Accidents, illnesses, and other unforeseeable events can happen at any time and when they do, your livelihood is at stake. With a good long term disability insurance for physicians policy, you will not have to dip into your hard-earned savings to cover any expenses that you have while you are waiting to return to work. Here are three good reasons why every physician should have a good disability policy.
An overwhelming amount of accidents and illnesses are not work related so that drastically reduces the possibility of workers compensation paying out in the event of an unexpected illness or accident in your profession.
Unless you are severely disabled and unable to return to work for at least a year, your chances of being approved for social security are virtually nonexistent. Also, social security requires you to be unable to perform any type of job, not just your chosen line of work.
All of your living expenses, medical bills, and other financial obligations will add up very fast when you are unable to practice and generate income. Even though you may have a substantial amount of money stashed away in your savings account, what financial security do you have once your savings runs out? Remember, if you are sick or disabled, you are not making any money to replace what is being spent.
Stop assuming what won’t happen to you and plan for your future now to protect you and your family from all of the stress and financial hardships that often come with being disabled. Protect your future and quality of life with a long term disability insurance for physicians policy.