practice? What you see today could look very different next year.

Disability insurance can be hard to decode. And when the benefits physicians value most—like specialty-specific protection or the ability to increase coverage over time—are treated as costly extras, it’s easy to lose sight of whether your policy truly reflects the value of your income. The result? Coverage that’s more confusing and potentially more expensive than it should be.

Many prioritize building wealth and manage it by means of investments and portfolios. Often forgotten is the need to protect the funds you have already worked so hard to accrue. All it would take is one tragic accident in which you are held responsible for damages or bodily injuries to jeopardize your finances. TMA Insurance Trust can help you secure a personal umbrella insurance policy that can provide the extra protection you need when your homeowner’s or car insurance reaches its liability limit.

If such an unfortunate event were to occur, as a physician, you run a high risk of being the target of a lawsuit. Although you may have already sought professional liability protection, a personal umbrella insurance policy can protect your personal wealth, your spouse, and your practice by providing an extra layer of financial protection.