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disabilityincomepro.com
Disability Insurance for Cardiologists
As a physician you should always make sure that all of your coverage has the longest own-occupation period available. With Berkshire Life Insurance Company of America a cardiologist who primarily performs non-invasive medicine, can obtain own-occupation benefits to age 65, or even a graded lifetime benefit period. An invasive cardiologist can obtain a benefit period to age 65, as well as the graded lifetime benefit period, however only the first five years in each claim is a pure own-occupation benefit. After five years in the same claim for invasive cardiologists, it becomes a modified own-occupation benefit. The reason there are two different definitions of total disability has to do with occupational classes.
Every physician is placed into three possible occupational classes (4, 4P, and 3), however most of them are actually in class 4P, or 3. The Provider Plus disability insurance policy is one of the best contracts a doctor can own in today's marketplace. You should take the time to compare it's definition of total disability to any other policy you are reviewing.
As a cardiologist you have quite a few liabilities, and it seems like all you do is pay insurance premiums. Your continued ability to earn an income in your medical specialty may be your most important asset, so take the time to make sure you don't buy a cheap disability insurance policy. You make a nice income, protect it with the most comprehensive level of coverage you possibly can. Insurance carriers limit a physician's individual level of coverage to $10,000 a month, since this most likely does not allow you to maintain your current standard of living, why would you go with a cheap contract when you know it is only $10,000 a month in benefits. You can review Berkshire's competitive advantages in the Provider Plus Brochure.
Our agency can show you ways to obtain individual disability insurance coverage over $10,000 a month if your income is above $280,000 a year. While you can request a quote from our website and have it emailed to you within a couple hours, if you call us a disability insurance specialist can provide you with a quote and information immediately.
If you own the practice, or are in a partnership, there are several other key areas which should be addressed in the event of a disability. If you are disabled, are you still responsible for your share of the practice overhead? If you say no, do your partners and employees know this as well? If you are permanently disabled, who will purchase your share of the business, and where will the funds come from? The bottom line is as a business owner there is not just one income to be concerned with, you have to worry about everybody's income in your practice from partners to employees. Our specialists can help you to address these issues, and find an affordable solution for you.
Feel free to contact one of our disability insurance specialists. We can help you find answers about every major insurance company's disability insurance contract.
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W-2 Employees |
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