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.
In the first week of August, we're highlighting an important enhancement to the TMA Member Long Term Disability Insurance plan, issued by The Prudential Insurance Company of America: TMA members can now apply for $5,000/month in coverage without the need for income verification. This simplifies the process, making it easier than ever to secure this vital protection.
Why is this protection essential? Our data from long-term disability claims shows that ongoing (open) claims have an average length of 11 years. Even for those who recover and successfully return to practice, the average duration members received monthly benefits was 2 years and 5 months. These statistics powerfully illustrate why securing insurance that helps to protect your income is so important.
Beyond the Basics
Many disability plans offer core coverage, but often, the most valuable features come at an additional cost. The TMA Member Long Term Disability Insurance plan is specifically designed for physicians and includes built-in benefits that are typically costly add-ons, all at exclusive member rates:
- Own Occupation Coverage for your medical specialty: Ensures benefits continue up to your Social Security retirement age if you can no longer practice in your medical specialty
- Partial/Residual Benefit: Provides income support if a disability limits you to part-time work
- No Offsets:Pays regardless of any other benefits you receive
- Catastrophic Coverage: Can increase coverage by 20%
- Future Increase Option: Allows you to increase coverage without any underwriting
- Student Loan Reimbursement: Increases benefits by 25% (up to $250,000) to help pay for outstanding education loans
- 25% Savings Credit: Effectively reduce your premium payments and could save you thousands of dollars across the life of your coverage
The combination of affordable premium rates and simplified underwriting (without income verification for the $5,000/month option) makes this coverage both budget-friendly and easy to apply for.
This plan is an excellent fit for you if you're a young physician seeking an affordable option that allows you to increase your coverage as your income grows. If you're a busy physician, this is also for you when you need to boost your current coverage quickly and more affordably compared to an individual policy.
Whether you're new in your practice or a seasoned professional, the TMA Member Long-Term Disability Insurance plan is designed to accommodate various circumstances and career stages. Since 1969, the TMA Member Long Term Disability Insurance plan has been a trusted resource for Texas physicians. This plan has consistently proven its commitment to members by never canceling or non-renewing coverage for any member.
A Smart and Easy Choice
We want to help you protect your income; choosing a solid long-term disability plan is a responsible decision for every physician. Using your member-only $5,000 benefit is the smart choice. To discuss your options and discover how the TMA Member Long Term Disability Insurance plan can help safeguard your finances and your family, simply contact an advisor today by calling 800-880-8181, Monday to Friday, 8:00 AM to 5:00 PM CST.
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