Insurance Coverage Every Private Practice Needs

Posted on: June 27, 2018 by Chuck Krugh, CFP

When a physician transitions from practicing as an employee to owning or being a partner/shareholder in his or her own private practice, the financial picture changes. A lot. As an employee, you’re sheltered from having to protect the business entity. You just need to worry about yourself and your own family. Once you own a […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning Money Management Physician Money Management physicians disability insurance Practice Management Uncategorized

Why Doctors Need Disability Insurance – And Why Workers Comp Isn’t Enough

Posted on: March 9, 2018 by Chuck Krugh, CFP

It’s not just us saying it – Doctors should own long term disability insurance. And preferably they should have their own coverage, in addition to whatever coverage they receive from their employers. This is from a recent piece from Medical Economics: “Securing LTD coverage can be complicated, confusing and expensive. But insurance experts, advisers and […]

Posted in: disability claims Disability Insurance Doctor disability insurance physicians disability insurance workers comp

Details Matter: Doctors Should Own Their Own “Own Occupation” Disability Insurance.

Posted on: February 8, 2018 by Chuck Krugh, CFP

When it comes to protecting your income against the risk of injury or disability, having the right policy matters. As a physician, chances are good that your ability to earn an income hinges on your physical ability to do things like these: Remain on your feet for much of the day. Retain excellent manual dexterity. […]

Posted in: Disability Insurance Doctor disability insurance physicians disability insurance Uncategorized

Doctors: Don’t Count on Uncle Sam if You’re Disabled

Posted on: January 23, 2018 by Chuck Krugh, CFP

If you’re ever disabled, don’t be relying on the federal government for help. Federal disability benefits were never intended to cover more than very basic needs. The average Social Security Disability benefit is just $1,173 per month. And now it’s taking even longer to get approved. In prior years, it generally took an average of […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning Life Insurance physicians disability insurance

I have a pre-existing condition. Can I still get disability insurance?

Posted on: December 20, 2017 by Chuck Krugh, CFP

Disability insurance isn’t like major medical insurance post-Obamacare. While major medical carriers have to take all comers, regardless of their medical history (provided they apply during an open enrollment or special enrollment period), disability insurance is still medically underwritten. That means applicants must generally submit to a medical exam and a health records check for […]

Posted in: Disability Insurance Doctor disability insurance healthcare

What If You Lose a Partner or Key Person?

Posted on: October 10, 2017 by Chuck Krugh, CFP

This could happen to you: You are a successful physician in private practice, living your dream. You have a terrific bunch of partners, and a skilled and diligent office manager who keeps the whole practice humming along. But early one morning you get a call from distraught family member: There’s been an accident. Your key […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning physicians disability insurance Practice Management

Financial Tips for Young Doctors

Posted on: September 20, 2017 by Chuck Krugh, CFP

We’re always scouring the Web for good articles and studies about doctors and financial tips – and we were particularly pleased to come across this fine piece from Kevin Liu at KevinMD.com. Aiming his advice at young physicians who have just completed residency, or advanced fellowship training, and who are entering the attending physician phase […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning healthcare Life Insurance Long Tem Care Insurance Medical Residents Money Management Physician Money Management physicians disability insurance Practice Management Retirement

Why Doctors Should Consider Residual Disability Insurance Benefits

Posted on: August 8, 2017 by Chuck Krugh, CFP

Not all disabilities completely knock people out of the work force. In fact, many disabled individuals are able to eventually return to work, or continue to work in a limited setting. But their disabilities still result in a substantial hit to their earnings, compared to what they were earning before their disability onset. A residual […]

Posted in: Disability Insurance Doctor disability insurance physicians disability insurance

Disability Insurance Protection Critical for Women of Childbearing Age

Posted on: July 26, 2017 by Chuck Krugh, CFP

It’s not unusual to want to take some time off after having a baby. In some cases, you have no choice – medical complications are common after childbirth. But while employers with 50 employees or more are obligated under the Pregnancy Discrimination Act and Family Medical Leave Act to grant you time off to care […]

Posted in: disability claims Disability Insurance Doctor disability insurance Financial Planning healthcare physicians disability insurance

Is Your Disability Protection Up to the Job?

Posted on: June 22, 2017 by Chuck Krugh, CFP

Disability insurance is a critical component of a financial plan for most people – but especially for physicians. This is because doctors, dentists and other similarly-situated professionals generally have huge sums of money invested in education, need to be in reasonably good health in order to discharge their day-to-day duties in a clinical setting, and […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning physicians disability insurance