Author Archives: Billy Gwaltney

Most physicians think they’re invincible to accidents which can disable them and forever change their life. Physicians spend decades in school dedicating their lives to their careers, but never think twice about how quickly it can end or get altered.

That’s what happened with today’s guest, Dr. Naguib Farah. Dr. Naguib thought he had good genes, and never considered he’d one day be unable to work a full workweek. But then his stresses got to him, caused a stroke, and left him with partial blinding in one of his eyes.

Dr. Naguib still works in some capacity today, but only 66% of the time he used to work. Luckily for Dr. Naguib, he had good disability insurance (even though he almost got denied).

In this episode, Dr. Naguib shares his story of becoming disabled and how his disability insurance saved him from financial and existential anxiety and depression.

Listen now.

Show highlights:

Why private disability insurance is crucial for your financial freedom (especially if you think you have good genes and will never get disabled) (5:16) How to get the best definitions and rates for your disability insurance (5:59)

The insidious way even “healthy” physicians can become unable to perform their duties overnight (6:57)

Why filing an insurance claim with a broker help you receive your benefits faster (and with fewer headaches) (17:59)

How to get an insurance company to accept your claim (even if they’ve denied you before) (19:03)

The weird way disabled physicians are their own worst enemy to their doctors (and how this could make your insurance company deny your claims) (20:40)

To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.

If you enjoyed and valued this content, you might also want to check out Episode 62 – Certainty is the expectation. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

And/or Why the Broker Matters. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

Every working person is vulnerable to disability.

And being disabled reduces your earnings, which is why I always recommend a private disability policy.

It’s one of the most effective methods for safeguarding a portion of your income while maintaining your standard of living.

But how do you go about purchasing a private disability policy?

In this episode, you’ll discover how to protect your hard-earned money with a private disability policy and where to safely purchase yours without spending more than required..

Listen now.

Show Highlights Include:

How to purchase the best coverage policy in 3 simple steps. (1:36)

The 4 factors that influence your coverage rate to prevent any “extra” bills you didn’t plan for.  (2:20)

How a good broker can help you cut the stress of purchasing your policy by half. (4:35)

How to reap income-tax-free benefits by paying for your coverage yourself. (6:32)

Working with us as your broker  — the best way to have a smooth policy purchase. (8:47)

As a trainee, it can be tough to budget for disability coverage.

But here’s the thing: waiting to get coverage is like playing a risky game with your finances.

Think about it – the longer you wait, the higher the interest rates on your coverage will be. It’s like a ticking time bomb for your wallet.

This is why it’s important that you learn to take control of your financial and health destiny now to get the best discounts and rates on disability coverage.

In this episode, we’ll show you how to do just that while paying as little as possible on premiums.

Listen now!

Show Highlights Include:

How to get the largest discount on your disability coverage (2:14)

2 overlooked reasons why waiting till graduation to get coverage ends up costing you more in the long term (2:43)

How 95% of the trainees end up paying 20-30% extra for coverage (and how you can avoid that) (3:16)

#1 reason why waiting for four years as a trainee to get the coverage could end up costing you an extra 40-50% in premiums permanently (and how you can prevent that) (3:43)

How you can legally bypass in-person physical screening for the coverage as a trainee (4:32)

The key to securing the lowest premiums on your coverage (6:42)

Why a lower coverage rate may be the smarter choice as a trainee (9:55)

How much are you paying right now for your insurance premiums?

There’s a 95% chance it’s too much. Because 95% of physicians are unaware they can reduce how much they have to pay in premiums on their coverage.

How?

By simply getting a discount through the right associations…

And by doing so, there’s a good chance you can save up to 50% on your coverage.

In this episode, you’ll discover how to add discounts to your existing attendant coverage. And, if you’re still in your trainee phase, you’ll find out how you can save up to 50%!

Listen now.

Show Highlights Include:

How to save up to 40-50% on your disability coverage permanently by using trainee discount (1:23)

How you can to get up to 15% off your coverage as an attendant (even if you’re past the trainee period) (3:24)

The “Policy Discount” loophole most insurance companies use to charge you extra premiums (and how you can avoid it…) (4:32)

A secret strategy for saving money on your insurance policy (while upgrading your coverage) (4:50)

If you enjoyed and valued this content, you might also want to check out Episode 61 – Should I purchase Disability insurance before moving to Califronia. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

And/or Why Buy Early? This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

The state of Massachusetts is taking away gender-neutral discounting.

