Services for Doctors Doctors are, by their very nature, long term investors. They spend years investing in themselves, through education and training, to allow themselves the opportunity to both serve a noble profession and earn significantly higher-than-average incomes. Doctors’ most valuable assets are their hands, their eyes, and their minds. Protection of these vital resources is essential for these professionals, and Disability Income insurance is one key safeguard that every doctor should own. Another reality of the medical profession is that many doctors acquire their credentials by assuming large amounts of debt to finance their expensive education and training. Basic life insurance protection can prevent those liabilities from becoming the problem of loved ones should an accident cause the doctor’s premature death. These two basic protections are not only vital to a medical professional’s financial health, but they must be properly executed in order to maximize both benefit and protection. Disability Income Insurance It is not enough to just have Disability Income Insurance. Many doctors get basic coverage as residents, when their salaries are lower and premiums are cheaper, and leave that same level of coverage in place for years. Adding proper riders to a policy as early as possible should allow for increased future protection as financial success increases over time. More advanced planning in this area can not only protect the doctor’s ability to practice medicine, but their ability to practice their chosen medical specialty as well. One example would be a dermatologist, having the right coverage in place, who experiences an accident that impairs their ability to practice dermatology. This doctor could receive disability income from the loss of their specialty and at the same time continue to practice medicine in other capacities. Some providers even have protection against mental disorders and/or substance abuse disorders, as well.Whether a first year resident or an accomplished medical practitioner, reviewing your coverage is essential. Life Insurance The best way to prevent student or other debt from plaguing your loved ones in the event of an untimely death is life insurance. If cost is a concern, term life insurance is basic inexpensive coverage that can be one solution to resolve any financial obligations of your estate and, in some cases, provide dependents with tax-free funds to help replace the loss of wages and pay end of life expenses. More sophisticated insurance solutions can also be used if you have already amassed significant financial assets, including mitigating the impact of estate taxes on the assets you wish to pass along to families, children, other loved ones, and philanthropic and academic bequeathments. A consultation to review your insurance is free of cost and could be some of the most valuable time you spend outside your family and professional obligations.