As a doctor, you understand better than anyone the frailty of the human body – which means you also know that a disability can really happen to anyone at any time, most often when they least expect it. As a medical professional, the need to protect your hard-earned income with physician disability insurance should be evident – but do you really know just how important it is?
Should you at some point become unable to perform your duties as a doctor, you’ll be glad you chose the right type of disability insurance policy. There are several details, riders, stipulations, and options for coverage out there, so you need to make sure you understand every word of the policy you choose. One of the most important features to have is an “own-occupation” definition of disability, as opposed to an “any-occupation” definition. You’ve spent many years, countless hours, and substantial funds to become a physician, and you want to make sure that you are paid the benefits you would need – even if you could work in another field. If you were to become disabled but could still work in another occupation that paid less money, any occupation insurance coverage would not pay out any benefit. However, if you had own-occupation disability insurance, you would be paid benefits.
There are also different ways that claims are paid when it comes to benefits, so be sure that you consider them when you are obtaining doctors disability insurance quotes. You’ll want a policy that covers income during your recovery, but not one that only defines residual disability as loss of time or duties. Intramark Insurance Services can help you understand the various riders, options, and details you’ll want to look for in order to protect what you have worked so hard to achieve. If you are a resident physician or are in your first year of practice, we can help you with special program information, too. Get your free, no-obligation doctors disability insurance quotes now.