Disability Insurance for Dual-Physician Households

Key Points:

– Dual-physician households face unique challenges when it comes to disability insurance coverage.
– Disability insurance is crucial for physicians as it protects their income in the event of an illness or injury.
– Factors to consider when choosing disability insurance include waiting periods, benefit periods, coverage amounts, and policy riders.
– It is important for both physicians in a dual-physician household to have their own individual disability insurance policies.
– Special attention should be given to coordination of benefits and policy language to ensure coverage is optimized.
– Working with an experienced insurance advisor can help navigate the complexities of disability insurance and tailor coverage to individual needs.

PFF Hot Take:

Having disability insurance is essential for all physicians, and even more so for dual-physician households. The unique challenges they face require careful consideration when selecting policies. By ensuring that both physicians have their own individual coverage, coordinating benefits, and reviewing policy language, dual-physician households can optimize their disability insurance protection. Working with an experienced insurance advisor can provide the guidance needed to make informed decisions and secure the necessary coverage to protect their financial well-being.

Original article: https://www.physicianonfire.com/disability-insurance-couples/