Which means that you can no longer add that to your policy to get a whopping 30-40% discount…

The highest discount you can get as an attendee. Comparable to your trainee discount, which is not available to practicing physicians.

In this episode, we show you how to use gender-neutral discounting to lower your premium rates permanently.

Listen now!

Show Highlights Include:

How insurance companies decide how much to charge you on premiums (and how you can lower it in your benefit.) (1:04)

Why if you’re a females need to get your disability coverage ASAP (hint: you’ll likely end up paying a fortune) (1:45)

3 different scenarios take advantage of your disability coverage and claim benefits while working your profession (4:13)

How to claim the 30-40% gender-neutral discount before it expires permanently (7:11)

Disability premiums can be seen as a “luxury,” especially when various expenses wear you down.

Which makes it easy to delay paying it until a later time. But this is a fatal mistake.

Why?

Disability can come knocking on anyone’s door at any time.

So you must ensure your most valuable asset. That way, when hard times do come, you don’t have to sacrifice your and your children’s lives.

In this episode, I share advice on how you can pay off your debt and your disability coverage at the same time. So that you don’t have to put a pause on your lifestyle because of accidental disability.

Listen now!

Show Highlights Include:

Should you pay down your debt OR increase your disability coverage? (0:43)

Figuring out what your most important asset is so that you can protect your income during a disability (2:25)

#1 mistake physicians make about claims that eat up their income (3:21)

How to pay off both your debt and your disability premium in minimum time (4:55)

How to know if you’re underinsured by your insurance company (and discover when is the “right” time to upgrade your coverage) (7:51)

What do you think, as a young physician, your most crucial asset is?

Your retirement account or your real estate portfolio? Or some other type of holding?

What if I told you it’s none of that…

The most important asset as a young physician is your ability to get up from bed every day and do your job.

We’re talking about a lot of money here, especially as a young physician in the early thirties, when you’re likely to work for another 20 or 30 years.

In this episode, you’ll learn sound advice on what you should do as a young physician to get disability coverage in the event of an illness. While dodging the loopholes that insurance companies use to avoid paying on a claim.

Listen now!

Show Highlights Include:

The exact amount young physicians in their early thirties make on average (You qualify to make this amount if you’re early in your career) (1:21)

How much it costs to get disability coverage in the event of an illness. (Don’t end up paying more than what it actually costs.) (3:03)

How to win financially even if you get disabled at the end of your career (3:31)

The underhanded “out-clause loophole” that insurance companies use to avoid paying on a claim (Knowing this will save your life when things go south…) (4:20)

If you enjoyed and valued this content, you might also want to check out Why Buy Early? This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

Many physicians end up paying more than necessary for the same exact disability policy as another one who pays half of what they do.

Why?

They committed one of the 5 major mistakes which skyrocket disability policy rates.

In this episode, you’ll discover what factors determine the cost of your disability policies, so you can get the best deal possible.

Listen now.

Show highlights:

Why your disability insurance rate goes up by 5% for each year you delay buying it (1:25) 

How your speciality impacts your rates over the life of your policy (even if you switch specialties in the future) (3:25) 

Why buying your disability policy during your residency can unlock massive, life-long savings for the same exact policy (3:37) 

The “Trainee Discount” secret for reducing your disability policy rates (without sacrificing your coverage) (8:24)

If you enjoyed and valued this content, you might also want to check out Why Buy Early? This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

When physicians reach out to me about disability policies, they always ask what types of disability policies are available.

There are two different types. But even though they’re both considered disability policies, one works in your favor and you may be forced to pay back your benefits with the other one.

In this episode, you’ll discover the two types of disability policies, and which one you should choose for the maximum benefit.

Listen now.

Show highlights:

The 2 types of disability policies (and how to pick the best one for you) (0:49) 

The “adverse selection” reason for why group LTD policies restrict your benefits (3:14) 

Why you might be forced to pay back your disability benefits if you sign up for the group LTD policy (6:12) 

How to get paid your full disability policy (even after landing another job) (7:19)