A Physician's Guide to Disability Insurance in 2023

Compare rates and features from the 6 best disability insurance companies for doctors in 2023.

Fill out a simple form to see your quotes. Let a physician insurance expert answer your questions and unlock exclusive discounts. Find the best true own-occupation disability insurance policy for you. It’s that simple.

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Step 1

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This will assure that we provide you with policies that are tailored just for you.

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Step Two

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In just a few short minutes, your licensed Insurance Expert will provide you with a comprehensive array of options.

Since no two disability insurance policies are the same, this step allows you to quickly and effortlessly compare policies — saving you a headache (and time!)

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Who Offers Disability Insurance for Physicians?

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6 companies match your search
States
BBB Rating
A.M. Best Rating
Corporate Structure
Company
A.M. Best Rating
Definition of Disability
Future Increase Option
Residual Benefit
States Available In
AMA
A.M. Best Rating N/A
Definition of Disability N/A
Future Increase Option N/A
Residual Benefit N/A
States Available In Available in 55 states. (View States)
States Available
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Canal Zone
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Guam
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Puerto Rico
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virgin Islands
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
Ameritas_Logo_mqinpj Ameritas
A.M. Best Rating A
Definition of Disability Own-Occupation Definition
Future Increase Option Available annually to age 55
Residual Benefit Requires 15% loss of income
States Available In Available in 51 states. (View States)

Ameritas Life is as reputable as any name in the insurance industry. However, it’s actually a newcomer to the disability insurance space in comparison to its competitors. DInamic Foundation is its best disability insurance product for doctors. Policies are underwritten and issued by Union Central Life, its wholly-owned subsidiary.

Ameritas features a true own-occupation definition of disability. This provision benefits you if an accident or illness prevents you from practicing your specialty.

DInamic Foundation requires you to choose between non-cancelable coverage and guaranteed renewal. The maximum benefit period available is to age 70. Ameritas offers basic and enhanced residual disability riders. It also offers two different COLA riders.

    Pros
  • True own-occupation provision.
  • Lowest premium amount.
  • Two COLA rider and residual disability options.
  • Various add-ons such a good health benefit, presumptive total disability benefit, COBRA premium benefit, partial disability benefit, and non-disabling injury benefit.
    Cons
  • Slower customer service.
  • Lowest maximum policy benefit: $20,000 per month.
  • Must choose between non-cancelable coverage and guaranteed renewal.
  • For certain occupation classes, the own-occupation provision is only available for five years.
States Available
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
Guardian
A.M. Best Rating A++
Definition of Disability Own-Occupation Definition
Future Increase Option Available annually up to age 55
Residual Benefit Requires 15% loss of income
States Available In Available in 50 states. (View States)

As one of the largest, most trusted mutual insurance companies in America, Guardian Life is the Cadillac of its industry. Its disability insurance product, ProVider Choice, is a great fit for doctors. Policies are underwritten and issued by Berkshire Life, a wholly-owned stock subsidiary.

According to Guardian, total disability occurs when injury or illness prevents you from performing your occupation. For doctors, more than half of your income must come from hands-on patient care or surgical procedures to qualify.

Guardian’s true own-occupation definition of disability guarantees full benefits. It still applies if you’re able to maintain gainful employment in another occupation. In fact, you may be able to benefit if you can still practice your specialty with major limitations.

Coverage is non-cancelable and guaranteed renewable to age 70. You may elect 10-year, five-year and two-year benefit periods. Guardian offers 30-day, 60-day, 90-day, 180-day, 360-day and 720-day elimination periods.

Unlike other providers, Guardian features three cost-of-living adjustment (COLA) rider options. As for residual disability, Guardian offers both basic and enhanced partial riders.

    Pros
  • True own-occupation provision.
  • Highest COMDEX score: 99.
  • Highest maximum policy benefit: $20,000 per month.
  • Simplified underwriting for up to $7,500.
  • Various options for benefit and elimination periods.
  • Various options for COLA and residual disability riders.
  • Various add-ons such as an automatic benefit enhancement, benefit purchase option, catastrophic disability rider, hospice care benefit, serious illness supplemental benefit and student loan protection.
    Cons
  • Highest premium amount.
  • No presumptive total disability benefit.
States Available
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
massmutual-physician-disability-insurance_zalsic MassMutual
A.M. Best Rating A++
Definition of Disability Own-Occupation Definition
Future Increase Option Available annually up to age 55
Residual Benefit Requires 15% loss of income
States Available In Available in 50 states. (View States)

MassMutual has been a mainstay in the insurance game since 1851. MassMutual offers two disability insurance products, Radius and Radius Choice. Both feature provisions and add-ons that allow you to customize your coverage to meet specific needs. MassMutual helps you protect your income and retirement without relinquishing payment control.

