Most doctors under the importance of disability insurance for physicians. However, many are underinsured for their level of training, education, and specialty because they forget to review the policy to adjust coverage for career growth. If you are still relying on the same policy you took out when you started medicine, it is time to talk to your agent about upgrading your insurance.
You should also review your policy whenever you have major milestones in your life. Consider things such as buying a home, getting married, having children, or even taking on major financial responsibilities like paying for college for the fore mentioned children. You do not want to stress over how you will pay for your lifestyle after an accident or injury that affects your ability to earn an income.
Once an accident occurs, you can no longer close that gap, so its important to review your insurance coverage. It is easy to get busy and think that youre superhuman and wont ever get hurt. No one means to overlook their insurance needs, but it is very easy to let other priorities get in the way.
Dont put off a review of your disability insurance for physicians. There is no better time to protect your financial future of bringing home a paycheck for your family than right now. Make sure that your financial obligations do not exceed your disability insurance and take care of your life.