What is the Presumptive Benefit?

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the presumptive disability benefit, a crucial aspect of private specialty disability coverage for physicians. He explains how this benefit is automatically included in policies from top carriers and outlines the conditions under which a physician would be considered totally disabled. Real-life examples illustrate the importance of understanding this benefit, emphasizing its role in providing financial security for physicians facing unexpected health challenges.

Takeaways:

• The presumptive disability benefit is crucial for physicians and is automatically included in top-tier disability policies.
• Total disability can be triggered by specific losses. Permanent loss is required by some carriers, but not all.
• Partial losses can also impact disability benefits.
• Physicians should consider the implications of this benefit.
• Private specialty coverage is essential for protecting assets.