Summary

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of disability coverage for physicians, particularly focusing on how production pay impacts the ability to secure additional coverage. He explains the importance of guaranteed income, the role of tax returns in calculating coverage, and the nuances of underwriting individual situations. The conversation emphasizes the need for physicians to understand their income structure and how it affects their disability insurance options.

Chapters

(00:20) Welcome

(03:07) Factors Influencing Disability Coverage Calculations

(05:24) Navigating Underwriting and Individual Situations

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You've spent years of your life and hundreds of thousands of dollars to become a physician — this is the career that will give you and your family everything you've dreamed of! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of group long-term disability (LTD) insurance for physicians. He explains how group LTD coverage impacts the maximum amount of private specialty coverage a physician can obtain, emphasizing the importance of understanding the definitions and limitations of both types of insurance. The conversation highlights the challenges faced during claims processes and the potential pitfalls of relying solely on group LTD policies.

Chapters

(00:20) Welcome

(03:03) Impact of Group LTD on Private Coverage

(06:10) Navigating Claims: Group vs. Private Coverage

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You've spent years of your life and hundreds of thousands of dollars to become a physician — this is the career that will give you and your family everything you've dreamed of! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses how top insurance carriers calculate the maximum disability coverage available for physicians. He explains the importance of guaranteed salary, group long-term disability policies, and the need for regular updates to coverage as income changes. The conversation emphasizes the significance of understanding the calculation process to ensure physicians secure the maximum coverage they are eligible for based on their income.

Chapters

(00:20) Welcome

(03:03) Calculating Maximum Coverage Based on Income

(05:50) Importance of Regularly Updating Coverage

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You've spent years of your life and hundreds of thousands of dollars to become a physician — this is the career that will give you and your family everything you've dreamed of! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the concept of foreign travel exclusion in disability insurance, particularly for physicians with international backgrounds. He explains how this exclusion affects eligibility for benefits based on residency and travel, emphasizing the importance of understanding the nuances of insurance policies. The conversation also touches on the evolving nature of insurance coverage in a globalized world and the critical role of healthcare access in these decisions.

Chapters

(00:20) Welcome

(06:21) Navigating Insurance Nuances and Healthcare Access

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You've spent years of your life and hundreds of thousands of dollars to become a physician — this is the career that will give you and your family everything you've dreamed of! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the critical importance of disability insurance for physicians. He emphasizes that many physicians underestimate their risk of disability and the financial implications it can have on their lives. Gwaltney argues that even wealthy individuals, like Warren Buffett, recognize the value of insurance as a smart business decision to protect their most important asset—their ability to work. The conversation highlights the necessity of maintaining insurance coverage, even for those who are financially independent, to safeguard against unforeseen circumstances that could jeopardize their financial stability.

Chapters

(00:20) Welcome

00:15 The Importance of Disability Insurance

03:34 Understanding the Value of Insurance for Physicians

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You've spent years of your life and hundreds of thousands of dollars to become a physician — this is the career that will give you and your family everything you've dreamed of! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the importance of understanding coverage increase options for physicians, particularly those transitioning to attending status. He explains the Future Increase Option and the Benefit Increase Rider, detailing how they work, their requirements, and the significance of maintaining adequate coverage as income rises. The episode emphasizes the need for proactive management of disability insurance to ensure financial security and protection for physicians and their families.

Chapters

(00:20) Welcome

(02:59) Navigating the Future Increase Option

(04:20) Exploring the Benefit Increase Rider

(06:46) Importance of Coverage and Medical Screening

(08:15) Conclusion and Call to Action

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You've spent years of your life and hundreds of thousands of dollars to become a physician — this is the career that will give you and your family everything you've dreamed of! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the critical importance of understanding disability insurance for physicians. He emphasizes the pitfalls of relying on employer group long-term disability policies and highlights the advantages of private specialty coverage. The conversation covers the limitations of group policies, including adverse selection and broad definitions of disability, and stresses the need for physicians to be proactive in securing their financial future through proper insurance planning.

Chapters

(00:20) Welcome

(02:59) The Limitations of Employer Group Policies

(05:47) The Advantages of Private Specialty Coverage

(07:43) The Importance of Understanding Your Insurance

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You've spent years of your life and hundreds of thousands of dollars to become a physician — this is the career that will give you and your family everything you've dreamed of! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of disability insurance, particularly focusing on the benefit increase rider. He explains its significance, the consequences of not maintaining it, and shares a real-life example of a physician who faced challenges after losing coverage. The conversation emphasizes the importance of understanding insurance details and making informed decisions to ensure financial security.

Chapters

(00:20) Welcome

(00:49) Understanding the Benefit Increase Rider

(03:16) The Importance of Keeping the Rider

(06:36) Real-Life Consequences of Losing Coverage

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You've spent years of your life and hundreds of thousands of dollars to become a physician — this is the career that will give you and your family everything you've dreamed of! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.
If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.