Were you to lose even a small degree of your finger dexterity...lose your ability to communicate clearly and explicitly...or suffer some other relevant disability, it could be difficult or impossible for you to continue practicing.
And if surgery is your major or only source of income, your financial situation would be quickly, significantly and negatively affected. So Question #1 is: Do you currently have enough disability insurance? And Question #2 is: Do you have the right kind of disability insurance?
Only an unbiased disability insurance expert—like those at eDisability—can answer these questions for you. They can help you find the right policy with the right coverage. But before you contact an eDisability expert online (free and without any obligation whatsoever), you should find out which of the following mistakes regarding disability insurance you're making—because you're probably making at least one of them...or perhaps even two or three!
Mistake #1: "I can put it off until later."
The Fact Is: If you need more disability insurance than you now have, or want better coverage, "later" may be too late and/or more costly. The older you get and the larger the benefit, the higher the premium, as with life insurance. Eligibility requirements for disability insurance are far more strict than for life insurance, because the amount of risk is unknown. If you're a high-income surgeon and become totally disabled, to compensate you for total loss of income the insurer may have to pay out hundreds of thousands of dollars annually—year after year, for decades to come—if you have coverage that lasts that long.
So don't simply assume you'll be accepted for disability insurance later on, whenever you get around to it. If your health condition is less than perfect—and it's the insurer who defines perfection—you may not be eligible, due to a health issue that may seem trivial to you, but not to an insurer.
And if you keep putting off getting disability coverage, and you suffer a disability, what will you do for income? Procrastination can be extremely costly! The experts at eDisability can save you a tremendous amount of time, effort and money, by helping you select the right kind and amount of disability insurance at the lowest price.
Mistake #2: "I'll save money by getting a group plan."
The Fact Is: A group plan may be better than no plan at all—for a while—but it can give you a false sense of security. Especially if you don't take the time to read the fine print. Yes, the premiums may be attractively low—initially. But if they're not guaranteed to stay that way, you can expect regular increases. Even worse, most group plans cover only total disability, and most pay benefits for only the first two years. After that, no benefits! If your disability is not total, and you're able to perform some kind of work —even just lecturing or telemarketing—you may not receive any benefits at all!
Mistake #3: "All disability insurance is pretty much the same."
The Fact Is: Coverage, benefits, limits, options (riders), eligibility—even the definition of what a disability is—can vary tremendously. The higher your income as a surgeon, the more you need to check out all that fine print. You can't simply compare policies by looking at the benefit amounts offered and the premium for each. It's much more complicated than that.
Once you decide on an insurance company (is it highly rated?) and a specific type and amount of coverage, the application process (some forms are 77 pages long!) can weeks or even months.
But now there's eDisability, with agents, advisors and a state-of-the-art software system to create individual disability coverage customized for you—quickly, easily and at no extra charge. Since eDisability.com is not a captive agent of any insurance company, you'll receive unbiased advice no matter how little or how much protection you want. And you can get started in just minutes!
Mistake #4: "I can get disability insurance from my regular agent."
The Fact Is: Your regular agent is not likely to know exactly what kind of disability insurance a surgeon should have, how much coverage you need, which carriers offer the best policies, which riders you should look for and which ones you probably don't need, which health conditions and lifestyles are red flags, etc.
You can't expect the typical insurance agent—who offers coverage on your life, your home and your car—to be an expert on disability coverage, too. It's really a specialized field, since there are so many current and potential variables to consider, and so many exclusions and misconceptions to watch out for. If your regular agent represents only one insurance company—no matter how reputable it may be—you won't get the unbiased advice and the much wider selection of coverage you'll get via eDisability.
Mistake #5: "I'll just get the cheapest disability insurance I can find."
The Fact Is: That's no way to select disability insurance, just as it's no way to select a surgeon. If you do find a much lower rate, you'd need to ask: "Why is this insurance so cheap?" Perhaps it's because their coverage and benefits are severely limited, and are not suitable for high-income (now or later) surgeons. It may be because they offer only one "take-it-or-leave-it" group plan—not an individual policy—with no optional provisions available. It may even be because they'll do everything they possibly can, legally or not, to delay or deny paying legitimate claims!
At eDisability, you'll have disability insurance experts representing you, not an insurance company, as they work to find you the exact coverage you want —from top-rated insurers only—at the lowest possible rate. After all, what good is a cheap rate if you can't collect any or all of the benefits you're entitled to, should you become disabled?
Shopping for Disability Insurance?
Let us help you save time and money while helping you find the coverage you need. You don’t have to become a disability expert yourself in order to get a good plan. Our unbiased advisors can provide you with answers and support every step of the way.
Request a quote now. It is free and there is no obligation.
