So, you’ve heard that disability insurance is important for physicians, and you know you need it. But now what? Where do you even begin? If you’re a busy physician, navigating the world of insurance can feel overwhelming—but don’t worry, we’ve got you covered.
Step 1: Work with an Independent Agent
The first step is to connect with an independent insurance agent—not just a company rep who sells for one insurer. Why? Because an independent agent gives you access to multiple insurance carriers, ensuring you get the best options instead of being locked into just one company’s offerings.
- Independent agents provide multiple quotes, helping you compare coverage across different insurers.
- They work for you, not a single insurance company.
- You get expert guidance on policy features, pricing, and strategies tailored to physicians like you.
At Money Meets Medicine Disability Insurance, we simplify the process so you can make an informed decision quickly and easily.
Step 2: Complete An Intake Form
Once you connect with us, the next step is filling out our intake form. This helps us understand your:
- Specialty and training status (Are you a resident? Fellow? Attending?)
- State of residence (Pricing varies by state, not by agent!)
- Income and financial situation
- Existing employer-provided coverage (if any)
- Pre-existing health conditions (if any)
This step allows us to tailor recommendations specifically to your needs.
Step 3: Review Your Comprehensive Disability Insurance Comparison
After reviewing your intake form, we create a Comprehensive Disability Insurance Comparison, breaking down the best policies available to you. This comparison includes:
- Coverage options from the “Big 5” disability insurers in the medical marketplace. Note: sometimes if a GSI is available, we will only present this option as it makes the safest option to protect your insurability and maximize coverage.
- Pricing (again, pricing is set by state, so The Standard with us is the same price as The Standard with anyone else, if all policy features are the same).
- Key policy features, including True Own-Occupation coverage, residual benefits, increase options, and cost-of-living adjustments.
- Pros and cons of each policy so you can make an informed decision.
Step 4: Get Your Questions Answered on a Phone Call
lInsurance can be complicated, and you probably have questions. That’s why we set up a quick 30-minute phone call to go over your options and answer anything on your mind, including:
- What happens if I switch jobs or move to another state?
- How do riders like partial disability or future increase options work?
- What’s the difference between employer-provided disability insurance and individual policies?
- How much coverage do I actually need based on my current income and future earning potential?
- How do Issue and Participation Limits work?
This is your time to get clarity so you can confidently move forward.
Step 5: Review Your Best Option and Strategy
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After our call, you’ll have a clear understanding of the best policy for your situation. We’ll continue to review and answer your questions about . . .
- The policy that provides the most protection for your career and income.
- Whether a Guaranteed Standard Issue (GSI) option is available for you (training physicians only).
- What’s GSI? It’s a special option for some training programs that allows you to get disability insurance without medical underwriting (meaning no health questions or exams).
- If you have any pre-existing conditions, a GSI policy might be your best option.
- GSI policies often come with pre-set benefit amounts, so we’ll help you determine if this is sufficient for your needs or if additional coverage is necessary.
Once you choose your plan, we’ll help you apply and secure coverage so you can check this off your to-do list!
Ready to Get Started?
Disability insurance doesn’t have to be confusing or stressful. By working with an independent agent, filling out a simple intake form, reviewing your options, and getting expert guidance, you’ll secure the best protection for your career in no time.
Let’s make it easy—reach out today (michael@moneymeetsmedicine.com), and let’s get you covered!
Contact us today to schedule a no-obligation quote, policy review, or consultation. Your career deserves the best protection—let us help you make that happen.
