Why Physiatrist Disability Insurance?
As a physiatrist, chances are excellent that your income is responsible for meeting a substantial portion of your financial obligations. Protecting your ability to pay your bills is an excellent reason to consider physiatrist disability insurance. Not sure what this insurance offers, or why you might need it? Let’s explore it a bit.
What Is Physiatrist Disability Insurance?
As a physiatrist, you probably earn between $82,000 and $263,000 per year. That income is responsible for allowing you to pay for your home, your cars, your school loans, and probably your children’s education, too. What happens if you’re out of work and unable to earn that income, though?
This is where physiatrist disability insurance comes into play. Disability insurance is designed to activate when you have been out of work for a specific amount of time and provides you with a supplemental stream of income to replace the one you’ve lost due to injury or illness. In short, disability insurance is a lifeline – a safety solution that ensures that no matter what other crises you might face, you do not have to worry about being unable to meet your financial obligations.
Other Insurance Doesn’t Protect You
Many people assume they have some form of disability insurance through another policy – their health insurance, for instance. Sadly, that’s not the case. There’s also the fact that you cannot count on worker’s compensation insurance, as most disabilities are incurred outside the workplace.
Where does this leave you? Without some sort of protection, you could find yourself faced with draining your savings and retirement accounts and then still struggling to pay your bills. We can help here. We work with top-rated insurance companies across the nation that offer a wide range of physiatrist disability insurance products. We can help you make sense of your options, compare rates, and find the right insurance provider for your specific needs.
How Does Disability Protection Work?
Disability insurance provides you with a source of income if you find yourself unable to work for a certain period of time. Your insurer release payments to you based on your average annual salary, money you can use to support yours and your family’s needs.
It’s important to compare phyaiatrist disability insurance policies to be able to choose the right insurer. Each policy is unique, and you need to make a comparison of the coverage offered by different insurers, as well as the options available, and other factors before signing on the dotted line.
What Can We Help You Do?
When you turn to us for help with your physiatrist disability insurance, we go to work for you immediately. We have years of experience in this area, so we can quickly help you find the coverage you need. By working with us, you can:
- Be able to review rates from some of the leading providers of individual disability insurance.
- Get quotes from all major insurers in the US that currently offer insurance products in your specific geographic area.
- Learn more about your options when it comes to disability insurance and how it can benefit you in the event that you’re injured and unable to work.
Choosing Your Physiatrist Disability Insurance
Finding the right insurance provider can be difficult. This is particularly true if you have never bought disability insurance before. You need to make an informed decision regarding the policy and coverage terms available to you, but how do you do that? We can help.
In our many years in business, we’ve helped countless medical professionals find the peace of mind they deserve through a perfectly matched disability insurance policy. We work with insurance companies that you know and trust and provide you with expert guidance throughout every step of the process.
How Your Work Impacts Your Disability Insurance Rates
Insurance companies group occupations into specific classes based on documented risk for a particular job. These classes look at the hazards of your job and the difficulty returning to work following a long or short-term disability.
Insurance companies typically classify professional occupations on a scale of 1 to 6 and many use the letter M to designate medical professions. Typically, the higher the numerical value of the classification, the lower the premium rate will be.
When you review disability insurance policies, it’s important to understand what medical specialty you are being classified as. The difference in rates can be substantial between, so it’s important to be classified in the correct category.
The Risk Of Injuries
Think that you’re not at risk of being injured and unable to work because you’re not in a high-risk industry for injuries? That’s not the case. In fact, you’ll find that back injuries, cancer, heart disease, and other illnesses are actually responsible for most long-term disability cases in both men and women.
Moreover, if you’re near the age of 40, there’s a one in five chance (or around 21%) that you’ll sustain a disability that lasts three weeks or longer before you reach the age of 65. That’s a frightening fact to gamble your finances on, but disability insurance can help you mitigate this risk.
Buy a Disability Insurance Policy While You’re Young
Disability insurance policies are priced based on the risk of you becoming injured and filing an insurance claim. The higher your risk for filing a claim, the more you’ll pay in premiums, and one of the main factors that determine if you will be marked as a higher risk person is your age.
Statistics show that the older you are the more likely you to become disabled, so getting your disability insurance today means that you will pay less in premiums and be protected for longer in your lifetime. Each year you age is more money you’ll be paying out each month or year in premiums.
Ready to find your custom-made disability insurance policy? We invite you to contact us today at 1-877-221-6198 to learn more or use the form on this page to get in touch.