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Protecting What Matters Most


What to Expect When Applying for Disability Insurance

Disability insurance is important for physicians and medical residents because it safeguards future earnings should a disability occur. And while the odds of becoming disabled may seem low, there were actually over 2.5 million disabled workers in their 20s, 30s, and 40s receiving SSDI benefits in 2014 according to the Social Security Administration. 

There is so much to know when it comes to disability insurance, you will likely have questions. We asked our insurance advisors which questions they frequently receive about applying for disability insurance.They provided answers to those questions below.

What type of disability insurance policy should I apply for?

One of the most important things to insist upon is having an “own occupation” policy. This policy will ensure that if you become disabled and are not able to perform the material and substantial duties of your occupation, you will be considered to be totally disabled.   

What are the basic steps when applying for a disability insurance policy?

  1. You will be asked questions such as your name, SSN, income, specialty, date of birth, tobacco use and of you have any significant health issues, and the medication(s) you may be taking.
  2. Your insurance advisor will record all of the medical information you may have in your possession.
  3. Your insurance advisor will gather all of your tax returns and income statements to verify your finances.
  4. You will then schedule a paramedical examination..
  5. Once all your information is collected, it will then be sent over to the insurance carrier for review.

How long do I have to wait until I receive the policy?

Your advisor will generally have your policy ready to deliver within 30 to 60 days.  

What happens if I have to make a claim?

There are many factors that come into play when filing a claim for disability. In this case, it’s important to have an advisor to help walk you through the process to ensure meeting your deadlines.

What is the elimination period for a disability policy?

Should you need to use your disability insurance, you will typically wait anywhere from 30 to 180 days before you receive your benefits, depending on the elimination period you selected with your policy. It is a good idea to have savings set aside to cover 90 days worth of living expenses in the event that a disability occurs.  

How much will I get paid with my benefits?

This will depend on the amount of monthly benefit you purchase.  The average monthly benefit ranges from $3,000-$15,000.

If you have additional questions about disability coverage and the application process, feel free to get in touch with us. We’ll partner you with an experienced advisor who can answer any questions you may have and provide you with any additional information you may need.


Speak with a TMA Insurance Trust Advisor:

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