In this discussion, Ben Glass, a long-term disability attorney known for assisting medical professionals, shares crucial insights on disability claims. He highlights what constitutes a strong claim and explains when it's vital to involve an attorney. Ben identifies common mistakes docs make during the claims process and emphasizes the need for a solid understanding of policy specifics. He also addresses the importance of securing individual disability insurance while young to ensure financial stability later in life.
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insights INSIGHT
Doctors Prefer Individual Policies
Most doctors buy individual disability policies with good coverage due to the complex nature of their work.
Group policies are less comprehensive but commonly provided by employers, causing confusion about coverage adequacy.
volunteer_activism ADVICE
Buy Insurance Early with Own Occupation
Buy individual disability insurance when young and healthy for the best rates and coverage.
Choose policies with "own occupation" definitions to protect your specific job abilities.
volunteer_activism ADVICE
Prepare Strong Claims Carefully
Provide insurers with detailed job descriptions, objective medical evidence, and clear financial records.
Prepare your claim to be straightforward and supported to make approval easier.
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Today we are talking with Ben Glass, an attorney on our recommended list who helps docs make successful disability claims. Ben talks about what makes for a strong claim, when you might need to get an attorney involved, what mistakes he has seen docs make in the claims process and what he wishes docs knew if they think they might be facing a disability event. Disability Insurance is so important and we hope this episode helps you understand why.
The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!
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