Medical professionals review insurance policies for income protection. The policies stop the medical professionals from suffering losses at different stages of their careers. The coverage is available for residents and fellows who need adequate protection against possible disabilities. InsureStat is a comprehensive disability policy offered through a non-employer based provider.
Individual Income Protection
Practicing doctors need better individual income protection. Their income increases according to their specialization and new job positions they take on. The location in which they practice also plays a role in how much they earn. With higher than average incomes, the practicing doctors must avoid being underinsured. If they are underinsured, it is more likely that they will suffer more extensive financial losses if they are injured on the job.
Maximizing Your Coverage Level
Doctors that used to have an InsureStat policy can re-enroll to maximize their coverage levels. The changes in their income require the medical professionals to seek additional coverage. An employer-based disability plan won’t present the same coverage level as InsureStat. The policies provide medical professionals with their full salary throughout their recovery period. The employer-based programs are restricted to a predetermined duration.
Larger Bonuses for Partners
When medical professionals become partners, they receive larger bonuses based on their performance. If they sustain injuries, the likelihood of receiving bonuses is reduced. The disability policies provide the policyholder with the full value of their bonuses in addition to their salary. The coverage level stops major financial losses for the medical professionals.
Optimized Coverage for Practice Owners
Practice owners also need income protection to prevent losses. The policies encompass all tasks associated with the doctor’s specialization. Any activities that could lead to injuries are listed in the policy. Occupational hazards that apply to the doctor’s specialization also apply to the policy. The insurer provides a policy that is catered to meet the needs of all medical professionals.
Medical professionals start independent disability policies to protect themselves against income loss. The policies provide the professional’s entire income based on their monthly wages. The funds are available up to $20,000 per month. Medical professionals who need more information about the InsureStat policies can read this right now.