"TRUE" Own Occupation Disability
Own Occupation Disability Insurance (Specialty Specific or Regular Occupation) provides a definition of “Total Disability” in which you are eligible to receive your “full” benefit if a sickness or injury prevents you from working in your “Regular Occupation.” You will still be considered “Totally Disabled” and eligible to receive your “full” benefit even if you elect to work in another occupation, regardless of the income you earn.
Normally, in order to purchase any amount of Own Specialty Disability Insurance, you would need to complete an in-person medical exam. As a result of the COVID-19 quarantine and social distancing restrictions, Certain Own Specialty Insurance Carriers are now allowing you to temporarily purchase an Own Specialty Disability Insurance without the need for a medical exam.
Hospital Affiliation Discount
Protect your most valuable asset (Your Income) during Open Enrollment and save up to 50% a year through your hospital affiliation.
Disability insurance for physicians provided through carriers and affiliation like the AMA, ACOG, ACP, AAP, Northwestern Mutual, and your employer-sponsored long term disability plan are not considered to be “TRUE” Own Specialty Disability Insurance because your ability to work outside of your medical specialty while collecting your full disability benefit is limited by the income you earn from “any” gainful employment.
Employer-Sponsored Long Term Disability Insurance Isn't Good Enough
Employer-paid Group Disability is taxable but more importantly, the benefit restricts physicians from the ability to work in another occupation. Physicians are constantly searching for individually for “True” Own Specialty Disability Insurance.
With a “True” Own Specialty Disability policy, you’ll receive your full Tax-Free Disability benefit even if you elect to work in another occupation.
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