Physician Disability Insurance

Guardian is the number one non-cancellable individual disability insurance policy in the country*. Physicians can obtain an own-occupation definition of total disability with medical specialty language built into the contract. We are one of few carriers in the market to have medical specialty language built into the policy. If you have limited your occupation to the performance of the material and substantial duties of a single medical specialty and you are unable to perform those duties due to injury or sickness, you may be totally disabled even if you are able to work in some other capacity.

Many carriers offer own-occupation, but very few offer own-occupation disability insurance to physicians with medical specialty language built into the policy.

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Why Guardian Disability Insurance?

While an own-occupation policy is very important, it may not be the most important part of a policy for you. There are several features to the ProVider Plus policy that make it one of the most comprehensive disability insurance policies a physician can own. We believe the residual disability rider, which offers a recovery benefit for up to the entire benefit period, just may be as important as the medical specialty own-occupation definition of total disability.

Guardian, unlike most of their competitors, has a residual disability rider that has an unlimited recovery benefit after you recover from a claim. Because there is no loss of time or duties requirement, this rider can pay you up to the end of the benefit period until you financially recover from a disability, not just until you physically recover. As a physician, if you were disabled for a year, it may take years before you financially recover. You should own a disability insurance policy that can continue to pay you until you financially recover from a disability.

The Best Way To Buy

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Protect Your Business As Well

The first step should always be to protect your personal income with an individual disability insurance policy. If you own a practice, then you also need to worry about your business. Guardian offers physicians an Overhead Expense disability insurance policy that will help reimburse deductible business expenses during a period of disability. This policy will help to make sure you have a practice to return to after you recover from a claim, and you may be able to deduct the premiums for this policy 100%.

If you have partners in the business, you should also make sure that your buy-sell agreement has a provision for total disability. That provision should also be funded with a Disability Buy-Out insurance policy, making certain that there is capital available should you or one of your partners become totally disabled and unable to continue practicing medicine.