Author Archives: Billy Gwaltney

If you’ve ever looked into disability insurance coverage, you know that it can be confusing. There are so many terms and definitions that it can make your head spin. But if you focus on the essentials, it becomes easier to understand.

In this episode, Billy goes over the 4 key elements of a disability insurance policy that you must understand, and explains why they matter to you and your family.

Highlights from this episode include:

The 4 key elements of disability insurance and why getting them wrong can end your life as you know it (1:01)

The devious way insurance companies can prevent you from earning income outside of medicine (2:08)

The benefit you must have in the event of a partial disability (3:06)

This mysterious benefit is essential but almost completely unknown by most physicians (3:49)

The almost magical trick to saving money on insurance, even as your income rises (5:50)

You probably already know that disability insurance is something you need to have, but you might have wondered if you need it while you’re young and not making much money.

In this episode, Billy discusses the benefits to getting your disability coverage as soon as possible, and why waiting could leave you without insurance when you need it most.

Highlights from this episode include:

The #1 reason you must consider getting your coverage as early in your career as possible (1:01)

Your financial exposure is higher than you think as a resident and how to protect your future (1:56)

Why the discounts you get now save you even more money later (3:57)

How to make the process as painless as possible, even when you feel like you don’t have a minute to spare (7:18)

The life-changing risk you take by waiting to purchase your insurance (7:55)

Getting your own specialty disability coverage is one of the best decisions you can make for your financial future. But should you try to do it by yourself? If you’ve ever looked into disability insurance, you probably know that policies are filled with confusing language and definitions. And to top it all off, companies use their own special names that don’t always make sense.

And then there’s the medical and financial underwriting process that can be tough to do on your own.

In this episode, Billy goes over the most important things to be aware of when purchasing disability coverage, and why having a specialist guide you through the process can make it much faster and easier than you ever thought possible.

Highlights from this episode include:

Get these policy details wrong, and the insurance companies will just take your money while you struggle to support your family (:58)

How to breeze through underwriting, saving you tons of time, while still getting the disability coverage you need (3:05)

Why your medical history is not necessarily a deal-breaker and how to get the coverage that could prevent a financial catastrophe (4:30)

The horrifying scenario that can result in you being approved for a policy, but not being paid benefits when you need them most (5:13)

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.

When it comes to you and your disability insurance, words matter. Specifically the policy language that defines your occupation. How this part of the policy is worded can make the difference between the insurance company paying you during a disability, or leaving you high and dry on a technicality.

In this episode, Billy discusses how this definition should be worded and common pitfalls that doctors like you need to be aware of when it comes to disability insurance.

Highlights from this episode include:

Why the wrong occupational definition could bankrupt you and your family (1:46)

How to continue earning a living, even when you can’t practice your specialty… And still, keep your insurance benefits (2:41)

Is the policy provided by your employer good enough? Not if it doesn’t have this specific feature (3:12)

The commonly misunderstood emotional cost of disability and how to protect yourself from mental breakdown (4:45)

If your policy has this common definition of your occupation, you’re heading for financial ruin (5:34)

Buying disability insurance can be confusing—especially as a physician. With all the different levels of experience, specialties and more it’s easy to get overwhelmed by all the options.

But when you have a clear overview, your confusion fades and you get confidence that lets you make a great decision for yourself and your family.

If you’re in a non-surgical specialty and want to discover what disability coverage is right for you, this episode is for you.

To simplify this, I’ll reveal a free spreadsheet to you navigate the various coverage options available so you can make the most informed decision.

In this episode, I’m going to walk you through how to read this spreadsheet to help you build even more confidence when choosing disability coverage.

You’ll also find out why I only endorse 4 out of the 70 companies that sell coverage and why it’s vital no have “no moving parts” when choosing a package.

Listen now!

The most common question about the disability coverage spreadsheet (and the answer that removes your confusion) (1:20)

The only 4 companies you should trust for your coverage (and how to spot suboptimal policies) (4:52)

Why “non-cancellable” and “guaranteed renewable” should be in every disability policy you take on. (5:37)

Discover how to pay for your coverage if you don’t have $5,000 for premiums (6:53)

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.

You’re a busy physician. You barely have time to think, let alone worry about things like disability insurance policies.

But the wrong policy could mean the difference between being able to support your family and losing everything if you can’t work due to an illness or injury.

That’s why we’re here to help.

