Author Archives: Billy Gwaltney

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.

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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.

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 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.

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.

Start A Conversation

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])

Start A Conversation

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.