Author Archives: Billy Gwaltney

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 thier 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.

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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.

If you’ve ever worked with a financial advisor on your investments and retirement, they may have brought up the subject of disability insurance with you. But should you purchase your insurance coverage from the same person who handles your investments?

In many cases, those individuals are more focused on the financial side of their practice, and are less likely to be well-versed in the nuances of insurance, particularly disability insurance.

In this episode, Billy discusses the reasons that disability insurance specialists can get you policies that pay a greater benefit and cost you less in premium than regular financial advisors, as well as other potential risks to making a purchase from the wrong person.

Highlights from this episode include:

• Why buying your policy from a specialist can save you from catastrophic financial loss ([2:59])
• How a disability insurance specialist will cost you less money when you purchase, but get you more money if you have to use your policy ([3:50])
• What insurance agents know about policies that financial advisors are ignorant of and how it can burn through your bank account ([4:15])
• Why having the wrong person advise you on your policy can make the already complicated underwriting process a nightmare ([5:20])
• The difference between an agent and an advocate and the stressful situation where the wrong one can ruin your life ([7:35])
• What well-connected insurance brokers can do for you that no one else can ([9:20])

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.

Start A Conversation

If you enjoyed and valued this content, you might also want to check out Episode 59 – The rate is the rate. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

And/or Episode 62 – Certainty is the expectation. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

We are completely convinced that every physician should have an individual disability insurance policy. But what if you waited too long, or your medical history prevents you from qualifying for one? In that case, group coverage may be a good option.

In this episode, Billy discusses when you should opt in to your employers disability insurance, what to look out for when it comes to group coverage, and pitfalls that could leave you without insurance, even if you’re part of the policy. 

Highlights from this episode include:

• The only people who should rely on group coverage and why it could bankrupt you if you don’t fall into that category ([1:14])
• Why “adverse selection” can render group disability benefits worthless ([2:16])
• Does your group policy define your occupation this way? If so, it could mean you get paid $0, even if you become disabled ([3:00])
• The devious way coverage on your group policy can change without you even knowing about it ([4:55])
• The spectacularly confusing way definitions vary in group disability policies and how it can destroy your financial plan ([6:35])
• The ONLY way to ensure you actually protect your ability to earn a living with a group policy ([7:30])

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 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])

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If you enjoyed and valued this content, you might also want to check out 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.

 As a physician, there are seemingly endless demands on your time. From training to continuing education to your family… not to mention seeing patients, you feel like you’ll never get it all done. And you know you need disability insurance, but is it worth it to take the time for medical underwriting and add yet another thing to your list?

In this episode, Billy discusses the benefits of medical underwriting compared to a group policy, and how to slash the amount of time medical underwriting takes, so you get the coverage you need.

Highlights from this episode include:

• Why your guaranteed-issue policy is robbing you of benefits and how to fix it ([2:10])
• The smart doctor’s secret to streamlining the underwriting process and not wasting time ([2:38])
• Why group coverage policies cost you far more when you actually have to use them ([3:37])
• How to dominate the medical underwriting process and get a policy that won’t destroy your savings ([4:42])
• Why coverage offered to everyone… might not pay anyone ([7:19])

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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.

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)

If you enjoyed and valued this content, you might also want to check out Episode 57 – Billy’s initial conversation with a Surgeon Trainee. 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.

You’ve invested years of your life and thousands of dollars in your medical education and training so far. And you may believe that working in the healthcare industry makes you invincible. But what would you do if you woke up one morning and could no longer practice medicine? Do you have a backup plan?

In this episode, Billy discusses why disability insurance is an essential part of your professional life, and why you should consider protecting your income no matter where you are in your career.

Highlights from this episode include:

Why one doctor had his colleagues rushing to get disability insurance as fast as possible (2:12)

This tragic story shares a lesson on the right time to get disability coverage (2:46)

The practical reason for having the right insurance agent if you become disabled (5:05)

How to overcome the untimely end of your medical career (7:33)

How to get disability coverage for less than you thought possible (8:04)

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.

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])

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If you enjoyed and valued this content, you might also want to check out Episode 57 – Billy’s initial conversation with a Surgeon Trainee. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts. 

And/or Episode 60 – What if I do lots of Procedures & lots of Clinic. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts. 

And/or Is Disability Insurance Really Worth It? With Dr. Naguib Farah. This episode is available on this site’s podcast channel (Click HERE) or on Spotify or Apple Podcasts.

 Don’t let accidents, illness, or injury destroy your hard work. 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.

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 C.Y.A. Podcast, Billy Gwaltney shows you exactly what you need to do to protect your income and your way of life.