According to Medscape’s 2017 Compensation Report, anesthesiologists earn an average of $364,000 annually. Over a 30 year career in medicine, this equates to over $10.9 million in potential earnings for an anesthesiologist.
As high-income earners, anesthesiologists should consider disability insurance to help protect their ability to earn an income in the event they suffer a disabling illness or injury.
Between undergrad, medical school, and training, anesthesiologists spend a lot of time (and money) to become practicing doctors. Because of this, anesthesiologists need to consider physician disability insurance to protect their future income if they were to experience a disabling injury or illness that would keep them from practicing.
Pro Tip: The quickest way to check disability insurance rates for anesthesiologists!
Why every anesthesiologist needs disability insurance
According to Medscape’s 2017 Compensation Report, anesthesiologists earn an average of $364,000 annually. Over a 30 year career in medicine, this equates to over $10.9 million in potential earnings for an anesthesiologist.
The financial impact of an unexpected injury can be devastating. Physician disability insurance can ensure that your current lifestyle can stay intact if you lose your ability to be an anesthesiologist.
Best disability insurance companies for anesthesiologists
Relative to other medical specialties, disability insurance companies consider anesthesiologists to be a higher risk and place them in a higher occupation class. Because of this, anesthesiologists will typically pay more for disability insurance.
Here’s how the best disability insurance companies classify anesthesiologists and the expected cost for a healthy 30-year-old located in Texas.
The rates provided above are based on the following assumptions:
- The applicant is a non-smoker, in good overall health and with access to some common discounts
- Quote assumes the client is 30 years of age, located in Colorado
- Contains a true own occupation definition of disability that allows insured to collect benefits even if they’re earning income somewhere else
- The disability insurance plan pays $10,000 per month in benefit to age 65
- Cost of living adjustment and partial disability riders are added