Disability Insurance 101

Abstract

As an EM physician, you have invested a significant amount of time and money in yourself. Insurance companies estimate that as many as one in seven physicians will be disabled at some point during their career (Dahle. Physician Disability Insurance. 2022 [cited 2022 9/11]; Available from: https://www.whitecoatinvestor.com/what-you-need-to-know-about-disability-insurance/1). You need to protect your ability to work, and that is why you need disability insurance. Life insurance pays out if you die; disability insurance pays out if you are unable to work. Unlike life insurance, where all 30-year term life insurance policies are very similar, disability insurance policies are much more complicated and much more varied. You may be able to purchase long-term disability insurance through your employer or specialty organization, but the best insurance with the best coverage will be an individual policy with “own occupation” or “specialty-specific” coverage.