2nd Apr

2018

Unique Income Protection Strategies Offered to Medical Residents and Fellows

On March 16th of 2018, each of the graduate medical schools in the United States participated in Match Day. Thousands of individuals seeking residency or fellowship training learned where they have been contracted for their program. Residents and fellows understand their financial planning needs will continue to grow as their careers progress. We offer assistance by designing unique income protection strategies for medical residents and fellows.

By partnering with leading insurance carriers, we offer income protection plans with the contract features residents and fellows must consider. These plans are highlighted by a specialty definition of disability to protect a physician’s unique skills, the guaranteed right to purchase additional insurance without having to prove medical insurability, long term residual benefits, cost of living increases which mitigates the erosion of buying power due to inflation, and more!

In addition, we are experts in the design of combination plans utilizing multiple carriers to enhance these benefits and providing a pool of benefits which can protect a physician throughout their entire career.

A young physician’s greatest challenge is also one of the most important factors when it comes to implementing an income protection plan, time. Many of these programs provide a streamlined underwriting process with no medical testing and no limitations or extra premium costs due to current or prior medical history.

It is not difficult for young residents and fellows to contemplate being faced with an injury or illness severe enough that it changes the course of the career they are working so hard to establish. Virtually every physician will purchase income protection insurance and it is essential that an advisor serving this marketplace partners with expert consultants to design and implement these plans.

For more information regarding income protection planning for physicians, contact us for more details by using the form here.

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