Reviewing Different Types Of Physicians Disability Insurance

Medical professionals at each level of their career are at risk of developing a disability due to job-related stress, repetitive motion, and unexpected risks. For this reason, the doctors must mitigate risks by purchasing the right disability coverage. A local insurance agency could provide Physicians Disability Insurance for these doctors.

Disability Coverage for Fully-Invested Doctors

Fully-invested doctors who have completed all their medical school requirements receive disability insurance benefits at a maximum of $15,000 each month. These policies provide additional benefits for any catastrophic injuries sustained by the doctor while performing their medical services. For these injuries, the policies pay for costs associated with admission into a nursing home or long-term care facility.

Disability Opportunities for Residents and New Doctors

All medical residents and newly-licensed doctors receive disability benefits based on their specialty. These plans include the physician-exclusive options that apply more specifically to their specialties. The doctors receive a maximum of $5,000 each month for the full duration of their recovery. If they were under forty-five at the time of their injury, the doctors receive a maximum of $200,000 in student loan payments toward their medical education.

The benefits are available to residents who are younger than forty when their policy started. Any doctor who transfers to another employer has the right to take their disability insurance coverage with them. However, their employer must provide group rate health coverage for their workers.

Disability Plans for Medical Students and Interns

All medical students and interns receive a maximum of $1,000 each month with a maximum of $12,000 within one year. All benefits are provided to the doctor individually, and the plans don’t require receipts and/or a full account of how the money was used by the student. The stipulations of obtaining the disability insurance policy are that the student must be enrolled in a medical school program on a full-time basis.

Medical professionals purchase disability insurance to secure their financial future if they were to become disabled. The policies provide different coverage values based on the type of injuries, the doctor’s specialty, and their age. Doctors who want to learn more about these plans contact their preferred insurance provider now.