You probably know exactly where your investment accounts stand. You might even be running a tight ship on your retirement planning. But when it comes to protecting the one thing that fuels all of it—your income—how dialed in are you?
Many physicians either assume they’re covered through work or bought a policy years ago and haven’t thought much about it since. But here’s the thing: a lot of disability insurance doesn’t go far enough when you actually need it. And unless you’ve taken a close look, you could be exposed in ways that could seriously impact your financial future.
Let’s break this down.
Your Income Powers Everything
You’ve put years—maybe decades even—into building your medical career. If something unexpected took you out of practice, how long would your current disability coverage carry you? Would it fully replace your income? What about taxes? Bonuses? The day-to-day financial reality of your life?
It’s easy to delay these questions. But too often, physicians only realize their coverage gaps after something happens—when it’s too late to adjust.
The Sneaky Gaps That Get Overlooked
Disability insurance isn’t one-size-fits-all. Your coverage needs depend heavily on how you practice medicine.
Independent Physicians: The Most at Risk
If you run your own practice, you’re wearing multiple hats—clinician, business owner, manager. And that puts you at higher financial risk if you suddenly can’t work.
You may already have disability insurance. But if you secured your coverage some time ago, inflation may have decreased the buying power of your current benefit, leaving you with less monthly income than you originally intended. Worse, if you’re paying premiums through your business, your benefits may be taxable—cutting into the safety net you thought you had.
Also worth thinking about: Can your practice stay afloat without you? Group disability insurance for your team isn’t just a benefit—it’s part of your continuity plan. Without it, staff turnover, patient loss, and operational hiccups can compound your personal stress.
Employed Physicians: Don’t Let Group Coverage Fool You
Just because your employer provides disability insurance doesn’t mean you’re in the clear. Group plans typically cover 60% of your salary1 – and don’t count bonuses. Many cap benefits at $10,000/month, and those benefits are usually taxed as income.
Let’s say you earn $250K. Your total benefit before taxes might be $120K. That leaves $130K of your income—over half—unprotected.
Plus, employer policies often limit how long you can collect benefits, and coverage ends if you leave your job. You may end up scrambling to find replacement coverage when you're older, with less favorable health conditions and higher premiums.
Locum Tenens Physicians: More Complicated, More Critical
If you’re working locums or on temporary contracts, insurers might see you as riskier to insure. Income variability and the lack of an employer plan make it harder to qualify for robust coverage—and often means paying higher premiums.
That said, coverage is still available. It just requires a smart strategy and a knowledgeable guide.
Stronger Coverage. Smarter Planning.
At TMA Insurance Trust, we work with top-tier disability insurers to offer policies designed with physicians in mind, like the TMA Member Long Term Disability Insurance plan, issued by The Prudential Insurance Company of America. It’s a physician-first member plan that includes comprehensive benefits and features to help protect your income at an affordable cost.
What sets this plan apart?
- Own-occupation coverage: If you can’t work in your specialty, you get full benefits.
- Lifetime savings: We can help you lock in up to 40% off your premiums for the life of the policy.
- Additional discount: With a 25% annual statement credit, your policy could cost significantly less than you expect.
What Makes TMA Insurance Trust Different?
We’ve been helping Texas physicians protect their income for over 50 years. We don’t charge for our services, and our advisors don’t earn commissions, so there’s zero pressure and no sales agenda. Just honest, physician-first guidance.
We’ll help you:
- Review your current coverage (even if it’s not with us)
- Understand exactly where your risks are
- Identify tailored options that meet your specific practice setup
And we’ll make the whole process easy, straightforward, and worth your time.
Let’s Make Sure You’re Really Covered
Disability insurance isn’t exciting. But what it protects? That matters. A lot.
If you’re not 100% sure your current coverage would actually support your lifestyle and obligations if you couldn’t practice, now is the time to find out.
Give us a call at 800-880-8181 (Mon–Fri, 8:00 AM–5:00 PM CST), and speak with a real, experienced advisor who’ll walk you through it—no pressure, just clarity. Your ability to practice is everything. Let’s make sure it stays protected.
For over 70 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry.
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