MassMutual features a true own-occupation definition of disability. However, the provision is not part of your base policy. You must purchase it as an additional rider. With this provision in place, ‘total disability’ occurs when you cannot perform the main duties of your occupation. This requires you to be under a physician’s care.

Both Radius and Radius Choice are non-cancelable and guaranteed renewable to age 65. Radius is conditionally renewable for life, while Radius Choice is only until age 74. Both policies have benefit periods available to ages 65 and 67, as well as two years, five years and 10 years. Radius Choice also offers a maximum benefit period to age 70. Both policies offer elimination periods of 60 days, 90 days, 180 days, one year and two years.

MassMutual offers one cost-of-living adjustment (COLA) rider. After your first year of disability, your monthly benefit increases by a set percentage each year. MassMutual offers one option with basic criteria that increases your chance of qualifying.

    Pros
  • True own-occupation provision.
  • Various add-ons such as an automatic benefit enhancement, catastrophic disability rider, future increase option, presumptive total disability benefit and student loan protection.
    Cons
  • Own-occupation provision sold separately.
  • Only one COLA rider and residual disability rider option.
  • No benefit purchase option, hospice care benefit or serious illness supplemental benefit.
States Available
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
Principal Logo Principal
A.M. Best Rating A+
Definition of Disability Own-Occupation Definition
Future Increase Option Future Increase Option
Residual Benefit Requires 20% loss of income
States Available In Available in 50 states. (View States)

Principal Life is among the most competitive providers in the disability insurance market. HH750 is an excellent option for doctors seeking a top-shelf disability insurance product. It features a wide variety of options that afford you maximum flexibility.

Principal Life is among the most competitive providers in the disability insurance market. HH750 is an excellent option for doctors seeking a top-shelf disability insurance product. It features a wide variety of options that afford you maximum flexibility.

Principal offers both a true own-occupation and a modified own-occupation provision. A true own-occupation provision is the best bet for highly-skilled individuals like doctors. You benefit if you become unable to perform the material and substantial duties of your specialty. It still applies if you can maintain gainful employment in a different occupation.

Modified own-occupation is a watered-down version of the former. Frankly, it’s only feasible if you’re cost is a concern. The definition of disability is the same, but you will not benefit if you can fulfill another occupation. Either way, both provisions are available as part of your base policy. You do not have to purchase an additional rider.

HH750 is non-cancelable and guaranteed renewable to age 65. Benefit periods are available to ages 65, 67 and 70, and for two years and five years. Principal features 30-day, 60-day, 90-day, 180-day and one year elimination periods.

Principal offers one cost-of-living adjustment (COLA) rider. After selecting a maximum benefit between 3-6%, it increases on a compound basis. Principal also offers one partial residual disability rider.

Modified own-occupation is a watered-down version of the former. Frankly, it’s only feasible if you’re cost is a concern. The definition of disability is the same, but you will not benefit if you can fulfill another occupation. Either way, both provisions are available as part of your base policy. You do not have to purchase an additional rider.

HH750 is non-cancelable and guaranteed renewable to age 65. Benefit periods are available to ages 65, 67 and 70, and for two years and five years. Principal features 30-day, 60-day, 90-day, 180-day and one year elimination periods.

Principal offers one cost-of-living adjustment (COLA) rider. After selecting a maximum benefit between 3-6%, it increases on a compound basis. Principal also offers one partial residual disability rider.

    Pros
  • True and modified own-occupation provisions.
  • Advisor’s Choice Award for advisor support.
  • Available to those who only work 20 hours a week.
  • Simplified underwriting for up to $6,000 per month.
  • Various add-ons such as a benefit update rider, catastrophic disability rider, future benefit increase rider, presumptive total disability benefit, and serious illness benefit.
    Cons
  • The modified own-occupation provision can be misleading. It can save you money now, but you will not receive as strong of benefits as true own-occupation.
States Available
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
the standard logo The Standard
A.M. Best Rating A
Definition of Disability Own-Occupation Definition
Future Increase Option Available annually up to age 55
Residual Benefit Requires 20% loss of income
States Available In Available in 50 states. (View States)

The Standard is among the largest, most trusted providers in the disability insurance space. The company has several options, but Platinum Advantage is the most beneficial for doctors. It features built-in provisions and additional riders that maximize income protection.

The Standard’s true own-occupation definition of disability is available as an additional rider. With this provision in place, ‘total disability’ occurs when you are unable to perform the substantial and material duties of your specialty. You must also be under the care of a physician to qualify.

