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disabilityincomepro.com
Disability Insurance for Surgeon
In a market which has begun to steer away from many in your profession, we can provide you with quality disability income insurance you can feel safe and comfortable with in times of sickness or injury. Disability income insurance provides you with the necessary income needed to sustain your practice, and family's well being, by insuring up to 60% of your income in the event of a disability.
When determining which disability contract is the right one, physicians, and particularly surgeons, should immediately ask one question. "Will my disability insurance policy be true own-occupation?"
For individuals in your line of work, the difference between having an own-occupation definition of total disability, and not could mean everything. It could mean the difference between struggling for many years after a sickness or injury, and maintaining a financially stable environment for your family. Berkshire is one of only a few companies left which still caters to surgeons and offers a true own-occupation definition of total disability for the first five years in a claim, with modified own-occupation benefits thereafter. Own-occupation in its simplest terms means that you will be considered totally disabled if you are unable to perform the material and substantial duties of your occupation, even if you are at work in some other capacity for the first five years of a claim. After five years in a specific claim, the definition of total disability changes to a modified own-occ contract. We cannot force you to go back to work in another occupation, but if you choose to do so the claim may very well become residual in nature. While this definition is important to many of our clients, own-occupation makes the largest impact among surgeons and others in the medical community. Berkshire's disability insurance contract states, "If your occupation is limited to a single medical specialty certified by the American Board of Medical Specialties we will deem your specialty to be your occupation."
Insuring a Surgeon's Income with Disability Insurance
A surgeon can have quite a bit of trouble attempting to insure his or her income for an amount even close to 60%. The disability insurance industry has capped the amount of individual disability insurance they will offer any surgeon at $10,000 a month. In fact, one major disability insurance company just reduced their maximum offer to $7,500 a month. Berkshire has a unique program available to help surgeons obtain disability insurance over $10,000 a month. Berkshire will issue $10,000 a month of individual disability insurance, and will also issue a second disability insurance policy of up to $3,380 a month to protect retirement contributions in the event of a disability. While the combined monthly benefit of $13,380 tax-free may not be 60% of your current adjusted gross income, it is a bit more than the $10,000 a month you are currently capped with elsewhere. Make sure you request a Retirement Protection Plus program quote in the disability insurance quote request form.
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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