Disability Insurance for Surgeons
What would you do if you injured your hands in an accident and you could no longer operate? The loss of your career could be devastating financially. If you had disability insurance for surgeons, you would receive some income for the rest of your working life. Specialized Disability Insurance in New York has advised more than 10,000 physicians on policy options. We work with several insurance brokers to find the best policy at the best price.
Contact Specialized Disability Insurance Services for a free consultation.
Why Do I Need Disability Insurance?
Surgeons face unique financial challenges. Most of your early income likely has gone to pay off educational debt, making the accumulation of savings difficult. Income is your greatest asset. Long-term disability insurance protects you financially if you are unable to work or must reduce your work schedule because of an injury or disability. While many employers offer long-term disability policies, these policies often don't provide all the coverage you need. Buying an individual policy allows you to choose options for your specialty and to control your coverage.
How Do I Buy Coverage?
- First, choose a broker at one of the disability insurance companies for surgeons. They are specialists who understand the nuances of your profession.
- Choose an independent insurance broker who isn't restricted to only one company.
- Buy while you're young. The rates for men at age 30 are about half what they will be at age 45. For women, 30-year-olds pay about 65 percent of what 45-year-olds pay. Also, by buying before you have preconditions, you will avoid exclusions.
- Learn about options and choose based on value, not price.
What Options Are Available?
One option is an own occupation disability insurance policy, which provides you with full coverage if you are unable to perform the duties of your specific specialty. Own occupation differs from standard disability insurance, which may require you to be unable to perform the duties of any profession to receive full benefits. For example, with a standard policy, a hand injury that slightly affects dexterity may not be covered because you can still perform some jobs. However, with an own occupation policy, the injury likely would be covered because a surgeon cannot operate without excellent dexterity.
Other options are clauses to make the policy noncancellable and renewable, to provide for partial loss of income, to add cost-of-living adjustments, and to pay off student loans.
What is the Cost?
The cost for own occupation disability insurance varies based on your particular specialty. Women pay more than men because statistics show they become disabled more frequently. Without coverage, if you become disabled through injury or disease, your income could be reduced so that you couldn't maintain a reasonable standard of living.
Get a personalized disability insurance policy designed to ensure you get paid if you can't work due to injury or illness.
Choose Specialized Disability Insurance Services for the Best Disability Insurance for Surgeons
At Specialized Disability Insurance Services, we are experts at finding the best disability insurance for surgeons. We listen to your needs, educate you about options, and then work with many insurance companies to find the right options for your situation at a competitive price. Don't wait until you are disabled to discover you haven't enough coverage. Contact a specialist today or phone (646)-437-8460 for a free consultation.
