Illness and injury can happen to anyone at any time. As a physician, it is important that you have the proper insurance in place to protect yourself financially in the case that you fall ill or become injured. When searching for the best physician disability insurance, there are a few pitfalls to avoid.
Depending on your occupation classification you may need higher levels of coverage than what some plans may offer. It is important to be aware of your classification and the appropriate level of coverage that will benefit you.
Full vs. Partial Disability
Some policies have strict definitions for full and partial disability, and the amount of benefits offered for each may vary. Make sure that you have a complete understanding of these stipulations and how they may affect you in case of injury or sickness.
Other Disability Policies
If you have other insurance policies in place, review them to see what disability benefits they offer. Though they will not be able to replace a physician disability plan, your other plans may be able to add to it to provide the quality assistance that you need, without breaking the bank.
Being under-insured, not understanding the definitions and stipulations of benefit coverage, and not utilizing the full benefits of other policies are some common pitfalls that insurance seekers face. By staying mindful of these things you can avoid such instances and select the best physician disability insurance for you.