If you are not financial independent you need to have a disability insurance policy in place. About one out of every five doctors over the course of their career uses a long-term disability policy. If you don't protect your income, what really is protected? It is really foundational to your financial plan. You need to have a policy in place that will replace a large portion of your income if you get disabled so you can continue moving forward with your plan. If you get disabled and you can't actually earn your income, then all of that effort you put into your financial plan goes out the window. I have been collecting disability questions from you for several weeks. I brought Matt Wiggins from Pattern Insurance www.whitecoatinvestor.com/pattern on this episode to help answer questions and give some additional information as an insurance agent. In this episode we talk about the three D's of disability insurance - definitions, discounts, and deadlines, pregnancy and disability insurance, the top insurance companies, how agents are paid, getting out of a bad policy, graded vs level premiums, and what riders may or may not be worth adding to your policy. If you don't have disability insurance you need to listen to this episode. If you aren't sure your policy is adequate, you need to listen. If you have a great policy in place, pass this episode on to a colleague, you probably know someone that needs the push to get this in place.
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