New higher issue limits for physicians of up to $20,000/month tax free! Physicians graduating medical training can now get up to $7,500/month tax free


Whether you are in Emergency Medicine, Orthopedic Surgery, Anesthesiology, Cardiology, Radiology, Dermatology, Urology, Gastroenterology, General Surgery, OBGYN, Dentist, or other medical specialty, we can customize a own occupation disability insurance plan for you.

Most physicians have insurance coverage on their homes and autos. But if their future earnings cease because of an accident, injury or illness, the loss of income could present serious financial problems. A solution? An own occupation disability income insurance policy which protects a physician in his/her specialty.

At Physician Financial and Insurance Services, we have a dedicated a web site, Disability For Physicians which provides information on disability insurance plans for doctors. We have been working with members of the medical community since 1993 and have a unique understanding of physicians' needs, rotations, schedules and preferences. We'll work with you to design an own occupation disability insurance plan specifically tailored to your unique situation. As an independent broker, we work with multiple insurance companies to create a physician disability insurance plan that is best suited for your specialty.


As a physician, one of the most important policy features to have in your disability contract is an own-occupation definition of disability. Simply stated, this means that if you are unable to work in your specialty due to an injury, accident or illness the policy will pay you a benefit, even if you choose to work in another occupation. For example, if you get injured and can no longer practice as an Orthopedic Surgeon, the policy will pay you a benefit even if you can earn an income in another specialty or occupation.

The own occupation definition of total disability in an individual disability insurance plan varies greatly from the less comprehensive group (employer, hospital) and association disability insurance plans.  Many of those plans indicate that you must not only be disabled from your occupation, but unable to work in any gainful occupation.


Insurance companies have different rates and policy features for different occupational classes. As a physician, your specialty will determine what occupational class you are in.


Many physicians are offered group disability insurance by their employer. Here are some things to consider:

Group plans may be, amended, changed or terminated at any time. This could leave you without coverage when you need it.

Most group plans can't be taken with you if you should decide to switch employers.

Most group plan benefits are taxable.

Many group disability plans have a restrictive definition of disability. They require you to be totally disabled before they will pay a benefit. In other words, if you have the ability to do any type of work, benefits may not be payable.


If you are a physician who owns your own practice, you may want to consider disability overhead expense. If you were to become disabled, this policy can provide funds to help cover ongoing expenses such as rent, equpiment leases, employee's salaries, utilities in order to keep the practice open during the period of disability. Few medical practices could survive if the doctor is not generating new revenue. In a very short time, the practice will either shut down or have to be sold. An overhead expense policy is made to give you the ability to cover expenses while on a disability claim and come back to an existing practice when you're able to.


Worker's Compensation only covers job related sickness or injury. In addition, these benefits are limited.


Qualifying for Social Security benefits is very difficult because the disability must prevent you from doing any kind of work - not just your usual job.

If you become disabled, who would you turn to for financial assistance? Would family or friends be willing to help you out? Do you think a bank would want to give a loan to a disabled person with no income and no guarantees of being able to repay?