Disability Insurance

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Disability Insurance for Physicians

Disability Insurance Benefit Amounts

Disability insurance is intended to provide a person with enough replacement income while disabled to maintain a standard of living similar to that which the insured had before becoming disabled, but small enough that one would want to return to work if possible.

Resident physicians are eligible to obtain specific benefit levels based on Special Limit Programs offered by most disability insurance carriers. The benefit levels available to attending physicians will, however, depend on their current earnings. The charts below illustrate benefit amounts available to physicians throughout training and beyond.

Special Limits for New Physicians
Status Maximum Monthly Benefit
Sr. Medical Students $2,500
Medical Residents (All years) $5,000
Fellows $5,000-$7,500
First Year Attending * $6,000-$7,500

* Limits for first year attending are available within 6 months of residency completion and are based on medical specialty.

Benefit Limits for Attending Physicians
Annual Income Monthly Benefit Annual Income Monthly Benefit
$100,000 $5,000 $260,000 $11,800
$120,000 $5,800 $280,000 $12,600
$140,000 $6,700 $300,000 $13,500
$160,000 $7,600 $320,000 $14,300
$180,000 $8,400 $340,000 $14,900
$200,000 $9,200 $360,000 $15,200
$220,000 $10,000 $380,000 $15,600
$240,000 $10,900 $400,000 $16,000

Benefits Of Buying Coverage Young

Better Health

In order to buy disability insurance, every applicant is medically screened and must be healthy enough to qualify. Healthy applicants are more likely to qualify for standard pricing and without requiring limitations or exclusions on pre-existing conditions.

Higher Benefits

Depending on circumstances, the Special Limit Programs available to young physicians could provide larger benefits during and shortly after residency than would otherwise be available, based on earnings alone. This can be particularly advantageous for first year physicians joining a group practice or for those beginning their own practice.

Lower Cost

Obtaining disability insurance at a young age allows you to secure a lower premium for the life of the policy. The difference in premiums between ages 28 and 35 can be as great as 35%. Considering that you will likely maintain this coverage throughout your career, 35% can be a sizeable difference over time.