Disability Income Insurance For Resident Physicians

You have invested years of your life, hundreds of thousands of dollars on your medical education, and have a potential income stream that could be significant.  That all needs to be protected.

While you may have employer coverage, it’s likely not covering you at an adequate benefit level or offering the own-specialty protection you need.  It’s important to fill in those gaps in coverage with supplemental disability income insurance protection: the AMA-Sponsored Group Disability Income Insurance for Resident Physicians.

Up to $5000 in monthly disability benefits as a resident under 40- regardless of your current salary, debt or existing coverage amounts.  Both employers and insurers tend to base coverage amounts on current salary, even though it’s rarely enough to cover a resident’s living expenses if you become disabled.

All insured physicians receive a 10% rate reduction for at least the first year of coverage. Members of the American Medical Association receive a 35% reduction. Rate reductions are reviewed annually and although not promised or guaranteed, premium credits have lowered the cost of this insurance since 2006. Rates may vary by state of residence.

Repaying education loans can take up a large part of your income.  And if you can’t work again, it could significantly impact your family’s finances.  That’s why this exclusive coverage for residents includes a medical school loan repayment benefit- at no extra cost.  The benefit can pay up to $200,000 to help ease the burden, if you become insured before age 40 and suffer a Permanent covered Total Disability before reaching age 45.

If you’re insured through your employer, chances are you’ll lose your coverage when residency ends.  This coverage can remain with you after the completion of your residency and even if you change jobs or become self-employed.  This is an important consideration, since you’re in the early stages of your career.

As a resident, your schedule can be very demanding and carving out time to address your insurance needs might not be high on your list.  Our Insurance Specialists are here to help make that process easier and to help you select the disability coverage that meets your unique needs.  Our Insurance Specialists are non-commissioned, salaried employees and have no sales quotas to meet.  Their sole purpose is to serve you.