Platinum Advantage is guaranteed renewable to age 67. To make your policy non-cancelable, you must purchase an additional rider. Benefit periods are available to ages 65 and 67, as well as two years, five years and 10 years. Elimination periods of 60 days, 90 days, 180 days and one year are available.

The Standard offers one cost-of-living adjustment (COLA) rider. After selecting a maximum benefit between 3-6%, it increases annually on a compound basis according to the Consumer Price Index. The Standard offers a basic residual disability rider.

    Pros
  • True own-occupation provision.
  • Wide variety of options and strong coverage guarantee.
  • No-cost riders and benefits, such as the family care benefit.
  • Various add-ons such as an automatic increase benefit rider, benefit increase rider, catastrophic disability rider, family care benefit, premium waiver benefit, presumptive total disability benefit, student loan rider and survivor benefit.
    Cons
  • Own-occupation and non-cancelable riders sold separately.
  • Only one COLA rider and residual disability rider option.
  • Lowest COMDEX score: 79.
States Available
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
No companies match your search.
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Why do physicians need disability insurance?

The case for physician disability insurance begins with a sobering reality: Between 25-30% of American workers will suffer a disabling event at some point in their career that prevents them from earning an income. As a highly-trained, highly-compensated medical professional, ask yourself:

  • What would you do if you couldn’t work?
  • How would you pay your bills if you lost your income?
  • What would become of your medical practice if you were unable to treat patients?
  • How would the loss of income affect your lifestyle and ability to provide for your family?

Depending on how you answer these questions, you may want to purchase disability insurance to protect your income.

Why own-occupation disability insurance?

Medical specialties need own-occupation coverage because of the time and commitment they have made to achieve their degree of specialty/position. Because of this vast experience, medical specialties have the ability to earn income even while being disabled. To have a disability policy that would penalize you to earn an income while being disabled goes against LeverageRx’s commitment to their clients. That’s why all policies we offer allow you to work while being disabled with no reduction to your benefit.

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All Other Modified Own-occupation

  • Insurance Company defines your occupation
  • Lose all or part of the benefit if working any other occupation while being disabled
  • Rates can go up even when the benefit stays the same
  • Most require medical exams
  • Not able to increase or have a small cap
  • Only get quotes from one company
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We've helped thousands of medical professionals across the country find the best disability insurance

Service of this company was just marvelous! - David N
Service of this company was just marvelous! - David N
Service of this company was just marvelous! - David N
Service of this company was just marvelous! - David N
Physician excited about disability insurance

Who Qualifies for Own-Occupation Disability Insurance?

All medical providers should have an own occupation disability insurance policy. As a nurse, resident physician or an attending – we can tailor a policy to fit your medical profession and these policies will also allow for adjustments in the future with no additional medical underwriting. All the policies we offer are able to be written alongside a group disability plan from your employer providing the most comprehensive coverage.

  • Medical Doctors (MD)
  • Doctors of Osteopathy (DO)
  • Doctors of Dental Medicine (DMD)
  • Doctors of Dental Surgery (DDS)
  • Optometrist (OD)
  • Podiatrist (DPM)
  • Veterinarian (DPM)
  • Chiropractor (DCH)
  • Nurse Practitioner (NP)
  • Certified Registered Nurse Anesthetist (CRNA)
  • PharmD
  • Registered Pharmacist (RpH)
  • Physician Assistant (PA)
  • Doctor of Osteopathic Medicine (DO)
  • Nurses (RN)
Table of Contents
Home > Disability Insurance

A Physician's Guide to Disability Insurance

Replacing a physician’s income if they become disabled without disability insurance would be nearly impossible.

That is why investing in a true own-occupation disability insurance policy, created specifically for physicians, is a financial must for protecting your future income.

However, even within a policy created with physicians in mind, there are many factors to keep in mind.

This guide will help you understand the many elements of a physician disability insurance policy and how to find the policy for you.


Why Physicians Need Disability Insurance

Aside from life insurance, disability insurance should be a top priority for any physician.

Why?

Physicians are among the top earners in the country. This is an advantage. However, the old adage, “The higher they are, the harder they fall,” comes into play.

Imagine suddenly losing the ability to earn such a high salary due to a disability. How devastating would that loss of income be? It certainly wouldn’t be easy to find a way to replace it.

Many take the risk of proceeding without disability insurance coverage, claiming that the chances of needing it are slim to none.

Instead of relying on perceived risk, let’s take a look at the facts. The fact is that 1 in 4 Americans will be disabled for more than a year before they retire, physicians included.

Imagine yourself and three other physicians in a room, and one of you will need disability insurance benefits at some point in your life. Do you feel confident it won’t be you?


