When it comes to the utilization of doctors' insurance policies and the potential for disability, the statistics reveal a significant trend: approximately one in six doctors are affected. Imagine being in your residency or fellowship program; statistically, one out of every six individuals within that program may find themselves needing to rely on such coverage. However, merely having a policy is not enough; it's crucial to ensure that the policy aligns with your needs and circumstances.
For physicians, especially, the type of policy matters greatly. One particularly beneficial option is what's known as a "true own occupation policy." This type of coverage is tailored to your specific medical specialty, providing comprehensive protection for your job role and allowing flexibility for work outside of your primary practice while still receiving policy benefits. Most physicians I've spoken with express a desire to continue working, if possible, even in the event of disability that doesn't render them completely unable to work. This kind of policy offers the assurance that they can pursue other professional endeavors while still receiving the necessary support.
Shelby Heiser is an advisor with Pattern whose mission is to take care of doctors so they can have the peace of mind and financial security to take care of others.
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