• Revenue Cycle Management
  • COVID-19
  • Reimbursement
  • Diabetes Awareness Month
  • Risk Management
  • Patient Retention
  • Staffing
  • Medical Economics® 100th Anniversary
  • Coding and documentation
  • Business of Endocrinology
  • Telehealth
  • Physicians Financial News
  • Cybersecurity
  • Cardiovascular Clinical Consult
  • Locum Tenens, brought to you by LocumLife®
  • Weight Management
  • Business of Women's Health
  • Practice Efficiency
  • Finance and Wealth
  • EHRs
  • Remote Patient Monitoring
  • Sponsored Webinars
  • Medical Technology
  • Billing and collections
  • Acute Pain Management
  • Exclusive Content
  • Value-based Care
  • Business of Pediatrics
  • Concierge Medicine 2.0 by Castle Connolly Private Health Partners
  • Practice Growth
  • Concierge Medicine
  • Business of Cardiology
  • Implementing the Topcon Ocular Telehealth Platform
  • Malpractice
  • Influenza
  • Sexual Health
  • Chronic Conditions
  • Technology
  • Legal and Policy
  • Money
  • Opinion
  • Vaccines
  • Practice Management
  • Patient Relations
  • Careers

Q&A: Sometimes two disability policies are better than one

Article

I understand the importance of securing an individual disability policy while still in training, but I recently was told that with my income potential, I should consider securing two policies. Why is that?

Q: I am a fourth-year orthopedic surgery resident with two years of training left. I understand the importance of securing an individual disability policy while still in training, but I recently was told that with my income potential, I should consider securing two policies. Why is that?

A: Securing two individual disability policies while still in training is a unique and new strategy. The main reason to secure a policy during your training years is to protect your future insurability by adding a Future Purchase Option rider. That rider is limited based on the starting policy benefit and/or the maximum amount the company issues. For high-income specialties, the only way to protect the maximum amount of a Future Purchase Option is to do so through two policies.

Related Videos
Mike Bannon - ©CSG Partners
Jolie Apicella, JD
David Zetter gives expert advice
David Zetter gives expert advice
Joel Greenwald, MD, CFP