In this episode, you’ll get a 30-minute rundown of the policy spreadsheet, so you never have to wonder again if you’re getting the best coverage for you and your family.

Listen now!

Show highlights include:

Why there are only 4 policies that cover you fully (even if there are hundreds to choose from) (3:54) 

Prevent your insurance company from decreasing your coverage by looking for these 2 terms in your contract (4:57) 

Why an extra 90-day “nest egg” can slash your insurance premium (6:55) 

How to keep working after you claim disability insurance without sacrificing your payout (7:47) 

How to lock in a “trainee” discount (even if you want to increase your coverage as an attending) (12:27) 

A loophole with AmerUs that lets you profit from minor injuries (even if you got the injury skiing, and even if you can still work) (19:25) 

The “good health benefit” that pays you sooner in the event of a disability (20:58) 

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.

As an early-career doctor, you’ve barely got a spare minute to yourself. The last thing you want to do is spend hours poring over insurance policy options.

But choosing the right disability insurance policy is one of the most important financial decisions you’ll ever make. Without it, you could lose your biggest asset: your ability to earn an income.

Thankfully, brokers make your life easier by comparing policies for you. But the wrong broker makes you pay a lot for incomplete coverage!

In this episode, we help you identify good brokers by applying the golden rule: “the rate is the rate”. You’ll also discover some common “red flags” to spot a shady broker.

Listen now!

Show highlights include: 

• Why “shopping around” for the cheapest broker now could force you to overpay for the rest of your life (1:35)
• How to stay insured when you work abroad (without hunting for an overseas broker) (3:47)
• Why good brokers advocate for you in the event of a claim (even if you don’t pay them any more) (4:11)
• Avoid hours of being on hold with your insurance company by signing one piece of paper (4:50)
• The most common “red flag” that leaves doctors disabled without an insurance payout (5:26)
• How shady brokers pay themselves twice while ripping you off – beware of the “step premium” (6:08)
• Why you should run the other way if your broker insists on “medical before quote” (7:47)

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 56: Billy’s initial conversation with a Female Trainee. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

And/or 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 Discounts – How do they work, who can get them? This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

And/or Do I need a broker? 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.

You know that disability insurance protects you if you are injured and unable to work, allowing you to still provide for your family. But what about the true worst-case scenario… Dying and leaving your family without any financial resources at all. This is where life insurance plays a significant role in your financial plan.

In this episode, Billy discusses how to calculate the proper amount of life insurance, and important factors to consider when purchasing your policy.

Highlights from this episode include:

This life insurance calculation helps make sure you have enough coverage to keep your family from starving (0:54)

The economic circumstances you must consider to be confident you have enough insurance (3:47)

Many physicians fail to consider these factors when purchasing life insurance (2:09)

Why the wrong mindset on life insurance can destroy your legacy (6:01)

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.

Ameritas, one of the largest disability insurance companies, has two fixed premium choices. And while one is more expensive than the other, it doesn’t make it the best rate. Or even the one you should choose.

There are many reasons to pick a policy. But you shouldn’t depend on price alone (especially when those prices can change).

Knowing the nature of a policy helps you make the best choice. So that you can focus on work (without the worry of increasing policy rates).

Listen now to find which coverage keeps you secure (and which restricts you by rates).

Show highlights include:

How to pick a premium option that compliments your career (instead of depending on the price). (1:10)

How to keep your rates from the ‘Red Tape Nightmare’ and avoid paying more out of pocket. (2:32)

Why policy holders won’t raise their rates overnight. (4:27)

How to find the ‘Sweet Spot’ in your coverage and avoid overpaying for life. (5:58)

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.

When it comes to getting reimbursed for any injuries, there are 4 top tier companies that offer a non disabling injury benefit in your contract. But knowing how this benefit impacts you makes all the difference in your next injury.

You don’t want to fall in debt or lose your job over a sprained ankle. Risks are everywhere and protecting yourself is the key to a long and successful career.

Listen now to improve your finances and peace of mind through this top tier injury benefit.

Show highlights include:

How to get reimbursed for any injury (no matter how it impacts your career). (1:17)

Why Ameritas covers up to 50% of your injuries (regardless of health insurance). (3:24)

How to make the most money from your contract using the Sprained Ankle story. (3:44)

How to protect an active lifestyle and preserve your way of living (without the fear of injury). (4:20)

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.