Disability
Disability Is Too Big A Risk To Ignore - Doctors Must Buy Insurance Protection Geared For Their Needs

Disability Is Too Big A Risk To Ignore – Doctors Must Buy Insurance Protection Geared For Their Needs

By Deny Smith
In Business
on

Doctors usually pay attention to their life insurance needs but ignore the likelihood of a debilitating incident. 

The statistical probability of a medical professional suffering a severe disability is high, impeding their ability to continue with their practice.

While some medical professionals are financially sound to fund a disability on their own, most require disability insurance to cover the risk. 

Yet it is not surprising if some doctors feel that a blanket coverage with a one-size-fit approach is adequate for any emergency. 

Doctors who feel this way are sadly mistaken. Given their unique situation, doctors do need healthcare professionals disability insurance designed exclusively with their earnings and practice in mind. 

Moreover, the ongoing Covid-19 pandemic has exponentially increased the risk of medical professionals suffering long-term issues if they get infected by corona virus. 

Here are a few good reasons why doctors need a disability insurance 

  • As a doctor you have special skills that require unique cognitive abilities, excellent vision and competent use of both hands. A compromise on any of these can completely halt your practice or reduce your workload.
  • You may suffer temporary disability that may require only a few weeks or months to recover. Common causes include pregnancy, digestive disorders, fractures, sprains and strains and even mental health issues. 
  • You may suffer serious injuries or illnesses that can impair your ability to practice for an extended period of time. The reasons can be musculoskeletal disorders, cancer, serious fractures that may make you lose function of arms or legs, or persistent mental health issues. 
  • High level of burnout during Covid-19 resulting in mental disorder and your ability to work. 

It has never been a straightforward task to buy high-quality doctors disability insurance. While it is true several attractive options are available today, the fact remains healthcare professionals insurance has become more intricate.

While making the right choice, you must understand different types and the advantages each brings. For healthcare professionals including doctors and dentists, disability insurance is essentially of two types.

  1. Long-term disability insurance – Provides coverage for several years after a disability occurs 
  2. Short-term disability insurance – It covers illness or injury for 13-26 weeks. 

When you are opting for a coverage, you must factor in the following five points 

  1. The premium
  2. The size of the benefit
  3. The duration of benefit
  4. The waiting periods 
  5. The policy’s definition of disability 

Needless to say, choosing a trustworthy and reliable insurance provider is a must.

In this regard, disability insurance providers are worth keeping in mind. It has a good reputation for offering innovative and tailored solutions crafted to suit different medical practices. Through its expansive disability insurance broker network, insurance brokers have built a reputation for providing unmatched protection and top-class customer service.  

According to a report, the healthcare industry has high incidences of occupational injury and illnesses because they face unique risks related to their workplace and practice. 

By choosing a disability insurance provider, you will stand to get an elevated level of coverage.