Why Do You Need Premium Disability Insurance?

 

Most group policies only have a two year "own occupation" clause (can't perform as a MD or DO these are typically not specific to your specialty) then you will be required to do "any job for which you are REASONABLY TRAINED, EDUCATED, OR EXPERIENCED TO DO. Keep in mind your education opens you up for 1,000's of jobs like them or not they can close claims based on your education! Other major issues are that they contain "offsets" typically they reduce benefits against the following:

1. Social Security Benefits, your disability contract will reduce dollar for dollar for every one you get from Social Security……did you not pay for both benefits, should you not get both benefits?

2. They will offset against other Group benefits

3. Workman's Compensation plans

4. Lost wages, you if are receiving benefits from say an auto accident then your disability benefits don't have to pay if another persons insurance is paying you.

 
 
 
 
 
ownspecialty.com
with Gary Baird
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  Business Overhead Coverage

This often overlooked protection helps protect partnerships by offering a monthly benefit to pay regular reoccurring bills in the case of a disability.
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with Ryan Poindexter
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ownspecialty.com
ownspecialty.com
  Disability Buyout Coverage

Long-term disabilities can have a major financial impact on practices with multiple partners. Buyout coverage offers financial protection to all affected.
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M.D. Disability Insurance Services is owned by M.D. Financial Services, Inc.