Curbside Consult – April 2018

Physician term insurance and disability insurance are important topics for our audience-- important enough that I decided to have a lingering dialogue about it following our last episode for this Curbside Consult.

We continue the conversation with Larry Keller. This time to answer questions polled by my Facebook groups, Physician Finance and Financial Residency, regarding term, disability, and supplemental insurance for physicians.

Questions answered in this Curbside Consult include:

1. How much term insurance do physicians actually need? 2. What are the age factors for a policy term length? 3. Do supplemental plans transfer with an employer? 4. What are the definitions of disability and what is an expected loss of income as a result? 5. What should I expect from switching policies between employers? 6. What is considered disabled and what would be the resulting payouts? 7. What is an elimination period and how does it affect premiums? 8. Does short-term disability cover a 90-day elimination period? 9. Is it better to obtain disability insurance prior to a pregnancy? 10. What should residents look for in terms of the type of policy they need?

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