Protecting Your Future Income with “Own-Occupation Specialty Specific” Disability Insurance
As a Physician or Dentist, you have invested an immense amount of time and resources to acquire very unique skill set. Given the impact you have on your patients' lives and how difficult the journey is to get to where you are, one of the rewards is the ability to generate a significant income and lifestyle. In the event you were to experience an illness or injury that resulted in your inability to perform the specific job duties or your specialty, a comprehensive disability insurance policy would protect your income and lifestyle.
Disability insurance can vary significantly from one company to the next. Disability income insurance is a specialty product requiring an expertise beyond what the typical insurance professional has. When you acquire a policy you are engaging in a unilateral contract with the insurance company, and the words in the contract/policy are everything should you need to file a claim. The epicenter of a policy is the policy’s basic definition of Total Disability.
Your policy should specify in writing that you are covered in these areas:
- Specific to your specialty
- Can be employed in another career