5 Mistakes Doctors Make with Disability Insurance 

Before we start to talk about what we get wrong with disability insurance, I should tell you that I personally do not carry disability insurance. It’s true. If I were no longer able to perform my duties as an anesthesiologist, I would no longer earn a paycheck.

Busy doctors can get so stressed by how time-consuming and complicated researching disability insurance can be that they end up going with the wrong policy or forgoing disability insurance altogether.

#1 Thinking they don’t need disability insurance

Many doctors, especially young doctors, think that they’ll never become disabled. Studies show, however, that doctors have a 20-30% chance of being disabled over the course of their careers, a much higher chance than those in other white-collar professions.

#2 Believing all disability insurance is the same

One of the reasons why researching disability can feel overwhelming is that it’s difficult to understand the policies and their specific language.

#3 Thinking employer coverage is enough

Disability insurance through your employer is just not enough on its own!  Most doctors don’t realize this but their employer’s coverage is not true own-occupation coverage and the benefit is most often taxed before you ever receive it.

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