Just as health care "sharing" has replaced health insurance for many, disability sharing ministries also exist. But it's not yet ready for prime-time in the physician disability space.
You should only insure against financial catastrophes. So how do you decide when your death or disability is no longer a catastrophe? It helps if you go back to the reasons you bought it in the first place.
Michael Relvas explains what it is like to sell life and disability insurance to WCI readers. Also tips for military docs and those looking to replace their policies.
Lawrence Keller, CLU, ChFC is an experienced insurance agent specializing in term life and disability insurance for physicians, dentists, and similar professionals. He is also a Platinum Sponsor of the 2016 WCI Scholarship. Here he discusses his business and industry.
While you may only ever have to purchase disability insurance once, there are some reasons to take a careful look at your policy every few years to see if it is still right for you.
Almost all doctors should buy term life and disability insurance for at least some portion of their careers, but very few should buy it from their professional associations.
Disability insurance is complex, but Larry Keller helps break it down and make it understandable. Recently, Principal has made their policies less attractive while Metlife, Berkshire, and Ameritas have made theirs more attractive.
[Editor's Note: This is a guest post from Lawrence B. Keller, CFP®, CLU®, ChFC®, RHU®, LUTCF, a frequent contributor and now an advertiser on the blog. This is Part 9 in his long-running series...
This is the third in a series on disability insurance. Part one can be found here and part two here. Disability insurance differs from life insurance in numerous ways, but none is more significant th...