Summary Of Maine Specific Policy Features*

Percent More or Less than Average Premium

Male: -0.79%

Female: 2.83%

Policy Options from All of the Big Six Companies:

Yes

Unisex Policies Offered

No

*The information on this page are accurate as of the date this page was created, September 2021.  Policies and discounts vary by individual circumstances. For information on your specific options, please console with one of our advisors.


Located in the New England region of the United States, Maine is the 12th smallest by area, 9th least-populated, and 13th least densely-populated state. As of 2021, Maine had a state population of only 1.34 million residents over 35,385 square miles of land and water.


Maine is often known for its long rocky and frigidly cold Atlantic Coast, and thus also for its surplus of quality lobsters and lighthouses. The small US state also has been regularly recognized for the quality of its health system and residents’ vegan living.


There are currently 2,315 active physicians in Maine working in several different specialty areas including:


  • Emergency medicine: 331

  • Psychiatry: 324

  • Surgery: 282

  • Anesthesiologists: 217

  • Radiology: 192

  • Cardiology: 127

  • Oncology: 72

  • Endocrinology, diabetes, and metabolism: 20

  • All other specialties: 750


How to Get Income Security

As an important factor for financial security, physician disability insurance is a type of insurance that provides income in the event that you are unable to work due to an injury or illness. Your disability could be from a long-term illness to a disabling accident, which either could take your career and financial stability.


There are two important things to keep in mind when looking for the best disability insurance policy for you: the term length and definition. For term lengths, there are 2 main forms of physician disability insurance: short-term and long-term. Short term disability insurance coverage begins 5–10 days after your disability, provides 3–6 months of coverage, replaces 60–80 percent of your monthly income, and covers non-life-threatening disabilities like back injuries, arthritis, and maternity leave.


Long-term disability insurance coverage begins 3–6 months, replaces 60% of your salary, covers you until you’re 65 years old, and covers a variety of catastrophic disabilities including:


  • Cancer

  • Mental health disorders

  • Vehicle accidents

  • Bone breaks

  • Musculoskeletal disorders


The second most important aspect of physician disability insurance is your disability definition. In order to qualify for disability insurance benefits, you have to meet the definition of disability that is outlined in your policy. The best and most comprehensive definition we recommend all physicians to get is true own-occupation, which we explain in Chapter 2 of our Guide to Disability Insurance. The reason the true own-occupation definition is the most comprehensive is because it pays you your full untaxed benefit amount if you can’t perform your specialty job duties, YET you’re still able to work elsewhere.


For example, say you’re a doctor in the oncology department of a clinic. If you become disabled and have true own-occupation disability insurance, you will be able to collect your full benefits, and still be able to work as a professor of oncology or any other job unrelated to your specialty.


How To Get Physician Disability Insurance

For doctors, the best way to get disability insurance is to work with Pattern. As an independent agency, we are only looking out for your best interests. Our goal is to provide you with the resources and expertise needed both to fully understand physician disability insurance, but also to find the best policy for you.


When you work with Pattern, we work with you to complete 3 simple steps:


  • Request your quotes: you fill out a quote request form, and we submit it to each of the Big 6 companies that offer physician disability insurance.

  • Compare your options: you review and compare your six quotes. Your Pattern support team will be there to guide you through the policies, answer your questions, provide examples, and make sure you have a clear understanding of each policy.

  • Apply and buy: after you’ve made a decision, we will help you complete and submit a short application. From there, we will handle the insurance paperwork and get your income insured.