Understanding different disability plans can be complex for someone not familiar with all the insurance jargon that comes along with these plans. When looking to secure a private disability insurance policy, physicians find themselves struggling to get the correct information consistently! This is why we are going to address the best ways to review your policy before you purchase it. There are two ways a physician can go about comparing and contrasting their disability options.

Option 1

You can provide your information to each of the "Big 6" insurance companies and request a unique quote. When a doctor is looking for disability insurance, they should use only the “Big 6” companies that provide true own-occupation coverage. 

The “Big 6” insurance companies include: 

  • Principal 

  • Guardian

  • Mass Mutual  

  • Ameritas

  • Standard

  • Ohio National

When it comes to the “Big 6” companies, each company can have different options and definitions that may suit one individual better than another. You would need to make sure you are asking for the same riders for each policy so you can get everything apples to apples. Often times the same rider has a unique name at each insurance company. For more information on the “Big 6” and why they are so important, check our Beginners Guide to Disability Insurance for Doctors. 

Option 2

Reach out to an independent insurance broker. This is an insurance agent or agency who can offer quotes and policies from all 6 of the insurance companies and only collect your information once.

Most physicians find that with their limited free time, Option 2 is the way to go. Many independent brokers will be able to show you quotes for all of the companies, not all.

Not all independent brokers are equal, so you want to be sure to choose one that is not attached more closely to one insurance company than the others (making them biased), has the highest level of discounts available, and can help you easily compare and educate you on all of your options.

When you are ready to compare your "Big 6" disability insurance options, we can help. Simply complete your disability insurance quote request.

Most of the insurance information out there is complicated and inconsistent, leading you to have to waste time googling and sifting through information. Which is why we’ve created the Beginners Guide to Disability Insurance for Doctors. This guide will help you understand disability insurance and walk you through it, step by step everything you need to know, without confusing you with all of the insurance world jargon. If you are ready to stop wasting time researching and get all of the information to fully understand your disability insurance options in one place, download it here!