Percent More or Less than Average Premium
Policy Options from All of the Big Five Companies:
Unisex Policies Offered
*The information on this page is 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 consult with one of our advisors.
Wisconsin is a landlocked midwestern state with coastlines on 2 Great Lakes, with an interior filled by forests and farms. Milwaukee, the largest city, known for its numerous re-created international villages which house many museums including one that displays classic motorcycles owned by hog producer Harley Davidson who was born in this very town! Other attractions include beer breweries offering tours from large trucks or cars as well.
We all want to be able to retire comfortably, but if something happens that prevents us from doing so—well it’s nice know your finances will get fat in case of emergency. That's why I recommend getting a disability insurance policy from our guide on how! The most popular types are true own occupation (which pays benefits when you can't perform specialties), transitional occupations where employed elsewhere during periods between jobs as well and finally modified-own worksites which allows flexibility around performing duties at work due illness or injury.
As you read above, businesses are required to provide insurance to employees who work a certain number of hours in a week. As an active physician, you very likely meet those qualifications. While having health insurance through your employer can be both wonderfully convenient and a lifesaver, getting disability insurance through your employer is a completely different situation and should be avoided.
There are four major downsides to getting physician disability insurance through your employer:
Employer policies are not true own-occupation. In fact, most employer policies will have an any-occupation definition. This means that regardless of the severity of your disability, you’re only considered disabled if you can’t work in any occupation that you could reasonably be suited for based on education, training, or experience. Under an individual disability insurance policy you will collect your full insurance benefit and still be able to work somewhere else.
Employer policies are taxable. If you happen to become disabled and can’t work anymore, then any income you collect from your disability insurance will be taxed. This will leave you with considerably less than your current take-home pay and won’t be able to work anywhere else because of your any-occupation definition.
Employer policies are non-transferable. If you decide to move on from your current employer, you won’t be able to take your employer’s disability insurance policy you’ve paid into for 3 years. This would be different if you had individual disability insurance, which you will have regardless of the number of employers you have had over the years.
Your employer can cancel or change your policy at any time. When you get a disability insurance policy through your employer, they will have complete control over the policy. This means if your employer wants to modify or cancel your policy around when you get badly injured from a hill climb, you may not be able to collect any of the disability insurance benefits you’ve spent years paying for.
At Pattern, we’re dedicated to providing you with the expertise and resources needed to fully understand and obtain comprehensive physician disability insurance. For details on how Pattern can help you find the best policy for you, read our Beginner’s Guide to Physician Disability Insurance.