Disability insurance

[TheSandMan]

Ok, so I'm getting to the end of my residency and figure its about time that I act all responsible and all and get disability insurance. Seems to me that everyone at my program is going with the same person, but no-one seems to have done any real research.
Does anyone have any advice and any particular companies they can recommend.?

Mil, I remember one time you saying that your company does not take into account that you have a motorcycle. Is this still the case? (I'd hate to get rid of my bike, but if it costs to much in disability, I'll have to sell it.)

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[ncdoc1974]

Ok, so I'm getting to the end of my residency and figure its about time that I act all responsible and all and get disability insurance. Seems to me that everyone at my program is going with the same person, but no-one seems to have done any real research.
Does anyone have any advice and any particular companies they can recommend.?

Mil, I remember one time you saying that your company does not take into account that you have a motorcycle. Is this still the case? (I'd hate to get rid of my bike, but if it costs to much in disability, I'll have to sell it.)

You should have a current disability policy through some company from your residency program...If you don't think you do, ask, because you probably do...Then go to that company's local agent and see if you can up your limits on the existing policy as you leave residency. This is what I did and it has worked well...Make sure it is specialty specific for anesthesia and that it has a COLA rider. Otherwise, depending on where you move, it may be difficult if not impossible to get a new policy...Currently very few companies want to draw up new policies for individuals...Also, if you join a private group they may also offer a group disability policy to suppliment your individual policy...Good for getting on this now...If you lead an active lifestyle, it is essential.

 

[militarymd]

You should have a current disability policy through some company from your residency program...If you don't think you do, ask, because you probably do...Then go to that company's local agent and see if you can up your limits on the existing policy as you leave residency. This is what I did and it has worked well...Make sure it is specialty specific for anesthesia and that it has a COLA rider. Otherwise, depending on where you move, it may be difficult if not impossible to get a new policy...Currently very few companies want to draw up new policies for individuals...Also, if you join a private group they may also offer a group disability policy to suppliment your individual policy...Good for getting on this now...If you lead an active lifestyle, it is essential.

that is just not accurate...I just bought a second individual policy...taking my benefits to over 25,000 for total disability..own occ.

and I'm still allowed to ride my motorcycle.....

however, all this insurance is EXPENSIVE.

 

[ncdoc1974]

that is just not accurate...I just bought a second individual policy...taking my benefits to over 25,000 for total disability..own occ.

and I'm still allowed to ride my motorcycle.....

however, all this insurance is EXPENSIVE.

I apologize if I wasn't clear...I am not saying it is absolutely impossible to get any new policy, but it can be very difficult depending on the insurer & location. Continuing an existing policy is much easier...I am guessing you (militarymd) live in the Southeast...I used to live there, but when I moved out west the disability policy game was completely different....I honestly believe they know people out west live more dangerous lifestyles than people back east (as a whole) and new disability policies are harder to come by. Some of my partners have not been able to get new individual policies, and others have paid lots and lots of $$$.