Do You Know Your Ideal Benefit Amount for Your Personalized Disability Insurance Policy?

4 minute read

If you're a physician and have been asking yourself "how much coverage do I really need?" the answer is now easier than ever. In this blog post, we'll cover all of your bases by explaining what exactly goes into picking out an appropriate disability insurance policy benefit amount for doctors like yourselves!

One question that often comes up during consultations or conversations with other healthcare professionals in regards to personal benefits plans at work has got to be: how much assurance does one actually require? There's no straightforward way around telling someone they should get certain levels when it comes down right protecting themselves but many physicians still find themselves wondering.

You want to be protected from the risks of life, but there are those who sell you too much and others that just won't let go. The last thing any individual wants is for their money to waste away on useless policies or leave them unprotected at a time when they need it most.

To put it simply, the younger you are the higher your need for disability insurance is because your liabilities are high and your assets not yet developed... Ideally the older you become, the lower your need for insurance is because you are self-insured with money in the bank.


The purpose of disability insurance is to protect and replace your income in the event that you cannot practice or do something because of physical or mental limitations. This protects those who are unable from losing everything they have accomplished.

Basically, your disability insurance policy will be replacing your income if you are no longer able to work and your benefit amount is the payment you will receive each month.

With that in mind, there are a few factors that go into determining your ideal benefit amount, your liabilities. These liabilities are:

  • Income

  • Assets

  • Debt

  • Dependents

  • Hobbies

When deciding on the need for insurance, there are a number of factors that should be considered. Let's break each one down and see how it affects your decision:

The factors in this list will help guide you through what type or level of coverage is right for your needs at any given time!


Income is the biggest determining factor when looking for your ideal benefit amount because it will replace what you earn. Your insurable income should be about 60-70% of gross earnings!


Disability benefits, like any other insurance coverage, can be an important investment for your future. It is always best to look at the whole picture and consider all options before making a decision that will affect not only yourself but those who depend on you as well.

When looking at disability insurance benefit amounts, it's important to take your savings into account. Your benefit period may be determined by the duration you would need in order for your benefits to last until you could rely on your savings. Typically this would be around your retirement age.


When you lose income due to disability - whether temporary or permanent – your debts do not go away. This is why important to calculate the payments on your debts. This can include school loans and car loans as well. Calculating this helps make sure that any debt will be covered even if you were to lose your income.


One really important factor that goes into deciding your benefit amount is dependents. Your point of a basic income guarantee isn't just so you can maintain yourself but also for those who rely on you, like family members or friends in need - this includes any children too! When thinking about how much an ideal benefit amount would look like, make sure to consider all these individuals as well.

Now that you understand your liabilities and how those influence the amount of insurance coverage available, let’s talk about what an “ideal benefit amount" might be. It's important when purchasing any type or level of insurance to be sure it fits well with both current needs as well as future plans for risk management - this includes different stages in your career (early vs more experienced as it relates to your income).

After filling out our simple form online - which takes less than 5 minutes! - We will gather your quotes from each provider separately with personalized information about coverage amounts based on your profile: age; income level, health status, etc., but also provide upfront pricing so that there're no surprises when comparing rates across different companies.

After you receive your quotes from the 6 own-occupation companies, we'll let you know what benefits are best for your needs.

If you would like to look into your personalized quote options you can fill out our quote request here to get your most accurate quote amounts!