Disability Insurance
For Doctors, By Doctors
Not sure who to trust or how to navigate the confusing process of disability insurance?
Let us help.
Dr. Jimmy Turner
Founder of Money Meets Medicine
I’m Dr. Jimmy Turner – a practicing anesthesiologist and founder of Money Meets Medicine
When I was a 4th-year med student, I was talked into applying for disability insurance, which led to the largest financial mistake of my life… (and I don’t want you to make it, too!)
This framework (and story) is why I teach doctors about personal finance…
After our first kid, I wanted life insurance. Instead, the agent talked me into applying for disability insurance, but didn’t tell me about the kind I needed (because he didn’t have access to it so he wouldn’t have made any money).
The problem? Fully underwritten disability insurance requires a medical history. My history included an essential tremor and a remote ADHD diagnosis.
So, when my agent pushed my application through, I got denied just like 50% of doctors do when they apply for this kind of disability insurance. No big deal, right?
Wrong.
When you get to training, you have access to a GSI (guaranteed standard issue) insurance policy. A GSI requires no medical exam, history taking, or bloodwork.
It is GUARANTEED. (But not offered by your residency/hospital – so they usually don’t know about it)
One of the only stipulations, though, is that you cannot have been denied before applying for disability insurance with the wrong company. That is why, to this day, I cannot get disability insurance, and if I lost my income, my family would be in a financial catastrophe.
The smart move then? To make sure your agent has access to the GSI offered to residents at your program. You must apply with the right company, so that you have the GSI as a fallback option.
Said differently, you must apply for the fully underwritten policy that looks into your medical history, with the same company that is providing the GSI as a “fall back” option if you get denied…
The problem? Most agents don’t have access to all of the GSIs. So, they often push you toward something they can sell, even if it isn’t what is best for you.
Every resident in the country has access to a GSI offer of some kind. And at MMM DI, we are fortunate to be one of the few agencies that has access to GSI policies for the vast majority (>98%) of residents and fellows nationwide.
I don’t want what happened to me to happen to others. Doctors deserve better. That’s why we created Money Meets Medicine – to provide doctors with financial solutions that you can actually trust. Built by doctors, for doctors.
Dr. Jimmy Turner
Founder of Money Meets Medicine
What the doctors we serve are saying…
“Getting DI here was the best experience! The team is extremely nice and helpful and walk you through every step. It is clear they have your best interest in mind.”
OBGYN Physician / California
“As someone with a pre-existing health condition, I was nervous about starting this process. Michael and his team made sure that everything was seamless and helped me navigate the intricacies of obtaining disability insurance. He answered all of my questions and even took the time to chat with me on the phone, making sure that I had the peace of mind and answers I needed before making a decision.”
Hospice Physician / Texas
“I became a fan of the Money Meets Medicine Podcast and met with several insurance agents before working with Michael and the MMMDI team. I really appreciated his honesty, thoroughness, and education. I’ve recommended him to everyone I know.”
Maternal Fetal Medicine / Maryland
Michael Kittner
President and Chief Insurance Officer
Have questions? Shoot me an email:
Michael@moneymeetsmedicine.com
Hi, I’m Mike… and I’ve been there.
I remember when my wife Sarah, a practicing academic anesthesiologist, was in training how nerve-wracking it was applying for disability insurance.
Why? Because she had already been denied life insurance for a pre-existing health condition.
I didn’t know who to trust. The process was intimidating. And the price?!?! How was I going to afford that price while we were in training?
Yet, I knew that disability insurance is the #1 financial task for doctors. All that knowledge about investing or paying off student loans doesn’t matter if your most important asset – your hard-earned income – is not protected.
This is why our process at Money Meets Medicine is to provide multiple quotes from the Big 5 Insurance Companies that provide own-occupation disability insurance to physicians.
Including quotes that you can afford while in training.
We have been there. We get it. That’s why we built a process built for doctors, by doctors.
Mike Kittner
President and Lead Insurance Agent
Have questions? Shoot me an email:
Michael@moneymeetsmedicine.com
Our Disability Insurance Process
Answer a few questions to get an insurance quote.
Schedule a call to discuss your quotes, and answer any questions.
Pick the best policy for you.
Receive ongoing help whenever you need it.
At Money Meets Medicine, we are one of the only agencies in the country that has access to the Guaranteed Standard Issue (GSI) disability policy for every resident in the country.
Learn More About Physician Disability Insurance:
Frequently Asked Questions
How Can Money Meets Medicine Help Me Get Disability Insurance?
At MMM, we operate as an independent insurance agent who can provide you insurance quotes from all of the Big 5 own-occupation companies. Right now this includes Ameritas, Guardian, Mass Mutual, Principal, and The Standard.
Whether or not you use us for your insurance needs, you will be best protected with a policy from one of the Big 5 companies.
What makes Money Meets Medicine different?
The process we use at MMM was created by Dr. Jimmy Turner who – to this day – cannot get disability insurance because an insurance agent did not do what was best for him.
Since that day, Jimmy decided that what happened to him should never happen to another doctor. This is why we have a zero-tolerance policy for insurance denials caused by any insurance agent at Money Meets Medicine, and why our denial rate is a fraction of other insurance companies in the physician disability insurance space.
Note: This is also why you must disclose everything about your medical history, no matter how small when working with an MMM agent. We take denials very seriously and do everything we can to prevent them.
How does Money Meets Medicine get paid?
This is a great question. As Jimmy always says, “Always ask how someone gets paid if they are helping you with your finances!”
Like any insurance agent in the United States, our agents at MMM get paid by commission. This means that they will help you select the best policy – even when sometimes we get paid nothing – and if that policy provides a commission, we will get paid for the work we did for you, and for any ongoing support you may need after you obtain your insurance.
Are your policies true own-occupation?
Yes. All policies sold by any agent at Money Meets Medicine are true own-occupation policies, regardless of whether it is a Guaranteed Standard Issue (GSI) policy or a Fully-Underwritten policy.
Jimmy often talks about GSI policies. Do you sell these?
Yes! Guaranteed Standard Issue policies are offered exclusively by an independent agent to residents and fellows of specific institutions. Because GSIs do not require medical underwriting, these policies can be godsends for physicians with pre-existing medical conditions.
Unfortunately, we have found that uninformed or financially conflicted agents withhold information about these policies from clients, including those with health conditions.
At MMM DI, we are one of the only agencies in the country that can offer a GSI to 100% of the residents and fellows in the country. Most agents do not have access to it and will, therefore, not tell you about it.
As an agent that puts physician interests ahead of our own, Money Meets Medicine will always assist all physicians in understanding if a GSI policy is available to them. It is all about doing what is right for the doctors we serve.