Should I get specialty disability insurance coverage while in residency or fellowship training?

You might be thinking, “Should I buy specialty disability coverage while I’m still in residency or fellowship training?” Simply put – YES. First, you need to get it while you’re healthy—Medical underwriting approval is typically required due to the comprehensiveness of specialty disability coverage. This approval is not guaranteed in the future. Second, it’s usually less expensive —The discounts we’ve obtained for residents and fellows are substantial and remain after you graduate. Many of these discounts are not available after graduation. Third, you can qualify for a Future Insurability Option—This allows you to…

How much Disability Insurance can I get?

We’re often asked, “How much disability insurance am I eligible for?” Typically the maximum benefit someone can be covered for is 65 to 70% of adjusted gross income However, how much you actually receive can be much less. Why? Because most group disability benefits through an employer are taxable income, while individual policy benefits are not taxable income. For example, Dr. Pepper becomes disabled and receives $10000/month from her group long-term disability policy. But because this is taxable income, she’s only able to use $6500 of this amount for living expenses. However, Dr….

I have been working with Billy since my residency, and I have been completely satisfied with my experience. We carefully planned to maximize the discounts available to residents before I graduated and even started two policies to lock in discounts at two companies. Since then, he has been immediately responsive by email and phone when questions arise about renewals or policy changes. Perhaps more importantly, I chose to work with Billy because of his character. He is a man of faith and family, which I value tremendously.

-Dr. Randy, Orthopaedic Surgeon

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