How Disability Insurance Works

Before purchasing a disability income insurance plan, it’s important to understand exactly how it works.

There are several different types of disability policies available to physicians. We’ll compare these and discuss some limitations to your policy benefits.

We’ll also discuss how the cost is determined so that you can estimate how to add this to your financial plan.

Long-term vs. Short-term

Long-term disability insurance and short-term disability differ in their coverage length.

While short-term disability policies are meant to provide coverage immediately but only last for mere months, long-term disability policies take some time to kick in but last for years, even decades.

Group vs. Individual policy

An employer often provides a group policy to its employees with blanket coverage for all members. With group coverage, you have no freedom to pick and choose how much coverage you want to pay or which riders to include.

Individual disability insurance allows you to shop around for the best policy with the terms and benefit amount that best suits your needs. While group policies are cheaper, investing in an individual policy is well worth the money.

Exclusions

Any limitations to an insurance policy are excluded from coverage.

Exclusions for disability insurance are similar to those for health insurance. These often include pre-existing medical conditions, injuries due to self-harm, on-the-job injuries, and more. These differ depending on the policy.

Some insurance companies may require a medical exam and drug test to insure a physician.

Cost

There are many factors that can affect the premium of a disability insurance policy.

These include your age, income, chosen riders, coverage amount, the benefit period and elimination period, your medical specialty, and location.

The underwriting process is how an insurance company decides the cost of your policy. This process can take between two to six weeks to complete.

First, you need to fill out an application. Discuss with your insurance agent the specifics of what you want to be included in your policy. You will get a quote based on the policy terms you choose to include.

The agent will then hand off the application to an underwriter, and they will finalize the terms and cost of your policy.


Two Most Important Aspects of a Disability Insurance Policy

Doctor exploring an insurance disability guide

The two biggest concerns any physician should have about their disability insurance policy are its definition of disability and whether or not it is guaranteed renewable.

Own-Occupation Definition of Disability

The best disability insurance is own-occupation disability insurance, but even within this definition, there are variations.

True own-occupation policies will provide full benefits if you can no longer perform the duties of your current profession or specialty due to disability, even if you can still earn income from a different occupation.

Other types of definitions of disability include:

Modified

This version of the own-occupation policy will pay your full benefits if you can’t perform your current occupation. Still, it stipulates that you may not be employed in any other occupation or will lose your benefits.

Transitional

This policy will pay your full benefits if you are gainfully employed in another field. However, to continue to receive benefits you must earn less income in your new job than you earned in your previous occupation.

Any Occupation

This is the lowest tier of disability definition as it will only pay your full benefits if you can no longer earn an income from any occupation. This includes occupations that earn far less than your former salary.

Guaranteed Renewable

With this type of policy, the insurance company cannot deny or change your disability coverage until you turn 65. They also cannot ask for another medical exam.


Terms of a Physician Disability Insurance Plan

While shopping for a disability insurance plan, you may encounter certain terms that you aren’t familiar with. This section will act as a glossary of terms for disability insurance.

Waiting Period

Also referred to as the elimination period, a waiting period is a length of time between the date of your injury or diagnosis and the date you can start receiving monthly benefits.

For long-term disability insurance, this period usually lasts between 3-12 months.

Benefit Period

This period is the length of time you continue to receive monthly benefits in the event of becoming disabled.

The policyholder chooses this time frame based on the options provided by the insurance company, usually between 5-20 years.

The benefit period can also last until retirement age — 65 to 70 yrs old.

Monthly Benefit

The monetary amount the policyholder receives each month while disabled is the monthly benefit.

This amount is usually between 40-60% of gross salary divided into 12 payments.


Riders Worth Considering

Most disability insurance policies have optional riders that you can add to your policy for an additional cost.

This list includes the riders that a physician should consider adding to their policy to get the highest level of financial protection:

1. COLA Rider

COLA stands for the cost of living adjustment. With this rider, your monthly benefit will increase incrementally as the cost of living increases over time. Learn more about COLA Rider insurance here.

2. Residual Disability Rider

This rider might be known by another name, partial disability rider, in different policies. This rider will pay the policyholder partial benefits if they become partially disabled.

3. Catastrophic Disability Rider

In the event of a total disability, this rider will provide extra funds to help pay to hire the help you need for care.

These riders have certain medical requirements that must be met before these funds are awarded.

Some examples include losing your sight or hearing, losing the use of both hands, or being unable to perform daily activities on your own.

4. Future Purchase Option Rider

Also called the Future Increase Option, this rider gives you the option to purchase extra insurance as your income increases.

