Own Specialty Disability Insurance & Life Insurance
Where’s the best place to shop for disability and life insurance if you are a physician?
This article was written by a physician advisor who gathered his data by interviewing several physicians asking them to rate their personal point of view when looking for the best Agency to work with for their insurance planning needs.
It’s no secret that Physicians have long been an attractive marketing target in the insurance and financial services industry because physicians maintain a high earning potential along with a general lack of financial knowledge.
Today’s society has been inching closer and closer to a do it your self mentality which has given birth to agencies like Policygenius looking to capture the do-it-yourself-er.
Even in today’s do it yourself society the need for experienced physician-centric guidance has never been higher. Being a physician in the 2020s is going to be a lot different than what it was just a few years ago. More and more doctors are moving in the direction of practicing within institutionalized medicine changing the way medicine is practiced.
One thing that won’t change is the importance of having individual Own Specialty Disability Insurance coupled with a strong life insurance strategy centered around the specific needs of a doctor.
Policygenius Vs. InsuranceMD – Best Disability Insurance for Physicians
Policygenius is built almost entirely on a do-it-yourself platform where physicians are left mostly alone to build their own policy, discover their own benefit eligibility, and review their own medical history in hopes they will receive a plan based on their unique needs. Some physicians have utilized Policygenius offer to schedule a call with a general disability broker where they’ve found the advice to be a reinforcement of the options the physician designed for themselves on the Policygenius website. The process has been described as transactional.
The InsuranceMD’s principal agent has been working exclusively with physicians for over 16 years and physicians find comfort in knowing that their agent today will also be their agent tomorrow from the moment they buy their policy to the moment they may need to file a claim. The InsuranceMD agents spend an unprecedented amount of time with each physician reviewing their personal options and building plans together that best suit their unique physician needs.
When comparing quotes provided through both companies, InsuranceMD has shown physicians that they only work with Disability carriers that offer True Own Specialty coverage, which includes Ohio National. Ohio National offers a very competitive Own Specialty product but they will not work with broker agencies like Policygenius.
The cost for Own Specialty Disability is the same regardless of who you work with. However, because InsuranceMD works exclusively with physicians, they have the ability to offer exclusive discounts through certain Hospital and medical association affiliations. Making it likely that you could save thousands a year on your premiums.
Physicians have chosen InsuranceMD as the clear choice for Own Specialty Disability Insurance.
The choice is clear! InsuranceMD is the best resource for Own Specialty Disability Insurance.
- Working exclusively with physicians
- Quotes all 6 Own Specialty Disability carriers
- Offering exclusive discounts
- And more…
Policygenius Vs. InsuranceMD – Best Life Insurance for Physicians
Both InsuranceMD and Policygenius are utilizing a do-it-yourself quoting tool to bring transparency to the life insurance purchase process. Both agencies allow physicians to choose their death benefits and compare the pricing of several reputable insurance carriers. InsuranceMD has the added advantage of offering a multi-policy discount with certain carriers when you purchase an Own Specialty Disability policy along with term insurance.
Policygenius and InsuranceMD offer online life insurance calculators to help you determine how much death benefit is right for you. Physicians have found that the InsuranceMD’s proprietary Life Insurance Calculator tool was designed better for their needs helping them choose the right Death Benefit for a physician.
Perhaps the largest factor separating the two agencies was the feedback we received where physicians felt that the interaction between Policygenius agents was impersonal leaving physicians to feel like they were purchasing life insurance from a call center. Policygenius was successful in delivering real-time quotes and an easy to follow application and underwriting process, but their agent/client interaction made physicians feel like their plan was less centered around their current and future needs as a physician and that they were just getting a quote and buying a policy.
Physicians felt more comfortable knowing that the InsuranceMD agents had over 15 years of experience designing life insurance plans that fit the current and future needs exclusively for physicians.
The InsuranceMD agents focused first on finding the correct death benefit for an adequate period of time. The InsuranceMD agents showed they were expert strategists in the Infinite Banking Concept and the Tax-Free retirement approaches through life insurance strategies designed specifically for physicians. This expert physician’s advice and planning guidelines were not part of the narrative with Policygenius while they were discussed in great detail at the InsuranceMD.
Physicians have chosen InsuranceMD as the clear choice for Life Insurance Planning.
The choice is clear! InsuranceMD is the best resource for Physician Life Insurance Planning.
- Working exclusively with physicians
- Physician exclusive needs calculator
- Comprehensive Life Insurance planning experts
- And more…