What Physicians Need to Know About Long-Term Disability

While physicians and medical providers are entrusted with the care and recovery of their patients, they, too, are still susceptible to developing illnesses and sustaining serious injuries. In fact, roughly one out of seven doctors use their disability insurance — this means that in a hospital with 70 doctors, around 10 of them may need to use their insurance.

Being unable to work as a physician means being able to help others with your medical knowledge and receive income, which can have a significant impact on your financial security. As a result, long-term disability insurance for doctors is vital in the event a care provider experiences a catastrophic disability and is unable to work for a prolonged period of time. If you’re a doctor and interested in learning more about long-term disability insurance for physicians, here are some important facts you ought to know.

The Importance of Long-Term Disability Insurance for Physicians

While some believe that there isn’t anything serious enough in a hospital or medical environment to warrant a long-term disability claim, that is far from the case. Doctors and physicians can develop a variety of problems throughout the course of their careers that can result in long-term injury. For example, arthritis, back pain, and other musculoskeletal issues they might have can make it harder for them to provide care. It’s also worth noting that the long hours that doctors work can make them highly fatigued — making them more prone to accidental injuries that can lead to a long-term disability, like fractures and serious sprains after falling.

However, long-term disability insurance for doctors covers more than just physical health problems. Physicians, especially those working in busy and understaffed medical facilities, can become easily burnt out and mentally exhausted. Such working conditions can lead to and compound with mental health problems, which can end up having long recovery periods.

Buying Long-Term Disability Insurance for Doctors

When you buy a disability insurance policy, you will be able to receive benefits until you recover in place of your regular income. There are many policies available, with some insurance agents even offering discounts for doctors, so be on the lookout for those.

One type of policy that physicians should consider is residual disability, which allows you to obtain benefits even if your injury impacts a part of your job. This lets doctors with a partial disability continue their duties that are not completely affected by their injury or health problem. Doctors should also consider becoming a cost of living adjustment (COLA) rider, which raises their benefits each year to help them keep up with the rising costs of inflation.

Call an Attorney to Help Obtain Long-Term Disability Benefits

According to some sources, physicians have a 30% chance of missing out on their income because of an injury. This means that there are many doctors submitting long-term disability claims — but unfortunately, not all of them are approved. If your claim has been denied and you’re left without the benefits you need to remain financially secure, a long-term disability attorney can be a valuable asset. Navigating the complex world of insurance can be difficult, stressful, and time-consuming, which is why it’s best to have a reliable lawyer on your side who is proficient in long-term disability claims.

If your long-term disability insurance for doctors was denied, then reach out to the attorneys at RMS Law. Our skilled long-term disability lawyers are dedicated to using our years of experience in the industry to help physicians and other clients obtain their benefits. We also assist with personal injury cases as well, so don’t hesitate to contact us today for more information and to schedule a consultation.

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