Medical professionals explore their insurance options to identify common liabilities that could affect them at different stages of their careers. In this quest for adequate coverage, they review disability plans that could provide them with adequate monetary benefits for long-term conditions. A local insurance provides information about Physicians Disability Insurance and how the policies can help these medical professionals.
Monthly Benefits Payments
The monthly benefits payments the doctors receive are based on their current standing in a medical program. The monthly benefits can range between $1,000 and $15,000 depending on whether or not the doctor has completed their internship and their residency. Doctors who are invested fully and have achieved professional status receive the highest benefits.
Payments for Student Loans
Student loans payments for medical school can become astronomical, and the doctors cannot cover these expenses if they are no longer able to work. If a doctor sustains an injury that leads to a permanent disability, they have access to benefits within their disability insurance policy to cover these expenses. The policy pays up to $200,000 in students loans for these disabled medical professionals.
What is Required to Qualify for Coverage?
The policyholders must be either in medical school, participating in a residency program, or a fully-invested medical professional. Residents and doctors must have a valid medical license in the state in which they enrolled into the program. The insurer will not ask any medical questions, and the applicants aren’t required to undergo a medical examination.
Can the Medical Professional Transfer Their Insurance?
Yes, the policyholder can transfer their disability insurance policy at any time that they advance in their medical program. Transfers are also available for residents and doctors when they accept new job positions. The only stipulation is that the new employer must provide a group rate insurance plan for their employees.
Medical professionals assess their insurance needs based on potential risks they will face throughout their careers. These risks could lead to a permanent disability and prevent them from working in the future or supporting themselves financially. Medical professionals who wish to review disability policies contact an insurer now for more information.