As a physician or medical professional, your #1 asset is your ability to earn an income. Yes, that is true. When you look at the numbers, it is not your house, retirement plan, or stock portfolio. Over your career, your ability to earn an income outpaces all of your other assets. However, this ability is fragile and can be easily lost permanently or for a period of time. Disability insurance helps protect against this risk.
Whether you are in your residency or are a seasoned professional, selecting the right disability coverage is a critical decision. There are a number of different companies that offer disability insurance. However, that doesn’t mean that these products all work the same. It is actually the exact opposite. Most of the company’s disability policies work differently from each other. Some of the areas to be aware of include the definition of disability, maximum coverage offered, inflation riders, non-cancellable provisions, premium structures, residual benefits, future purchase options and discounts. Additionally, company’s change the policies they offer frequently to deal with market conditions and competition.
M3 Advisors has the ability to compare, illustrate and explain the differences in policy offerings as it relates to you and your specialty. As an independent advisor, we are not beholden to any one company and are completely focused on helping you determine the best coverage for your situation. Having assisted physicians acquire coverage and then go on claim for the past 30 years has enabled us to be a trusted resource for consultation.