-
Physician Disability Insurance – Student Loan Benefit Rider
In the last couple of years, a few of the top physician disability insurance companies have created new physician disability insurance benefit riders that reimburse you for the cost of student loan debt in the event of a total disability. You should consider these riders if you have already maximized your monthly benefit and have...
-
Non-Cancelable Disability Insurance: What is it? Is it worth it?
A disability insurance policy is considered non-cancelable if the insurance company cannot raise rates as long as the premium is paid. A non-cancelable policy typically has a 20% additional premium charge versus guaranteed renewable only policies. Guaranteed renewable only policies do not have guaranteed level rates. However, in order to raise rates on guaranteed renewable...
-
Can I deduct my physician disability insurance premiums? Are my benefits taxable?
We are often asked if physician disability insurance premiums are tax deductible and whether any benefits received are taxable. The answers depend on your practice scenario: 1. If you are a non-owner employee or sole proprietor, then the premiums are not tax deductible. In the event of a disability, your disability benefit will not be...
-
High Limit DI – Orthopedic Surgeon Case Study
This past month one of our clients reached out to us after becoming partner in a high-volume orthopedic practice. A year ago, his annual income as an associate was $350,000 and he had maxed out his individual disability insurance policy to $15,000/mo. He showed us his new contract which substantiated an increase in his income...
-
Physician Disability Insurance Discounts Still Available to Residents/Fellows Finished with Training
Important note for all residents/fellows who have completed training: It is still possible to secure discounts associated with your training institution 60-90 days after the date you officially complete your training. We have talked to a number of residents/fellows who were under the impression they had to apply before they complete training (usually 6/30 of...
-
How much does disability insurance cost for physicians?
Naturally, we are often asked “how much does disability insurance cost for physicians?” Since the cost of disability insurance for physicians varies by multiple factors, to get specific numbers please request a quote comparison below. Request Your Quote Comparison The following are the factors that affect the cost: Age – The younger you are, the...
-
Disability Insurance for Gastroenterologists
Gastroenterologists are some of the most highly-trained physicians; completing 6 years of postgraduate training. Some choose to sub-specialize further into hepatology. Disability insurance for gastroenterologists protects the income that is generated by the skills learned during training. Below are 4 key guidelines to follow when exploring disability insurance for gastroenterologists. Own Occupation Definition of Disability – It doesn’t take a lot...
-
Disability Insurance for Cardiologists
Cardiologists are some of the most highly-trained physicians; completing up to 7 years of postgraduate training. Disability insurance for cardiologists protects the income that is generated by the skills learned during training. Below are 5 key guidelines to follow when exploring disability insurance for cardiologists. Own Occupation Definition of Disability – It is common for cardiologists to subspecialize. It is...
-
Disability Insurance for Dermatologists
The work activities of dermatologists require high-level cognitive functioning and certain motor skills. Disability insurance for dermatologists protects the income that these work activities generate. Below are 4 key guidelines to follow when exploring disability insurance for dermatologists. Own Occupation Definition of Disability – Disabled and can’t practice dermatology but can still teach dermatology? Dermatologists with own occupation protection...
