Your ability to earn an income is often your most valuable financial asset. Disability insurance helps protect that income if illness or injury prevents you from working.
Individual disability insurance can provide monthly income replacement, helping you maintain your financial stability and continue meeting personal and family obligations during a period of disability.
As an independent advisor, Lynn Johnson works with multiple leading insurance carriers to help professionals, physicians, and individuals find coverage that fits their career and financial goals.
When reviewing disability insurance policies, several provisions can significantly affect the strength of your coverage.
Benefits are payable if you cannot perform the duties of your specific specialty.
Your policy cannot be cancelled and premiums cannot be increased as long as premiums are paid on time.
Benefits proportional to income loss due to injury or sickness.
Allows you to increase your coverage as income grows without additional medical underwriting, only financial qualification.
Benefits increase over time to help offset inflation during a long-term disability.
Optional protection that can help cover student loan payments if you become disabled.
Discounted gender neutral/unisex rates provide significant savings and especially valuable for the female population.
Own-occupation disability insurance defines disability based on your ability to perform the duties of your specific specialty.
If an illness or injury prevents you from performing the essential duties of your specialty, the policy can pay benefits even if you are able to work in another specialty or field.
Why Individual Disability Insurance Matters
Group plans may have weaker definitions of disability, may be taxable if employer-paid, and typically are not portable if you change employers.
Many employers offer group disability coverage, but these plans often provide limited protection.
Group plans may have weaker definitions of disability, may be taxable if employer-paid, and typically do not stay with you if you change jobs.
An individual policy is coverage you own. It can be tailored to your profession and remain in place throughout your career.
Schedule a no-obligation consultation to review your coverage options and get a personalized recommendation.
You may be eligible for a Guaranteed Issue disability insurance program designed specifically for physicians in training.
