Disability Insurance Research Paper

If you've stumbled upon this article, then you likely have set off to learn more about Physician Disability insurance for medical residents. Undoubtedly, you have either been approached by an agent, advised by a superior or spoken with peers about this type of coverage. Likely you already know that the best time to purchase a policy is when you are young and healthy - but what is the true benefit for residents and fellows in purchasing Disability insurance during fellowship or residency?

The primary reason to consider purchasing Disability insurance during medical residency is pertaining to the idea that during this time, you are young and likely very healthy. This is an interesting concept however, because all 25-30 year olds are certainly still young, and more importantly feel that their health will remain the same for years. So although you know you should consider protecting your income now, it becomes very easy to procrastinate and hold off on purchasing coverage for weeks, months and years.

The factor of age is simple - every year you delay purchasing Disability insurance will cost you about a 4% increase in premiums. In other words, the cost of coverage will increase by about 3-4% each year you wait. If a Disability policy will cost $1,000 per year today, in three years your …show more content…
Read articles that can be found online, but do not solely base your judgment on these. The value of reading articles and websites is to learn about the differences that exist in the various contracts available today. There are many websites providing additional resources and information about Disability insurance for medical residents and young physicians. Take advantage of the resources available over the web, find an experienced agent and work with them to find the best option for