As a physician, you’ve dedicated years to your education and training, building a career that provides financial security for yourself and your family. But what if an illness or injury prevented you from working? Your ability to earn an income is your most valuable asset—and protecting it should be a top priority. That’s where disability insurance comes in for a doctor.
It ensures that even if you’re unable to work due to an illness or injury, you’ll continue to receive income to cover your expenses and financial obligations. Without it, a sudden disability could leave you struggling to pay off student loans, support your family, or maintain your lifestyle, even though you are a doctor.
This is not negotiable. Disability insurance is expensive. But, as long as you need a paycheck to cover your expenses (i.e. you are not financially free), you need disability insurance if you are a doctor. And you need the right kind.
This is where key resource, Pattern, comes in. Pattern specializes in helping physicians secure the best disability insurance—quickly and hassle-free. So, I’ve asked them to come share some of their expertise here!
Common misconceptions about needing disability insurance
Many doctors assume they don’t need disability insurance because they’re young, healthy, or covered by their employer. Here’s why that’s a risky assumption:
- Employer coverage isn’t enough – Most group disability policies only cover about 60% of your salary before taxes and often lack true own-occupation coverage, which is critical for physicians.
- Disabilities are more common than you think – More than 1 in 4 workers will experience a disability during their career.
- Waiting costs you more – Locking in a policy while you’re young and healthy ensures lower premiums and prevents coverage issues due to pre-existing conditions.
Key features to look for in a disability insurance policy as a doctor
Not all disability insurance policies are created equal. The right features and riders can make a significant difference in your coverage. Here are the most important ones:
- True Own-Occupation – Ensures you receive benefits if you’re unable to perform the specific duties of your medical specialty, even if you can work in another field.
- Residual Disability – Provides partial benefits if you can work but experience a loss of income due to a disability.
- Future Purchase Option – Allows you to increase your coverage later without needing a new medical exam, which is crucial as your income grows.
It’s equally important to review exclusions—certain conditions or situations that policies won’t cover—to ensure you fully understand the limitations of your policy.
When & how to buy disability insurance
The best time to buy disability insurance? Before you finish residency or fellowship.
Why?
- Lower premiums – Training discounts make policies significantly more affordable.
- Easier qualification – The younger and healthier you are, the better your chances of securing a policy with fewer exclusions.
- Employer policies aren’t enough – They often lack true own-occupation coverage and may not follow you if you change jobs.
Don’t wait until it’s too late—secure your policy while you still qualify for the best rates and coverage. Get started today: Get Your Free Quote from Pattern Now
Why work with a broker?
Disability insurance can be complicated, and not all policies are created equal. That’s why working with a broker is one of the smartest moves you can make.
- Brokers compare multiple carriers to find the best policy for your specific needs.
- They work for you, not the insurance companies, ensuring unbiased recommendations.
- There’s no extra cost to you—brokers are paid by the insurance companies, so you get expert guidance for free.
Pro Tip: Choosing the wrong policy can cost you thousands over the course of your career. Make sure you’re getting expert advice before making a decision. Start comparing your options today: Find the Best Disability Policy
An important caveat – GSI
If you have pre-existing medical conditions that may preclude you from qualifying for standard disability insurance, don’t apply for it. Even if someone suggests you should. Because once you are disqualified from one policy, it’s very difficult to impossible to get covered by another.
Instead, check out a Guaranteed Standard Issue Program (GSI) Disability Insurance Program. Usually offered through your employer, a GSI a valuable program that provides income protection for doctors without requiring medical underwriting.
This means that individuals with pre-existing medical conditions can obtain coverage up to $7,500 of monthly benefit (graduating residents and fellows) or up to $5000/month for all other residents and fellows, without undergoing the traditional medical underwriting process. GSI policies allow you to increase up to a maximum of $15k/month benefit. There are no medical questions asked. The policy is a personally-owned individual disability insurance policy that is portable, meaning you may take it with you throughout your career.
You will have the ability to increase it up to $15,000/month in the future without any medical questions.
More on GSI here…
Final thoughts: Protect your future now
As a physician, your ability to work is the foundation of your financial future. Without disability insurance, you’re leaving yourself exposed to unnecessary risk. Investing in a strong disability insurance policy today means peace of mind for you and financial security for your loved ones.
And even if you have a policy now, you need to review it to make sure that it is still adequately covering you!
Want to learn more? Watch a full breakdown from Pattern on YouTube: Watch Here
Have questions or need help choosing the right policy? Our team at Pattern specializes in helping physicians secure the best disability insurance—quickly and hassle-free. Get started today: Compare Plans Here
And here are some additional resources on the insurances that doctors need for appropriate coverage:
- What Types of Insurance Do Doctors Actually Need?
- The 7 Biggest Financial Enemies of Doctors
- When Should Doctors Get Life & Disability Insurance?
- Creating an Asset Protection Plan for Real Estate Investments
- Cover Your Assets: Umbrella Insurance for Physicians
What do you think? Do you have disability insurance as a doctor? Have you reviewed your policy to make sure it still is adequate for you? Do you need an update? Let me know in the comments below!
