Ever wondered what happens to your disability policy if your income increases in the future? In this episode of the Cover Your Assets Podcast, host Billy Gwaltney tackles this common question for physicians and other high-income professionals.
Through his expertise as an independent broker, Billy explores the intricacies of adjusting your private specialty occupation disability coverage as your salary grows. With insightful explanations and practical advice, you'll understand how to keep your financial safety net robust as your career progresses.
Episode Highlights:
- Explanation of future increase options and benefit increase riders. (02:06)
- Insurance companies' calculations for coverage amounts and potential caps. (03:39)
- The critical need for proactively increasing your coverage; and what happens if you don’t. (05:38)
The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. 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! Don’t let accidents, illness, or injury destroy your hard work and the life you deserve. 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 Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.
For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.
If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.
Billy Gwaltney
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