Author Archives: Billy Gwaltney

Most physicians know about term insurance. It’s cheap, and if you die, your family gets paid quite a bit of money. Whole life insurance is another matter entirely. It is more expensive, more complicated, and typically pays a smaller death benefit. So why would you ever purchase it?

In this episode, Billy busts some financially irresponsible myths about whole life insurance, discusses why you should consider it, and how to structure a policy to get the maximum value for your dollar.

Highlights from this episode include:

• If you don’t purchase whole life from this specific type of company, you’re losing thousands of dollars (1:46)
• The mind-blowing reason whole life is more expensive than term insurance (3:03)
• Why the conventional wisdom on life insurance may leave your family in debt when you die (3:40)
• The one essential question you must ask yourself about life insurance (4:32)
• How to structure your whole life policy like a billionaire (5:27)
• The astonishing truth about where banks store their cash (6:26)

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.

This is a more personal episode than we’ve done lately, but with all that’s going on in the world right now, it seemed like the perfect time to explain why we at PPG love working with you. Having worked with thousands of physicians around the country, we have come to realize that there are a number of traits that really make doctors a special group of people, and in this episode, Billy will discuss why you make the world a better place and the insurance business more enjoyable.

Highlights from this episode include:

• The truth about how you respond in times of crisis (2:09)
• These specific acts of selflessness set you apart from other professions (2:18)
• Why doctors can’t have a bad day (2:46)
• The bizarre way people seem to view those that help them in their most desperate times (3:54)

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.

Being a physician can be extremely difficult. Long hours, tough working conditions, and having to witness life-altering medical conditions and even death on a regular basis. It can take a serious toll on your mental and emotional state. Every once in a while this can cause even the strongest doctors to have a breakdown… or worse. 

So what if you can’t work and earn your salary due to a condition that isn’t a physical disability?

In this episode, Billy discusses how to get disability coverage in such a case, the options that are available, and how to determine if this option is right for you.

Highlights from this episode include:

• The secret to cutting through the confusion created by other agents and make sure you understand this benefit (1:33)
• If you’re in one of these specialties, you should get this coverage immediately (3:34)
• Insurance companies will use this to deny you psychiatric benefit coverage (4:54)
• When you can’t get the psychiatric benefit, this should be your very next step to protect your livelihood (6:19)
• The surprising truth about how long a psychiatric benefit is typically paid (7:32)

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 realize that it is essential to purchase disability insurance coverage as soon as possible, even before you’ve finished your training. But what happens when your income starts to increase, and the policy you have would no longer cover your expenses in the event that you couldn’t work. 

In today’s episode, Billy discusses the best way to make sure your policy will grow along with your career, how to maintain the proper coverage definitions, and how to increase your benefits, even if your health has declined.

Highlights from this episode include:

• Why the government hates disability income insurance benefits (1:52)
• This helps you maintain your original discounts, no matter what changes in your life (4:07)
• How to get increased disability coverage guaranteed, even if your health gets worse (4:36)
• How to protect your financial well-being when the insurance company won’t let your purchase this coverage (6:16)

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 a lot of moving parts to a disability policy, and this tends to lead to a lot of questions about what is covered and when. How long after a disability do benefits begin? What happens if you are disabled for a long time and prices of goods steadily climb? These are some of the factors that can have a tremendous impact on your financial future.

In this episode, Billy discusses how to choose the proper elimination period, how to protect your policy from inflation, and why it sometimes makes the most financial sense to select the more expensive benefit when you first get your policy.

Highlights from this episode include:

• How to save even more money while still getting great disability coverage (1:16)
• The most financially sensible amount of time to wait before your policy pays you (2:17)
• The optional coverage that protects your policy from the devastating effects of inflation (3:56)
• How you can adjust your policy to match your needs as they change over time (6:30)
• Do this now to prevent the insurance company from denying you coverage when you need it most (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.

 Much like disability insurance, many physicians don’t give much thought to life insurance early in their training. After all, your income isn’t as high, and you don’t have time to think about one more thing. But what would happen to your family if you suddenly died? They would still need income to get back on their feet.

In this episode, Billy discusses the reasons that early in your career is the time you most need to purchase life insurance, how to get the lowest possible rate and features that your policy must have.

Highlights from this episode include:

• You must take care of this one thing before considering term insurance ([2:51])
• The surprising reason you should purchase life insurance, even with a negative net-worth ([3:42])
• This is the time when you need life insurance the most ([4:12])
• The secret to getting the lowest life insurance rate possible ([6:20])
• If your term policy doesn’t have this feature, it may not cover you when you need it most ([7:35])

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.

Start A Conversation

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.

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])
• Many physicians fail to consider these factors when purchasing life insurance ([2:09])
• The economic circumstances you must consider to be confident you have enough insurance ([3:47])
• 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.

Start A Conversation

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.

Choosing the right disability insurance specialist is one of the most important financial decisions you can make. But if you choose poorly, you may not realize it until it is too late. You also want to make sure that you have a team of true professionals on your side to help you navigate the claims process if you ever have to use your coverage.

In this episode, Billy discusses the PPG Concierge Experience, and why it sets PPG head and shoulders above the competition in every area, from purchase through claim. 

Highlights from this episode include:

• The 4 stages of the PPG Concierge Experience and why it is superior to any other offer currently on the market ([2:00])
• Our proprietary process that saves you time AND money while also getting the best disability coverage possible for your situation ([5:05])
• How we handle claims, even when you are completely incapacitated, so the money doesn’t stop coming in ([6:42])
• Why selecting the wrong insurance professional can devastate your income in the event of a disability ([3:05])

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.

Start A Conversation

If you enjoyed and valued this content, you might also want to check out What is the process for buying a policy? 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.

Disability insurance can save you from financial ruin if you’re not able to work, but what happens when you are no longer considered disabled, but are still in recovery. Maybe you can do part of your job, but not all of it, and your pay is reduced as a result.

If you worked with an experienced disability insurance broker, you may be covered!

In this episode, Billy discusses another under-the-radar option coverage that your disability policy should have, and how to get the benefits when you most need them.

Highlights from this episode include:

• This almost completely unknown benefit could be the difference between solvency and poverty ([1:28])
• The average claim time for a disability policy and why you might not get any money for a much of that time… without this benefit ([3:24])
• Why the recovery benefit is essential and why most insurance companies don’t want you to know about it ([3:19])
• This is the only way you can be sure that you have access to the recovery benefit when you need it most ([5:45])

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.

Start A Conversation

 You know that you need a disability insurance policy, but what happens if you become partially disabled. Depending on your policy, you might not get paid a benefit at all if you can do a certain percentage of your required work. This leaves you unable to fully do your job (and get paid) and unable to claim disability benefits.

This is where the residual benefit rider becomes critically important. But you have to have an agent that understands exactly how this works.

In this episode, Billy discusses this additional benefit, how to ensure your policy has it, and a little known benefit related to this that you must have. 

Highlights from this episode include:

• How the residual benefit prevents a financial tragedy when your policy wouldn’t pay otherwise ([2:35])
• The devil is in the details, and why you need to fully understand policy definitions, or you could be paying for a policy that will never pay you ([2:58])
• The rare but vital benefit that saves you from having to return to work before you’re physically capable of doing your specialty ([3:09])
• How insurance companies may include a residual benefit, but still screw you out of the coverage when you need it most ([5:45])

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.

Start A Conversation

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.