August 20, 2008
Saving Your Life with Disability Insurance
By Pilot in Health | 0 comments
As people start new careers in medicine, there are plenty of things to consider – choosing a specialty, location and setting up a practice are just a few of these. One thing that is often overlooked is the insurance. I don’t mean the mandatory insurances for business operators, or the standard malpractice insurances you’ll doubtless require. Rather, it is disability insurance I’d like to draw your attention to today.
Physician disability insurance, as the name implies, provides insurance for physicians in the event that they become disabled – either permanently or on a temporary basis – and are unable to do what is necessary to earn a living. While there are a few people out there who could get along just fine without a regular income, the majority of people aren’t working for the fun of it – they need their wages to support their lifestyle. Ask yourself if you could get by without your salary, if the answer is NO then you need to start getting disability insurance quotes.
While your employer may provide some degree of disability cover, and there are programs like Social Security and Workers’ Compensation to help people in the event of an accident or illness, these may not be enough to protect your lifestyle. You’ll need to consider long term disability insurance, as well as the finite terms and conditions of any policy to be sure you and your family is fully protected in the event of a tragedy.
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