In retrospect, do you think you bought an appropriately sized policy? Do you wish you'd bought a bigger one or a smaller one? Kelly: "I actually thinki had sort of a perfect amount. I'm really glad that i increased my policy when i came out of residency" Emily: "Youd never think this will happen to you, but you need to plan your life like it might"
Two doctors who became disabled relatively early in their careers and had to learn to navigate the disability insurance world, while dealing with very difficult circumstances, join our podcast in this episode. We are happy that Dr. Kelli Sekulovich and Dr. Shakila Angadi were willing to share their experience and to help educate on the importance of disability insurance.
You are running a risk all the time. One of the crazy things about a medical career, and other high-income professionals are very similar in this respect, is that you have spent a great deal of your life learning a valuable set of skills. That's partly why you're paid so highly. It doesn't take much to keep you from being able to convert those skills, that education, that knowledge into income. If you lose that ability, it's pretty bad. It is so important that we all have the right amount of disability insurance.
Getting quality disability and life insurance should be the first financial chore for a doctor to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status and 1 in 7 doctors get disabled at some point during their career. Because these policies can only be purchased through brokers, we have put together a list of vetted agents who are experienced with working with the specific needs of medical professionals and who have your best interest at heart. If you have questions about insurance and what kind of policies would be the best fit for you, check out our insurance recommended list at https://www.whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place. You can do this and The White Coat Investor can help.
The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!
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