Disability Insurance for High Income Physicians
Jul 25, 2014
Jamie Fleischner

Jamie Fleischner

25 Jul, 2014

Physicians may purchase up to $25,000/month of individual disability insurance. This is available when combining insurance from more than one company. The maximum amount available from any one company is between $15,000 and $17,000/month (depending on the company).

To obtain $25,000/month benefit, you need to be earning in the $700k to $800k range.

If you are earning more than $800k and need more than $25,000/month benefit, you may purchase excess coverage. This coverage typically will cover you for 5 years and requires you to reapply every 5 years. The policies will still cover you in your medical specialty and require the same type of medical underwriting.  Companies will now offer up to $150,000/month of additional disability insurance benefit.

For more information about disability insurance for high income physicians or to request a quote, contact Set for Life Insurance today!

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Getting the right disability insurance can be downright confusing. At Set For Life, we’ll help you understand the options and work with you to select just the right product for you and your family. These articles will help you understand some of the complexities involved, but we’re happy to walk you through it! If you’re ready to get set, reach out for a quote today!