Beware of Your Employer’s Group Long-Term Disability Policy

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the critical importance of understanding disability insurance for physicians. He emphasizes the pitfalls of relying on employer group long-term disability policies and highlights the advantages of private specialty coverage. The conversation covers the limitations of group policies, including adverse selection and broad definitions of disability, and stresses the need for physicians to be proactive in securing their financial future through proper insurance planning.

Takeaways:

• Relying on employer group long-term disability policies can be risky as adverse selection can undermine the effectiveness of group policies.

• Group policies often have limitations that can leave you vulnerable. Private specialty coverage offers better protection for physicians.

• Many employers may not fully understand the policies they offer.