We live in a high-stress world. Diseases and chronic conditions are prevalent and accident risk is a daily reality. You see this every day in your practice; we see it when we handle client claims. Additionally, people are working harder and longer; this is even more true for physicians. This amplifies the risk.
Due to the nature of physician work, it is easier for them to suffer from mental and physical impairments that prevent them from practicing in their specialty on a full or part-time basis. Physicians possess rare cognitive and motor skills that allow them to earn higher incomes. This lifetime earnings potential is illustrated below. Practicing medicine is truly a physician’s greatest asset.
However, there are circumstances in which a physician may not need the coverage. If a physician retires early, hits the lottery, or for some other reason does not have to work, then disability insurance is not a necessity. Ultimately, the answer to the question is “physician disability insurance worth it?” is variable and personal. This is why experienced and impartial physician disability insurance brokers make it a point to review your personal situation in detail before recommending coverage.