Long Term Disability Insurance Physicians in Buffalo NY
Long-term Disability Insurance
When you think about your most valuable asset, it’s normal to focus on your house or property; maybe even your vehicle.
But in reality, your ability to work and earn an income is your biggest asset, so it makes sense to think about protecting it.
LTD insurance is coverage that replaces a portion of a physician’s income should he or she become unable to work because of illness or injury.
It begins paying benefits after a set length of time, called an “elimination period,” usually 90 days, during which short-term disability coverage may apply.
Securing LTD coverage can be complicated, confusing and expensive.
But insurance experts, advisers and physicians who’ve suffered injury or illness all agree: Doctors need it.
LTD insurance is a complex financial product that experts say should be customized for each physician depending on specialty, age, gender, medical history and financial situation.
Where and when to get LTD insurance for Physicians in Buffalo NY
Physicians have unique jobs and have high incomes, so when it comes to individual insurance policies only a half-dozen companies offer LTD insurance to doctors: Ameritas, Berkshire/Guardian, Mass Mutual, Ohio National Financial Services, Principal and The Standard.
Policies can be purchased from independent insurance brokers.
Independent brokers are able to offer more options and more plans because they don’t favor one company over another.
As for when to buy coverage, the consensus is the earlier the better. LTD insurance, like life insurance, is cheaper at a younger age. Insurance companies often offer discounted policies—sometimes without medical underwriting requirements—to residents.
2019 Best Long Term Disability Insurance for Physicians in Buffalo NY
When it comes to protecting your assets, one of the most important things you can insure isn’t a material object like your car or home – it’s your ability to work and earn a living.
Choosing the right disability coverage is important.
In the event you become disabled, you’ll want to ensure that you and your family have enough coverage.
A representative at Mintco Financial will look at the individual factors in your life and work situation, and help design the best policy that meets your personal insurance needs.
We can help introduce you to the different companies and policies available.
We can also ask the right questions and answer your questions so that you make an informed decision on what will be the best long term disability insurance policy for you-based on your unique need and goals.
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