Author Archives: Billy Gwaltney

Your disability insurance policy may include a Future Insurability Option. With an FIO, you can increase your coverage without an updated medical review.

This allows you to increase coverage throughout your career.

But what if you don’t take this option, or you let it lapse? When you find yourself in need of more insurance, it can be costly — or outright denied.

Don’t leave your future disability insurance up to chance.

Listen now to discover how to keep your future insurance options flexible.

Why getting an inexpensive FIO early in your career can save you thousands of dollars (1:00)

How to get the most from your FIO before you reach your insurance company’s age limit (1:50)

Why getting an early medical screening may limit your Future Insurability Options (and what to do when that happens) (2:33)

Red flags that an insurance provider might not honor your original FIO (4:09)

Why getting an FIO is most important when you’re on a tight budget (5:55)

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.

To get disability insurance, your provider needs to review your medical history. That history is your medical underwriting. It determines your insurance rates. And once that insurance cost is set, it only covers your income at the time of that review.

What happens when you make more money? With a Benefit Update Rider, you have the option to increase your coverage to match your income.

These Benefit Update Riders have limits that you must know if you want to maximize your coverage.

Don’t get stuck with an outdated policy. Discover how a Benefit Update Rider gets you the most out of your disability insurance.

Listen now to find out how to keep your insurance costs low and coverage high.

Show Highlights Include:

Why you want to buy a Benefit Update Rider early in your career (1:11)

The “gotcha” clause that can cancel your Benefit Update Rider (and what you need to do to keep it) (2:58)

How to avoid a review of your medical underwriting to keep your insurance costs low (4:15)

Why your insurance provider sees you as a statistic — and how to use this to your advantage (6:20) The three exceptions to your Benefit Update Rider that allow you to upgrade your insurance coverage early (7:17)

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.

Combining your disability coverage with life insurance sounds like a smart financial move. You want to cover career gaps after an injury and get the coverage that always protects your loved ones.

But having a sustainable financial future starts with knowing what discounts work for you. Combining policies is a case-by-case situation (and you don’t want to stack your policies on bad advice).

In this episode, you’ll discover the best way to combine your policies for protection that lasts a lifetime (and if it’s right for you).

Highlights from this episode include:

The contract trick for getting more discounts than you ever imagined. (1:50)

How to get extended grace periods and all the exceptions you need in your coverage today. (3:04)

How to avoid the ‘chop shop’ company policies that suffocate your finances and play by the book.  (4:20)

The smartest time to diversify your insurance coverage. (4:54)

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 Physicians Entrepreneurial Approach to Financial Planning with Kyle Christensen Pt.1. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

And/or Physicians Entrepreneurial Approach to Financial Planning with Kyle Christensen Pt.2. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

When it comes to policy shopping, you might combine disability coverage with life insurance. But you want to make sure you get the most protection (without paying the most in fees).

There are a few things to consider in the underwriting process of combining plans. Getting the best rates is about knowing how discounts work for you.

In this episode, you’ll discover how to find the best rates for combining plans (and if it’s the right move for you).

Highlights from this episode include:

The most efficient underwriting process for getting $1 million of no-exam coverage. (1:04)

Why purchasing life insurance at your healthiest locks in the best rates right now. (2:26)

The ‘Smart Term’ strategy for making coverage less expensive and longer-lasting.  (3:58)

Why life insurance is the best way to protect your wallet today. (5:06)

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.

It might feel like a waste of money getting coverage if you don’t perform extensive surgeries or exhaust your body every day. But a policy is about much more than preventing injuries….

The perfect policy will take care of your income when you’re sick or injured. Those things happen all the time and you need time to recover (without stressing about your next check). Cover will make sure your income recovers (even after you do).

In this episode, you’ll learn why everyone outside the operating room needs specialty coverage – and how to protect your money and preserve your career from unlikely accidents.

Highlights from this episode include:

Why car accidents and hand injuries are not the biggest threat to your medical career today (even if you work in a high-paced environment). (0:44)

How to collect a streamline of disability benefits and make as much money as you want at home after being injured. (1:59)

Why group disability plans won’t always cover your injuries (even if you’ve got a valid reason).  (3:54)

How to tell if a policy will protect your finances (or leave you ‘high and dry’ in stressful circumstances). (5:38)

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 58 – Billy’s initial conversation with a Non-Surgeon Trainee. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

You might think you’re medically ‘uninsurable’ based on something that’s happened in the past…but conversations about coverage don’t end with a ‘yes’ or ‘no’ answer.

