Gastroenterologists are some of the most highly-trained physicians; completing 6 years of postgraduate training. Some choose to sub-specialize further into hepatology. Disability insurance for gastroenterologists protects the income that is generated by the skills learned during training. Below are 4 key guidelines to follow when exploring disability insurance for gastroenterologists.
- Own Occupation Definition of Disability – It doesn’t take a lot to disable a gastroenterologist. It is critical that a gastroenterologist have an own occupation definition of disability so that the full disability benefit is received as long as he/she cannot practice gastroenterology.
- Partial/Residual Benefit – This pays a portion of the monthly benefit if able to practice gastroenterology on a part time basis. All claims either begin or end on a partial basis, so this benefit is critical.
- Non-Cancelable and Guaranteed Renewable – This ensures that the insurance company cannot raise rates or modify the policy in any way. Guaranteed renewable alone may be enough for gastroenterologists older than age 50.
- Recovery Benefit – This allows for benefits to continue beyond recovery if still suffering a loss of income. A long term disability can derail a gastroenterologist’s lifetime earnings potential, even though he/she is no longer medically disabled.
If you are a gastroenterologist or other physician in search of the most comprehensive and cost-effective disability insurance, contact us to review the disability insurance available to you.