Physicians are generally accustomed to working long hours in hectic environments. But what happens if an injury or illness impedes a physician’s ability to successfully earn a living? If a significant disability should result from these occurrences, the consequences can be devastating to both medical professionals, as well as their families.
That’s why physician disability insurance is essential. Without such coverage, physicians may find themselves unable to take care of even basic household expenditures. Medical fees related to much-needed treatment can also become quite burdensome, especially if these treatments are not covered by existing insurance.
Disability Statistics Can Be Startling
While other types of insurance are more common, the risk of a long-term disability is actually much higher. Studies show that 1 in 9 people between the ages of 21 and 65 will experience a disability due to illness or injury, while only 1 in 160 will suffer the loss of a vehicle as the result of an auto accident. These odds only increase as one gets older, with adults aged 35 through 65 facing a 1 in 7 chance of being disabled.
Protect Your Ability to Earn a Living
While no one even plans on being disabled in the long-term, it is unfortunately a very real possibility for many. Physician disability insurance can offer protections in the event of a serious disability, thereby allowing those who’ve so diligently cared for others to care for themselves during trying times.