Why Medical Residents Purchase Disability Insurance Before Graduation
Jun 16, 2024
Jamie Fleischner

Jamie Fleischner

16 Jun, 2024

It’s graduation season for medical residents and fellows. As most people are aware, this means it is the ideal time to purchase your disability policy.

There are several advantages to buying a disability policy while still in residency:

  • Discounts. Resident discounts vary between 10 and 20%. By purchasing a policy while still in training, you may capture the discount on your initial policy and future policies as well.
  • Ease of underwriting. Many companies will waive the requirement of labs or paramedical exams (blood and urine tests) for medical residents and fellows.
  • Guaranteed Standard Issue policies available. At select hospitals, you may be able to obtain a policy with no medical questions if purchased prior to graduation.

Some companies have extended the deadline for graduating residents to September 30th.

Other considerations:
Graduating residents may purchase up to $7500/month benefit regardless of income or post graduation plans.
Look for an own occupatoin policy that covers you in your medical specialty.
Work with a company like Set for Life Insurance that will shop around to find you the best rates.

For more information, contact Set for Life Insurance today!

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