Author Archives: Billy Gwaltney

Is being an independent broker in the insurance world the same for everyone? Host Billy Gwaltney answers that question in this episode, exploring the differences in being an independent broker in the insurance industry. He breaks down the two broad categories of independence and discusses the advantages of working with a truly independent broker who prioritizes the client’s needs over company affiliations.

If you’re curious about the true meaning of independence in the insurance broker world and want to ensure you’re getting the best coverage for your needs, this episode is a must-listen.

Episode Highlights:

 Billy defines the term “independent broker” and discusses the varying definitions within the insurance industry. (00:52)

The importance of specialized coverage and the benefits of working with a broker who represents companies with the strongest contracts. (2:46)

Billy uncovers the truth behind brokers who claim to be independent but repeatedly recommend the same insurance company as the solution. (5:40)

The commission structure for brokers and how productivity bonuses should not impact their independence. (7:07)

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You’ve spent years of your life and hundreds of thousands of dollars to become a physician – this is the career that will give you and your family everything you’ve dreamed of! Don’t let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney shows you exactly what you need to do to protect your income and way of life.

Stay up to date with Billy on ⁠Facebook⁠, ⁠LinkedIn⁠, or ⁠YouTube⁠.

If you have questions, feedback, or just want to connect, email Billy at ⁠billy@ownoccdisability.com.⁠

Did you know that the average disability claim lasts for nearly 7 years? In this episode, Billy Gwaltney delves into the duration of disability claims and why it’s important to have the right insurance coverage. He breaks down statistics from the Council for Disability Awareness and highlights the most commonly claimed types of disabilities. Learn more about the significance of the true specialty own occupation definition of disability and the need for a long-term recovery benefit.

Tune in to this episode to learn more about the duration of disability claims and how to protect your financial security.

Episode Highlights:

Statistics from the Council for Disability Awareness on the duration of disability claims. (00:45)

Types of disability claims and the most common illnesses that cause them. (3:43)

The importance of having insurance coverage that considers your specific occupation and allows for alternative ways of practicing medicine, even if you can’t physically show up to work. (5:46)

Why you need a long-term recovery benefit in your insurance coverage. (8:55)

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You’ve spent years of your life and hundreds of thousands of dollars to become a physician – this is the career that will give you and your family everything you’ve dreamed of! Don’t let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney shows you exactly what you need to do to protect your income and way of life.

Stay up to date with Billy on ⁠Facebook⁠, ⁠LinkedIn⁠, or ⁠YouTube⁠.

If you have questions, feedback, or just want to connect, email Billy at ⁠billy@ownoccdisability.com.⁠

In this episode, host Billy Gwaltney takes a deep dive into the three key elements that make up a top private specialty disability policy and why they’re essential for physicians looking to safeguard their financial security and maintain peace of mind. Billy breaks down each element in detail, offering insights and advice to help listeners make informed decisions about their coverage options.

Listen to learn more about the three pillars and gain valuable insights into securing comprehensive coverage.

Episode Highlights:

The first pillar: True Specialty Own Occupation Definition of Disability. Learn why this definition is crucial for ensuring policyholders receive full benefits even if they pursue alternative income sources. (1:53)

The second pillar: Enhanced Residual Benefit. Explore how this benefit covers partial disabilities, providing income support for physicians who can work part-time due to illness or injury. (3:52)

The third pillar: Recovery Benefit. Discover how this benefit ensures physicians receive continued support if they medically recover from a disability but experience a decrease in income upon returning to work. (5:04)

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You’ve spent years of your life and hundreds of thousands of dollars to become a physician – this is the career that will give you and your family everything you’ve dreamed of! Don’t let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney shows you exactly what you need to do to protect your income and way of life.

Stay up to date with Billy on ⁠Facebook⁠, ⁠LinkedIn⁠, or ⁠YouTube⁠.

Have you ever wondered why physicians are required to sign HIPAA authorization and HIV consent forms?

In this episode, host Billy Gwaltney answers this question and sheds light on the importance of these forms during medical screenings for disability coverage. Billy explains how the HIPAA authorization allows underwriters to verify medical information and request medical records if necessary, while the HIV consent form is a precautionary measure in case labs are required.

Listen to learn more about these crucial forms and why they are necessary for obtaining insurance coverage.

Episode Highlights:

The purpose of signing a HIPAA authorization during the application process. (1:03)

How the HIPAA authorization allows underwriters to access medical records and conduct a medical evaluation for disability coverage. (2:00)

The significance of the HIV consent form and its connection to insurance physicals and lab tests. (03:06)

Why the signed HIPAA authorization and HIV consent forms are essential for submitting an application and obtaining coverage. (04:01)

The Cover Your Assets Podcast is on a mission to help physicians like you get their insurance right. You’ve spent years of your life and hundreds of thousands of dollars to become a physician – this is the career that will give you and your family everything you’ve dreamed of! Don’t let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need tobe insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney shows you exactly what you need to do to protect your income and way of life.

Stay up to date with Billy on ⁠Facebook⁠, ⁠LinkedIn⁠, or ⁠YouTube⁠.

