The One Item We Don't Need to Discuss

Normally when we are discussing disability insurance, we talk about the need for it and tell people how 90% of long-term disabilities are illness claims. In the medical field you see the need for this product every day, and odds are you have had several lunch-n-learns were the topic of protecting your future earnings potential with a resident physician disability insurance policy has already come up. We sell a lot of policies to residents and fellows across the country, so we know what the real questions you have are;

Why Should I Buy Disability Insurance Now?

There are several reasons why today is the best day for you to buy disability insurance, but if you don't think today is the best day after these two there is no point in listing the rest.

  • Cost - Non-cancelable disability income policies fix their prices for the life of the contract, you are never going to get a rate increase down the line unexpectedly. If you are 30 now, you would want to pay the rates of a 30-year-old for the next 35 years instead of paying the rates of a 31-year-old for the next 34 years. You will save a bunch of money over time by locking in your rates at your current age.
  • Health - Generally, you are never going to be healthier in the eyes of an insurance company underwriter than you are today. You may not think that anti-anxiety medication you decide to take next year means anything, or that chiropractic visit was relevant, but to a disability insurance company that could result in a back exclusion or mental/nervous exclusion. As time goes on you have more medical issues that could result in exclusion limitations, extra ratings, or even prevent you from getting a policy. There is no better time than right now.

Is Guardian The Right Disability Insurance Policy For Me?

In our professional opinion, there is not a single policy on the market today that can say they have a more comprehensive level of protection for a physician than Guardian. There is a reason Guardian has been a market leader in disability insurance for physicians for over 20 years now. They have the absolute best definition of total disability any physician can get, it is a true own-occupation definition for the life of the policy and it contains medical specialty language built into the policy.

This allows you to receive your full disability benefit PLUS your income from another occupation or medical specialty if you chose to work in another capacity. Because you can collect your new income and not have your disability benefits reduced, you could get back to what you were making prior to the disability. Some people call this "double-dipping", but we just call it good sense to protect your full income. 

Can I Get Any Special Discounts Now?

Yes! Unfortunately, the instant quote calculator at the bottom of this page does not incorporate those discounts for you, but the agent assigned to you will review our extensive database of discounts for schools and hospitals to find one for you. There are a lot of schools and hospitals where discounts are available, and we have a very large list to choose from to make sure you pay the lowest rate possible for your policy.

How Do I Do This Right?

This does not need to be a concern for you, we have sold thousands of disability insurance policies to physicians all across the country. The reality is, most residents and fellows establish their disability insurance pretty close to the same way. We are not going to let you make any large mistakes, but we will walk you through the more significant decisions to make sure your policy fits your needs.

Most of your peer group tends to buy Guardian's Provider Choice policy 1, and usually choose the "Premier" or the "Select" option. The "Graded Premium" option is also very popular to keep the rates low while in residency, and you convert it to a level premium after you are more financially established a few years later. Guardian* offers special amounts based on your medical specialty, and our clients go with those special limits. There is a good chance we will also use as much Future Increase Option possible to guarantee your ability to increase your coverage in the future as your income increases regardless of any adverse changes in your health.

If I Have Group LTD Now, Isn't That Enough?

Group LTD can provide a base layer of protection that might be ok for some but generally isn't what our physician clients are looking for. We have yet to see a group LTD plan that is as comprehensive as a good individual policy, so just about every physician we talk to ends up supplementing their employer-provided LTD coverage with an individual DI policy. If you'd like to read more about why relying on group long-term disability is a bad idea, we think you'll find it helpful.



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1Individual disability income products underwritten and issued by Berkshire Life Insurance Company of America (BLICOA), Pittsfield, MA. BLICOA is a wholly owned stock subsidiary of The Guardian Life Insurance Company of America (Guardian), New York, NY. Product provisions and availability may vary by state.

2022-140682 Exp: 7/26/24