If you’re studying to become a physician, you’ll need to consider purchasing your disability insurance coverage while in training. Depending on the insurance company, residents and fellows are typically able to purchase $3,500 to $5,000 in coverage a month regardless of their earned incomes.
- We’ll help you review the various policies and options available
- As a resident in medical school you can decide which plan fits your budget
- If you buy your disability insurance policy now, you may be able to qualify for lower premiums due to a lower insurance age at the time of purchase
As a Resident, you probably make between $35,000 and $60,000 per year or more. Although you may not be earning what you will in a few years, now is probably the best time to buy disability insurance. You probably have medical school loans, and a perhaps even a home mortgage, and adding extra insurance into the mix may seem like another financial strain. The main reason to consider buying your policy now is that your rates will probably never be lower, because of your age.
Accidents are not the leading cause of disability insurance claims. Medical conditions such as back injuries, cancer, and heart disease cause the majority of long-term disability. In fact, almost one-third of Americans entering the work force today will experience a disability before they retire.
Let us help you find disability information, coverage and rates that fit into your over-all financial plan. Give Jeff Pennington a call at 1-877-221-6198 or use the form on the right to request a quote, get answers to your questions, and find the right policy.