5. Student Loan Repayment Rider

Many medical students accumulate a large debt when securing a medical school loan. This debt often takes years to pay off, even after they begin to earn a higher salary as a physician.

If they become disabled while still owing student loans, this rider will provide extra funds to cover these payments while they are disabled.


Disability Insurance Discounts for Doctors

Doctor exploring disability insurance discounts

Physicians may be entitled to certain discounts on their insurance premiums.

Take a look at the discounts below. Ask your insurance agent if you think you might be eligible for these discounts.

Unisex Discounts

If you are a woman, opting for a unisex discount can lower your premiums since policies for women usually cost much more than those for men.

Trainee Discounts

If you are still a resident or fellow, you are likely entitled to a discount on your premiums.

Residents and fellows, who tend to be in their twenties or thirties, are generally in better health than older physicians, so insurance companies provide premium discounts to encourage residents to purchase coverage early in their career.

Multi-life Institution Discounts

If your insurance agent signs three or more physicians from the same institution for disability insurance, they may receive a discount even if the physicians don’t know each other.

These physicians must be from the same institution and apply through the same agent.

Association Discounts

Belonging to an association such as AMA can sometimes earn you a discounted rate for disability insurance.


The Big Six Companies

When it comes to disability insurance companies, there are six main companies that set the bar. These are respectfully referred to as The Big Six.

Securing an insurance policy from one of these companies will increase your chances of getting the protection you deserve when you really need it.

In fact, these are the only insurance providers that offer policies that meet the two most important criteria of disability insurance; true own-occupation disability and guaranteed renewable.

Let’s highlight these companies’ strengths and identify where they may fall short. This can help you to pinpoint which of these you may want to get a quote from first.

1. Guardian

This insurance provider has been providing top-quality insurance for over a century. They have an A+ rating with the BBB, showing that they are a reputable company.

Guardian offers short and long-term policies, group and individual coverage, and even supplemental disability insurance policies.

The Guardian Provider Choice Plan can be customized to match your needs. You can choose an elimination period between 30-720 days, your premium tier, and any additional riders.

This policy also has several built-in benefits, including waiving your premiums if you become unemployed and an automatic benefit increase for the first six years of your policy.

Guardian is known for having strict underwriting guidelines, which may make it difficult for anyone with a pre-existing condition to qualify.

Read our full review to learn more about Guardian disability insurance.

2. MassMutual

The oldest insurance provider on this list, MassMutual is still among the nation’s top disability insurance providers.

The second half of its name shows that policyholders can earn dividends that can help to reduce the cost of premiums.

MassMutual offers several choices for elimination and benefit periods and has a maximum monthly coverage of $20,000. You also have several optional riders for added protection.

Read our full review to see if MassMutual disability insurance makes your list.

3. Principal

Known for its fast underwriting process and stellar customer service, this insurance provider is a favorite for those who value convenience.

Principal offers policies with several built-in benefits. These include a future increase rider, a serious illness benefit, and a benefit update rider.

You can choose a benefit period that lasts until you are 70 years old. This will provide plenty of protection should your disability last until retirement.

For more information on Principal disability insurance, read our full review.

4. Ohio National

Best known for its life insurance, Ohio National also offers one of the nation’s best disability insurance policies.

You can choose an elimination period between 60-365 days, and its policies come with these additional benefits free of cost:

  • Survivor benefit
  • Hospice benefit
  • Recurrent disability benefit

There are also plenty of additional rider options that will increase your protection while also increasing the cost of your premiums.

Read our full review of Ohio National disability insurance to learn about their policies.

5. Ameritas

This insurance provider was founded in 1887. It offers everything a physician would look for in a disability insurance policy, including true own-occupation and a guarantee of renewability.

Ameritas offers many additional riders to choose from and a Good Health Benefit that will reduce the elimination period each year that you don’t collect benefits.

The main downside to this provider is that its maximum payout is $20,000 per month, which may be low for some higher-earning physicians.

Read more about the pros and cons of Ameritas disability insurance here.

6. The Standard

This provider is the best choice for more mature physicians seeking disability insurance. It also provides a very competitive suite of additional benefits. Many of these benefits aren’t offered by any other insurance company.

With that being said, this company is known for being somewhat strict on medical underwriting.

Read more about The Standard disability insurance in our full guide.

Conclusion

The question is not whether a physician should purchase a disability insurance policy to protect their income, but which provider will provide the best benefits to suit their needs.

LeverageRx can help guide physicians through the disability insurance shopping experience and answer any questions they may have along the way.

Disability Insurance Designed for Doctors

Why use LeverageRx for disability insurance coverage?

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We will show you all your disability insurance options to help find the best rate

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