Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Disability Insurance for Doctors and other Disability Insurance topics.
Your medical history may influence your ability to get physician disability insurance. Prior medical issues or lack thereof may also affect the rates you might be charged for doctor's disability insurance. You may qualify for the lowest available rates or be required to have a “rated” policy, with costs higher than you'd like. However, if you have less than a clean medical history, procuring a rated policy is still better than being deemed uninsurable.
Your practice and income are, over the long term, your most valuable asset. Just as you'd never neglect to insure your home, auto, etc., you should protect an asset even more important than those, with disability insurance for physicians. Regardless of your medical history, you should consider adding some features to your standard doctor disability insurance program.
Refer to your insurance policy contract for specific information regarding your coverage and for actual terms, conditions and exclusions. The above statements are general in nature and may or may not reflect the actual terms of your insurance policy.