Medical Disability Insurance
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Disability Insurance: A Key Factor in Doctors’ Career Decisions
*This post was written by Ben Phipps for MGIS, you can find the original article here. In the ever-evolving landscape of healthcare, doctor retention and recruitment remain critical challenges for organizations. While recent data from the American Medical Association (AMA) shows encouraging signs of improvement in physician burnout rates, the issue continues to be a...
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AMA Disability Insurance – 5 Things You Should Know*
Chances are you have received mailings from DisabilityPro. DisabilityPro is a marketing name for the AMA sponsored group disability insurance policy underwritten by New York Life Insurance Company. The initial rates are attractive, but do you know the terms of coverage? Contact us today to learn more about your disability plan options, including a personalized quote comparison....
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Is a Cost of Living (COLA) Rider Effective?
We originally posted this blog on The Whitecoat Investor, but have provided it here as well: The last two years has seen inflation climb to levels not seen this century . The Consumer Price Index (CPI) was 8.6 in 2022, over four times the average, and the CPI was 4.7 for 2021, over twice the...
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Medical Resident Disability Insurance – Learn How to Maximize Protection
A common question we receive regarding medical resident disability insurance relates to increasing the disability benefit at some point in the future. Medical resident disability insurance is capped at $5,000/month. This amount is inadequate for residents/fellows who are about to at least triple their salary as attending physicians. That is why we include a FIO/FPO (Future...
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The Disability Diagnostic Series: Definition of Disability
Disability Diagnostic Series: Definition of Disability By D.K. Unger To begin this new series, I will be looking at the heart of disability insurance contracts, the definition of disability. The definition of disability determines whether your benefit will be received or not. There is no universal definition of disability; it varies with each carrier...
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Obtain Disability Insurance Coverage from an Independent Specialist
When looking to obtain disability insurance, it is imperative that a physician seeks an independent agent that represents multiple carriers and specializes in disability insurance. Disability insurance is unlike life insurance in that the policies are more complex and vary with each carrier. Achieving the optimal outcome of obtaining a policy that is both cost-effective...
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UCI Guaranteed Issue Discounted Disability Plan Termination
The UCI guaranteed issue discounted disability plan terminates 11/1. This will be the last time you will be able to obtain individual disability coverage on a pre-approved and discounted basis. This is also the last chance for females to get a gender neutral rate. After the gender neutral rate ends, females will have approximately a...
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Purchase Disability Coverage While in Residency or Fellowship
Q: Why should I purchase disability insurance while I’m still in residency or fellowship? A: A good reason to purchase disability coverage while in residency or fellowship is because rates are based on age and current health. Those premiums are locked in for the duration of the policy and will often provide substantial discounts to residents/fellows. This is...
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A LONG-TERM DISABILITY POLICY CAN PROTECT YOUR INCOME-article & reference inks no longer valid
by ELl J. HJERMSTED Achieving your personal and professional goals depends on your ability to earn an income. A disabling accident or illness, however, can prevent you from practicing medicine for a long period of time. ABOUT ONE in five Americans will become disabled for 1 year or more before age 65, with the average...
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Disability Insurance: Protect Your Most Valuable Asset
Author: Borgia, Andy G, Disability Insurance for Physicians Publication: Western Journal of Emergency Medicine, 14(3) As an emergency physician you have invested at least 25 years to prepare for your medical career. Your ability to practice your medical specialty is your most valuable asset and, as with any important asset, it should be...