Many doctors find it difficult to believe that over 90% of disabilities are caused by illnesses rather than accidental injuries. Doctors operate in high-risk environments like hospitals, primary care centers and private clinics among others where all kinds of folks carrying different kinds of illnesses come for treatment.
Before 2019, even the most ardent advocate of doomsday theory would not have imagined something like the Covid pandemic during their lifetimes. Among the victims were a large number of doctors, many of whom have died after getting infected while many others became disabled and are unable to work. Those who had disability insurance, are at least meeting their basic expenses with the benefit payouts but those who didn’t have it are facing the toughest period of their lives.
Always choose a long term policy
When you decide to go for a doctors disability insurance policy don’t make the mistake of just going for a short-term policy. That’s because a short-term policy will cover you for a maximum period of just 6 months and that is way below the average countrywide duration of disability, which is over 2½ years.
There is something called an ‘elimination period’ which is the time when you apply for a claim and the time when you begin to get the benefits. In a short-term physician’s disability insurance policy, the maximum elimination period is 15 days while in a long-term policy the maximum is 3 months. You can neutralize the 3 month elimination period of a long-term policy if you have a short-term policy as well.
Define your specialization clearly
Another important thing to remember while buying a healthcare professional’s disability insurance is that you should clearly mention your ‘own occupation’ and also define it. This is necessary to avoid being classified as someone who can carry out certain other work that may not be your specialization.
During claim time, there should be no reason for your insurance provider to have any doubts about your disability and your inability to carry out your duties. That explains why you must choose a healthcare professional’s insurance to cover against the risk of disability, with the help and guidance of a reliable insurance broker. Kindly visit gynecomastia surgery for more information.
Choose a trustworthy broker advisor to guide you
Buying an insurance policy is quite different from buying any other product as there are numerous terms and conditions that will determine the benefit you get at claim time. Given your busy schedule as a doctor, you may not have enough time to read through the policy document entirely. That’s why you need the services of a reliable disability insurance broker.
You need to spend some time and effort in selecting the right broker and it is best to start by asking your family and friends to refer any that they may have had good experience with. When you have such a reliable broker guiding you about the best disability insurance services, there is little to worry about as s/he is a professional who values his/her client.
If your broker advises you to buy insurance to cover against disability from a carrier like MGIS, you can rest assured that you have received the right advice. This company has pioneered some of the most innovative solutions that cover against disability.
