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disabilityincomepro.com
Emergency Medicine Physician Disability Insurance
Do we really need to tell you that accidents happen to everybody, and they don't discriminate by occupation? Do we need to remind you that an unexpected diagnosis of a dreaded disease can and does happen to people whether or not they are a plumber or a physician? You see this every day in the ER, and as an ER physician you must take steps to insure that should something happen to you which prevents you from performing the material and substantial duties of an emergency medicine physician, that you will continue to have an income to support your family.
Policy Benefits for an ER Physician
Berkshire Life Insurance Company of America offers one of the most comprehensive disability insurance policies available to an emergency medicine physician. You can choose from four benefit periods; 2 years, 5 years, to age 65, or the X45 graded lifetime benefit period. Berkshire's graded lifetime benefit period is one of the longest benefit periods that any physician can have with any disability insurance company in America. All of the quotes that our agency runs for doctors who fill out our quote request form will have a grid showing the premiums for all four benefit period choices. This grid will show you that it really is not much more expensive to have a graded lifetime benefit period, than it is to have a benefit period to age 65. What many people fail to realize is that the need for a longer benefit period is higher the younger you are. Until a retirement plan is well funded, we recommend the graded lifetime benefit period to protect against a permanent disability. If benefits stop at age 65 on a permanent disability, what will you do after age 65 for money? Odds are you were not able to fund the retirement plan you had hoped to have while you were working in the ER.
Definition of Total Disability
As an emergency medicine physician you fall into Berkshire's occupational class 3. Should you become disabled under the terms of the policy, Berkshire will pay you a pure own-occupation benefit for the first five years of a claim. After five years in the same claim, the definition shifts to a modified own-occupation benefit. During the first five years in each claim you could work in some other capacity, and so long as the disability prevents you from performing the material and substantial duties of your occupation, Berkshire would continue to pay you the total disability benefit. After five years in the same claim, this is not a policy that forces you to go back to work in some other occupation. Be careful, those types of policies are out there. Under this policy, if you "CHOOSE" to work in another occupation after five years in the same claim, in claim years 6 and on Berkshire would determine the monthly claim benefit based upon your percentage loss of income compared to your pre-disability earnings. The Berkshire ProVider Plus disability insurance policy truly is one of the most comprehensive contracts in the industry for your occupation. The bottom line is that it does offer an excellent source of medical specialty coverage, and does so for the longest benefit period possible.
Occupational Hazards
Let's face it, being an emergency medicine physician is not the same job as a pediatrician. Your job can be physically demanding, and extremely mentally demanding. Some of the most common claims that Berkshire receives are spinal, as well as mental and nervous. Stress, anxiety, and depression are serious conditions that many of Berkshire's competitors limit payable benefits to 2 years for. Berkshire does not limit disability benefits to 2 years for any mental and nervous, or substance abuse claims with the exception of Florida. There is a 2 year maximum for benefits payable due to mental nervous/substance abuse conditions for policies written in Florida.
Feel free to contact one of our disability insurance specialists. We can help you find answers about every major insurance company's disability insurance contract.
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W-2 Employees |
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