Long Term Disability Insurance
What happens if you're employed in a specialized occupation and physically unable to work? Long term disability insurance is designed for those who need more than just a few months of coverage. Some injuries and conditions are too catastrophic to rely on a quick fix, which is why there's financial assistance available to those who can't work for an extended period of time.
Specialized Disability Insurance Services is here to help doctors get the coverage they need at a price they can afford. We're an independent broker who will walk you through the plans and what you can expect from them.
Learn more about the basics of long term disability insurance and then give us a call for more information.
The Need for Precautions
As many as 25% of all workers end up disabled at some point before retirement. And while this figure can include short-term disability, it's a high enough risk that no one should overlook the consequences. What is long term disability insurance? It doesn't cover your medical care, but it does cover all of the other bills that might pile up while you're on the mend.
How Much Is Long Term Disability Insurance?
Long term disability insurance cost will vary depending on your coverage, but also on your chosen specialty. Those in more hazardous positions, such as an ER doctor on the night shift in a big city, might pay more than, say, a GP or pediatrician.
The real cost of disability insurance is the risks you take by not getting it. If a doctor spends so many years climbing to the top of their profession, they won't enjoy the fruits of their labor if they suffer a serious (and unexpected) injury. Insurance coverage provides cash to cover everything from utilities to student loans, so no one has to watch their expenses spin out of control.
What Kind of Coverage Is Available?
Like all insurance, the range of coverage runs the gamut. One of the biggest mistakes people make when signing up is buying one kind of coverage when they believe they're buying another. The best thing you can do is establish coverage early in your career, so you're unlikely to be affected by things like pre-existing conditions or any other limitations included in the policy.
Who Should I Work With?
The best advice is to work with a broker who's independent of the traditional insurance agents whose livelihood depends on your signing up for any given coverage. You want someone who's going to work for you, and you'll find that kind of loyalty in an independent broker who depends on your satisfaction.
Get a personalized disability insurance policy designed to ensure you get paid if you can't work due to injury or illness.
Do I Need Long Term Disability Insurance?
Specialized Disability Insurance Services is here to help you answer all of your questions. Whether you're wondering whether long-term disability insurance payments are taxable or just want to get more information on the types of plans available, we go over all of it with you. Give us a call today to learn more about the prices you'll pay and how much your coverage can save you should something prevent you from working.
