Disability for Residents
Understand the Risks
POTENTIAL EARNING POWER UNTIL AGE 67
Get the Facts
The amount of insurance you purchase originally directly affects how much you can purchase in the future.
- What do you expect your income potential to be once you are contracted as an attending?
- How do you combine the base benefit and the future increase benefit to reach the total monthly benefit that will adequately protect your future income?
- What are you comfortable with in terms of your budget?
- Is there a way you can pay a lower premium now, while still a resident, and pay a higher premium once you are an attending physician?
When you are ready to increase your coverage what will the rates be based upon?
Will the costs be based upon the rates at time of initial purchase or will they be based upon the current rate the company charges at the time the additional coverage is purchased?
Residents and fellow are strongly advised to take advantage of the special allowances insurance companies are offering. These include higher benefit amounts, higher future increased amounts coupled with a more lenient, simplified application process. Once you are an attending physician, this will not always be the case.