Disability Insurance for the individual.

Physicians, Med Students, Dentists, Veterinarians, Optometrists, Professional Tradesmen

If you are unable to work due to illness or injury, you may have enough savings for a few weeks or months, but then what? How will you maintain income? Can you continue your same lifestyle? How about your family?

Disability insurance is the solution. Disability insurance replaces a portion of your income when you can't work.

If you are in your final 2 years of med school or in any year of residency, the only info needed to get a quote started is Date of Birth, Gender, Medical Specialty and whether you use Tobacco/Nicotine products. Additional factors to determine your final rate will be your health status and the amount of coverage you desire.

How much does it cost?

Expect for the premium to be between 1.5% and 3% of income for a good policy. Many factors can affect this, with age and current health condition being the biggest. The younger and healthier can certainly expect the best rates, but the most important thing is to think through your individual situation to get the coverage you need without paying for what you likely will not need. Every situation is different, but we shop to all the carriers below to find what is right for each individual.

To get a quote started, just complete the contact form at the bottom of the page.

You have a choice between:

Job A which pays 100% of salary if well but pays nothing if sick or hurt.
Job B which pays 98% of salary if well and 60% if sick or hurt.

Disability Insurance for the business.

Business Owners - plan ahead for what happens to your business and employees if you or another key employee are disabled.

Disability Income Insurance
Replaces lost personal income in the event of disability

This is what we are most familiar with - replacing personal income in the event of a disability that keeps a person from working.

Disability Business Overhead Expense
Reimburses business expenses for small business owners

This is for paying business expenses (payroll, rent, utilities, equipment, etc.) if the key person cannot perform their job due to disabilty.

Disability Buy/Sell
Funds buyout agreement for business owners

This is to fund a buyout agreement between business partners if one cannot work due to disability.

Disability Retirement Protection
Replaces lost savings for retirement - usually in addition to regular DI limits

This is to continue funding retirement accounts (401k, IRA, etc.) in the case of disability.

Disability Key Person
Disability insurance to protect owners from the loss of a key employee

This is to protect the business against the loss of a key employee due to disability.

Disability Loan Indemnification
Disability insurance policies that indemnify a bank loan

This is keep up the payments on a bank loan if income is curtailed due to disability.

For more details, see Definitions and Concepts.

The Quote / Application Process

Whether you are a student or are already in practice as a Doctor, Dentist, Optometrist, Pharmacist, Veterinarian, Attorney, CPA, or any other profession, the process is very similar. But there are some slight differences which are described below.

Students (Resident/Intern or in final 2 years of Med School)

Individual Disability Insurance

The process is very easy for students because your current income is not needed information.

We work with many insurance carriers and each has their own guidelines, but in general you are eligible for up to $5000 per month in disability benefit. But you do not have to start out with the maximum coverage. If you like, you can start low, and you will have the opportunity to increase your coverage over time as your income increases. No additional health questions will be asked as you increase coverage.

The Quote Process: We will look at your personal information (age, sex, specialty, tobacco status) and the rates and future purchase options for each carrier then present you with options and answer any questions to help you make a decision.

The Application Process: Once you decide, the application process can be completed online with just health questions. Most likely no physical exam will be needed.

First 2 years of practice (Any specialty)

Individual Disability Insurance

If you have earned your degree and are in your first 2 years of practice then you can cover up to $7500 (tax free) per month. Any existing Disability insurance that may be offered by your employer will also be considered to best match your coverage with your needs.

The Quote Process: We will look at your personal information (age, sex, specialty, tobacco status), the rates and future purchase options for each carrier then present you with options and answer any questions to help you make a decision.

The Application Process: Once you decide, the insurance carrier you choose will need to verify both your health and your income. This process can be completed online. There will be health questions, but most likely no physical exam will be needed.

Additional Coverages

Do you own your own private practice? You may also wish to consider Disability Overhead Expense, Buy/Sell, Retirement Protection, Key Person, Loan Indemnification. All of these are possibilities and can be considered, whether it be to apply or just to get an idea of rates and options.

Established practice (Any specialty)

Individual Disability Insurance

If you have been in practice for over 2 years, your needs may be changing. Depending on your income, you may be able to cover up to 67% (tax free). Any existing Disability insurance that may be offered by your employer will also be considered to best match your coverage with your needs.

The Quote Process: We will look at your personal information (age, sex, specialty, tobacco status), the rates and future purchase options for each carrier then present you with options and answer any questions to help you make a decision.

The Application Process: Once you decide, the insurance carrier you choose will need to verify both your health and your income. This process can be completed online. There will be health questions, but most likely no physical exam will be needed.

Additional Coverages

Do you own your own private practice? You may also wish to consider Disability Overhead Expense, Buy/Sell, Retirement Protection, Key Person, Loan Indemnification. All of these are possibilities and can be considered, whether it be to apply or just to get an idea of rates and options.