TYKF

Highly paid professionals like physicians, dentists and attorneys spend a lot of money and time on their education, training and taking the various qualifying examinations. Building their client base takes a long time.  Their income depends  to a large extent on their ability to offer a particular service and any illness or disability can adversely affect their income. By selecting a suitable disability insurance policy these professionals can protect their income over a period of time.

Most professionals suffer from some kind of disability at some time during their career and if they have selected a disability insurance policy correctly, they can reduce the impact of the disability on their lifestyles. While reviewing the disability insurance quotes from the various insurance companies, they should ensure that it includes an “own occupation” definition, is non cancellable and provides residual coverage till the income is restored to earlier levels.

Physician disability insurance policies are tailored to meet the needs of doctors who often spend hundreds of dollars annually to complete their education. Since patients will consult another doctor for their illness, if their regular doctor is unavailable, the policy should include a residual income clause. Many insurance companies offer special packages for medical residents and  doctors who meet their physical fitness criteria.