And by asking the right questions and knowing what options are available, you can explore the alternatives and find a powerful plan that protects your career (even if it’s not the one you wanted).

Remember: Everything is temporary.

In this episode, you’ll discover how to find the best coverage if you think you’re uninsurable and why asking the right questions offers your career more benefits and protection than you think.

Highlights from this episode include:

How to ask the right questions if you think you’re uninsurable. (0:28)

The ‘silver lining’ in turning your insurance rejection into future coverage. (1:50)

Why “settling” for a smaller carrier offers a better policy than a big-name company. (2:30)

How to avoid the pitfalls of self-insurance and find a policy that preserves your career (and protects every move). (3:38)

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 can’t land the best contract available or get the disability benefits you want, it might feel like it’s not worth paying for. But as strange as it may seem, policies with exclusions are better than no policy at all.

You might have a less-than-perfect offer right now, but find ways to improve your policy in the future. As the famous saying goes: Don’t miss the forest through the trees.

In this episode, you’ll discover what to do when your options in disability coverage are limited – and why getting a plan in place is more important than getting the plan you want.

Highlights from this episode include:

How to weaponize your rocky medical history and find the coverage that best defends your health. (0:40)

What the “as of now” phrase means for the policy you were offered today, and how to get exclusions removed or riders included in the near future. (2:41)

Why self-insuring quickly drains your finances and how to pick a policy worth every penny (even if it’s limited). (5:50)

The ‘bad news, good news, and better news’ about the disability coverage you select (and how to not let faulty assumptions pick the wrong plan). (8:08)

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 How long does the medical screening take? This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

When looking into insurance rates, you might notice that the cost of a disability plan for females is significantly higher. But you don’t want to settle on a plan that doesn’t protect and preserve your career (just to save yourself from paying premium rates).  So what’s the reason for the extra expense? And should you pick a plan based on price? In this episode, you’ll discover how to find the maximum discounts as a female physician in the market and why your premium prices end up paying for themselves down the road.  Highlights from this episode include:

Why disability rates for females are significantly higher and how to find the best discounts in the market (without signing off on a bad plan). (0:40)

How the Disability Council statistics set your prices and why it is essential for female physicians to have a strong plan right now. (2:20)

The real reason you should pay more money for a disability plan right now (and how life insurance helps you cover the costs later on). (3:49)

What paying premium rates mean for buying a house, where your kids go to school, and how to plan for retirement. (5:20)

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.

Nobody wants to plan for the worst, but when it comes to an unexpected disability on the job, you don’t want to be digging in your savings account just to cover the rent. With the right coverage, finances are immune to expenses and you can focus on your recovery (without worrying about missing work).  In this episode, you’ll learn how Principal disability insurance preserves your career today while protecting your wallet from the unexpected tomorrow.

How Principal disability insurance immediately saves you from massive penalty fees and lost income during a disability leave (0:58)

Why you should frequently update your disability insurance and how this affects your income right now. (2:15)

The discounts you need for psychiatric benefits and how to get support in your career for a lifetime. (6:03)

The real reason cancer or a stroke messes with your disability coverage – and how to protect your bank account from catastrophic expenses today. (8:39)

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.

It’s hard to find the perfect policy for your unique situation. And with disability insurance, mistakes are costly – you can’t afford to find out about your contract’s details when you’re already disabled and can’t perform your job.  That’s why it’s important to make the right choice from the beginning. And that starts with choosing a provider you can trust. In this episode, I introduce you to Guardian, an insurance provider I believe to be trustworthy for multiple reasons.  

Whether you’ve heard or Guardian or not, you’ll find out all about their policies in this episode so that you can make an informed decision.  Want to protect your and your family’s lifestyle no matter what happens to you? Listen now! Show highlights include: 

The definition of disability you should look for in your insurance contract (this ensures you get coverage custom-tailored for physicians). (1:22) 

How the “future insurability option” lets you receive up to $30,000 per month while you’re disabled. (1:58) 

Why a Guardian contract ensures you even when you’ve only lost part of your income. (2:52) 

The best contract for physicians who struggle with depression, anxiety and addiction. (3:35) 

How to increase your insurance benefit when the cost of living goes up. (4:44) 

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.