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What Disability Insurance Company Is Best For Physicians?

What Disability Insurance Company Is Best For Physicians?

May 10, 2022

With any long-lasting purchase, you’re going to want to shop around for the best quality at the best price. Your disability insurance policy should be no different. Your income is one of your biggest assets and as a physician, it needs to be protected in a particular way. 

This post will go over The Big 6 disability insurance companies and how to choose a disability insurance policy that protects you in the medical specialty you’ve spent so much time on. 

The Big 6

A quick Google search will show you a number of disability insurance carriers to choose from, but The Big 6 are the only providers who offer true own-occupation disability insurance coverage. 

True own-occupation coverage is essential for physicians because it means you still get your disability insurance payments, even if working in another specialty. This is an essential aspect of physician disability insurance because you are able to teach, consult, or work in a different specialty if you become unable to continue in yours. 

The Big 6 disability insurance companies include: Amertias, Principal, Standard, Guardian, Mass Mutual, and Ohio National. 

These companies offer a true own-occupation definition of disability. Offerings and coverage across these companies can differ slightly, so you need to know what to look for when comparing your disability insurance quotes.

Reviewing Your Quote

If you are working with an independent insurance agent, they will be able to provide you with a disability insurance comparison quote. Below is an example of a monthly premium quote that compares $7,500 in monthly coverage for a 32 year old male emergency medicine physician across three insurance carriers. 

*This comparison quote is for illustrative purposes only. Actual coverage and premium amounts are determined on an individual basis.

As you can see, coverage terminology and benefits varies across carriers and depending on which options and riders your choose. To better understand these options, check out our disability insurance FAQ

Cost of a disability insurance policy is dependent on a few factors. Your gender, age, and medical specialty play a role in how much you will pay. It’s always less expensive the younger you are, so it’s important for physicians to secure coverage early in their career. Other factors that influence cost are coverage amount, riders included, and discounts available. 

After providing you a comparison quote, your independent insurance agent should be able to answer questions and explain to you the pros and cons of each carrier to help inform your decisions.

Comparing disability insurance quotes is the best way to pinpoint which carrier is going to be the most effective for your specific situation. 

Disability Insurance for Physicians

May is Disability Insurance Awareness Month and there is no better time to learn more about the policies that are available to you. If you are ready to talk about disability insurance with a reputable, independent agent, we’ve got you covered. We offer own-occupation policies with high limits to protect more of your hard-earned income. We are also endorsed by the Medical Society of Virginia to provide up to 20% discounted products to its members. Get your quotes today, or reach out with questions or for a no-cost review of your current policy.

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