If you have questions, feedback, or just want to connect, email Billy at ⁠billy@ownoccdisability.com.⁠

Why do shady brokers take advantage of so many innocent physicians?

The biggest reason is that most people want cheaper rates, even though the top 4 companies offer safe, worthwhile coverage…

In other words, they set themselves up for misfortune…

This leads to losing thousands of dollars every year. Plus, it causes hours of stress and endless troubles when a disability case comes up.

In this episode, you get to see the common pitfalls that price shoppers face… And you’ll discover how to prevent shady brokers from taking advantage of you, so you get the coverage you deserve.

Tune in now!

Show Highlights Include:

The dirty little secret shady brokers use to dupe you into paying thousands of dollars extra for cheaper coverage (2:25)

3 overlooked coverage mistakes that could cost you a fortune (3:00)

Make sure you have these “Vital Cost” features in your coverage when buying (Warning: Not knowing these allows your broker to take advantage of you…) (3:28)

Three “Life Saving” features without which your coverage is useless (Note: Missing one of these means you’ll be left high & dry during a disability) (4:25)

Surprising reason why using a graded premium is going to cost you thousands of dollars more instead of saving money (5:24)

As a physician, your time is limited…

So, don’t waste it searching through info on disability insurance that won’t help you.

With so much bad advice out there, it’s crucial to get the right details!

Otherwise you risk yourself into policies that charge you crazy premiums and never pay off when crisis strikes… Leaving you and your family high & dry…

That’s why I’m here to share the crucial bits you need to know before getting disability insurance. This way, you’ll be safe from shady policies and save yourself years of headache and money.

Listen now!

Show Highlights Include:

Your most crucial asset as a young physician to take care of (hint: it’s not what you think) (1:43)

Don’t have time to look into disability insurance? Here are the top 2 disability policies you need to know about (3:00)

#1 insurance type you need to have now (Note: This will save you years of headache & money) (3:24)

The sneaky ways certain policies siphon all your money and leave you high & dry during a crisis (3:41)

Make sure your coverage has THIS benefit added on to it (Having this will save you from insurance companies that try to cancel your policy) (6:35)

Getting coverage is easy, considering all the options you have.

But knowing what to pick or who to go to get help from is tricky.

To make matters worse: There are tons of bad brokers that will gladly take your money from your pockets. And employers that promise big payouts but leave you high & dry in times of crisis…

In this episode, I’ll reveal exactly how you can navigate the various minefields of the insurance world and get the right coverage for you.

Listen now!

Show Highlights Include:

The real truth behind insurance companies and why most people can’t get a higher premium (2:46)

Surprising reason why you’ll be charged the same by insurance companies even if your pay goes down by more than half (4:09)

2 crucial factors insurance companies look at when deciding how much coverage you need (5:25)

The earliest you’re eligible for an increase in coverage as a trainee (Note: Look out for this window so that you can get more coverage over the long term) (6:06) How to get more credit for your coverage on your guaranteed bonus on pay (7:13)

Are you an independent contractor? Here’s how long you need to wait before an insurance company will give you credit for your new income (7:41)

Sneaky “Definition Watering” tactic insurance companies use to make it difficult for people to collect coverage (and how you can prevent that) (10:36)

How your employer could unknowingly cause your private speciality disability benefit to go down by half (and what you can do to avoid it) (12:00)

The dirty little secrets of employers who brag about having up to 60% of their salary replacement as a joining benefit (13:19)

Embracing an entrepreneurial mindset unlocks unfair advantages.

Not only does it save your most valuable assets (time and money), but it also makes you more credible in your patients’ eyes. In fact, this can make you the top choice in your entire market.

But how can you embrace an entrepreneurial mindset as a physician?

In this episode, I reveal how to think like a business owner, and revel in the  unexpected benefits that thinking like an entrepreneur unlocks.

Want to save time, cut costs, and become the most in-demand physician in your market?

Listen now!

Show Highlights Include:

The ONE simple mindset shift that can help you think more like an entrepreneur and earn more by as soon as next week  (1:58)

Why having an entrepreneurial mindset helps you better serve your patients (and helps you pay off your student debt in half the time) (3:45)

How to position yourself as the #1 physician in your area and make patients line up around the block to see you (5:33)

The counterintuitive reason why a lot of physicians end up becoming entrepreneurs without realizing (and how not using this fact to their advantage is costing them time, money & credibility) (6:24)

Picking the right disability coverage provider is a big deal.

Why?

Because they’ll be your safety net when times get tough, and you’ll be paying them for a long time.

Make sure it’s a wise investment.

Join me in this episode as I reveal the top companies we recommend, along with what to watch out for. Plus, I’ll share two more alternatives if you can’t access the top four.

Tune in now!

Show Highlights Include:

The Ultimate Disability Coverage: 4 Companies You Can’t Afford to Overlook (Warning: Choosing Otherwise Could Cost You Thousands) (1:05)

Choose this company if you expect to have an exception during the lifetime of your policy (Note: no other company will let you add changes to your policy) (1:54)

Want the lower rates on your policy? Choose THIS! (This will save you a fortune on premiums over the years…) (2:15)

Medical screenings are a concern? Can’t pick among the 4 companies? Here are 2 more companies you can pick (3:55)