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Disability Insurance

Discussion in 'Military Medicine' started by Sgt Whizzo, May 9, 2007.

  1. Sgt Whizzo

    Sgt Whizzo Male Member

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    Does anyone have recommendations on a disability insurance carrier/policy appropriate for military physicians?
     
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  3. gastrodoc

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    There's a military program, T-SGLI which pays you a fixed rate for particular injuries, 100k for amputation or loss of eyesight, 25k for not being able to do ADL's for over 30 days. You're auto signed up when you come into theatre.
    Getting civilian disability is harder and probably not worth the money if you could find someone to write a policy, since most policies will replace 50% of wages, and the military, if you're medically retired will cover more than that (there's an offset in most policies). The real bummer if that if you're in a specialty where you'd be making 3-8x what your making in the military as a civilain, there's no way to cover yourself for the lost potential if your hurt while deployed.
     
  4. alpha62

    alpha62 Banned
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    read the fine print.

    most don't pay injury or loss caused by acts of war.
     
  5. Jet915

    Jet915 Shi*ter's Rule

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    I'm considering doing a civilian disability plan but they said they won't pay for injuries due to "acts of war." I figured I'd underwrite it right now while I'm healthy and can get it after I'm out of the military. I'm just trying to decide if I want the coverage while I'm in the military cause they said that the disability payments would be on top of what I get from the military (which is just the base pay right?). Any advice appreciated.
     
  6. West Side

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    Disability doesn't work like term life, you don't get "tenure" discounts for having had a policy for an extended period of time as you age, as you generally have to renew every year.

    That said, something like 1/3 of Americans will experience extended time off due to a disability. Obviously, not 1/3 of Americans were injured in theater. You could be one car accident away from being in the tank financially, and for a relatively inexpensive piece of insurance.

    Just think more globally than the act of war exclusions. It's a lot more common than I would have thought, but even thinking anecdotally, you can come up with a lot of cases of disability.
     
  7. alpha62

    alpha62 Banned
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    you're in the reserves and you get disabled on deployment or you get deployed for 18 months w/o a scratch and you come back and you're broke, your practice is closed and your partner is boinking your wife.

    What they really need to come up with is deployment insurance.
     
  8. The White Coat Investor

    The White Coat Investor AKA ActiveDutyMD
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    I bought a policy as a civilian resident and still carry it. It does exclude acts of war. Other than that I only carry what the government offers (basically the same VA benefits as GI Joe 18 year old E-1 Marine.) I attempted to get additional insurance from private companies but was told I basically couldn't get any more until I got out of the service. :( I feel very underinsured and feel this is another significant downside of being a military doctor.
     
  9. a1qwerty55

    a1qwerty55 Attending

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    Ok was thinking about taking out a disability insurance policy, but then I read the fine print (AMA's disability policy), basically, my interpretation confirmed my others is that even if you insure yourself lets say for 5K/month in replacement income (assuming you get something from the military), you don't necessarily get this... Apparently to avoid disability fraud the US governement limts the amout of disability income you can earn to something less that our income.. The problem is that your military disability counts against that amount, so you potentially could be paying for a big policy but then find that the company cannot pay out.

    Now I may be totally wrong here, but I would ask really hard questions and really focus on the fine print.

    I've opted for a really aggressive living will, :laugh: i.e. kill me I get disabled as the family does better with my life insurance over having a gomed out dad.
     
  10. alpha62

    alpha62 Banned
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    My plan was to keep a grenade in my pocket and pull the pin if I were captured or wounded seriously enough. I was only praying I would have had the guts to pull it off or still had enough limbs left to do it when the time came.
     
  11. Jet915

    Jet915 Shi*ter's Rule

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    So you carry a civilian policy on top of the military one? Did they tell you they'd pay you benefits on top of what the military was giving you if you became disabled? My policy is 50 bucks a month and it would pay out a maximum of 50k a year ON TOP of my military benefits. Anyone else have an opinion on this? Thanks.
     

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