Author Archives: Billy Gwaltney

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.

Top insurance companies are quick to roll out the red carpet for physicians-in-training. They offer large discounts and quick medical scanning.

It’s a great deal if you can afford it. But it’s not as easy putting your life on hold and going into debt for a career. It’s difficult getting the best discounts for your career and health. Budget shouldn’t get in the way of affording the life you deserve.

Listen now to budget for the disability insurance that protects your career (and preserves it for life).

Show highlights include:

Why disability insurance is more important than income, investments, and retirement plans altogether.  (2:38)

How to preserve your health and lower the risk of injury on the job. (5:25)

How to afford more coverage throughout your career (regardless of any health changes). (7:15)

How to lock in discounted training rates and avoid medical screenings for life. (8:04)

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

When you feel unsure about picking a policy, a broker agent can influence your decision. Trust is important. You should have an agent who is always looking for your best interest in a policy.

You want to have confidence an agent is on your side and always advocating at your time of claim. A policy should feel in your control (and not the other way around).

Make sure you’re on the right page with your broker agent. Trust is key to your perfect policy.

Listen now to find out if you can trust what your agent has to say (and the ultimate decision you make).

Show highlights include:

How to tell if you can trust what a broker agent tells you (and the policies they present). (0:39)

Transforming a bland, unsupportive policy into your biggest advocate for claims and incentives. (1:37)

How to pick the perfect policy for you (without getting distracted by big names and contracts). (3:05)

How to tell if you are being given a part of a disability policy or the whole thing. (4:40)

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 Do I need a broker? This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

AMA leads as the big influence in disability policies. But their prices may not be worth what’s between the fine lines. There are a significant amount of gaps in their policies. And at the end of the day, the control should be yours (and not the other way around).

Is AMA here to protect you or collect from you?

Listen now to see if you can trust what AMA policies have to say.

Show highlights include:

How to avoid losing control over your coverage (and collect from many policies). (1:31)

How to keep discounts for life (without someone trying to raise or remove them).(3:42)

How to earn unlimited income with your policy (and keep the benefits you already have). (4:33)

How to collect for over a decade by avoiding this clause. (4:38)

Why AMA’s cheaper prices aren’t worth the policy (and how to think ahead). (8:12)

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

There are so many different options when it comes to choosing your insurance plan. From future insurability potential to benefits that will increase as your earning does, choosing between the wide array of plans can become overwhelming quickly.

When looking toward your future, it can be even more difficult to decide whether you should bet on your future earning capabilities, or go with a plan that increases as your income does.

In this episode, I’ll walk you through the benefits and pitfalls or the future insurability and benefit-increase options to prepare you for choosing an insurance plan that will truly work in your favor as you move forward in your career.

Show Highlights Include

The future insurability option writer that can get you up to $20,000 a month of coverage (1:30) 

The massive downside of exponentially increasing your coverage as your income increases (2:45) 

How to increase your insurability without paying an ongoing fee (3:35) 

The financial formula you and your broker should use to determine your increase eligibility on your insurance (4:00) 

The big stipulation that will automatically remove your benefit-increase writer from your mass mutual policy (4:25) 

Why the future insurability option can massively cap your insurance coverage (even if you don’t want to) (7:15)

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.