Guest Post: Important Update Regarding Disability Insurance for Active Duty Military Doctors and Dentists
[Editor’s Note: This is a guest post/update from the company that was able to get me supplemental disability insurance (DI), which can be a challenge when you are Active Duty. I have no current financial relationship with them and they did not pay for this post, although in the past I received some restaurant gift cards when referring people to them. I asked them to provide it so they could explain recent changes in the disability insurance market for Active Duty personnel. If you want to read about DI, you can go to my Personal Finance page or some other posts like this one or this one.]
As you are likely aware, as a physician/dentist, your greatest asset is your ability to practice your specialty. Military physicians and dentists are not completely protected in the event they become disabled. Those who are informed of this risk exposure have been able to insure themselves by establishing individual disability insurance. Currently, there are two companies offering specialty specific coverage to military physicians/dentists; MassMutual and Lloyd’s of London. Of the two, MassMutual is the only one which offers a non-cancelable and guaranteed renewable policy to age 65. This type of policy cannot be canceled by the company, have its premiums and/or contractual provisions modified, exclusions added, etc. This is the type of policy we recommend to all physicians and dentists regardless of military status. MassMutual has eliminated this policy’s availability in all states except the following:
- California
- New York
- Florida
- Connecticut
- Montana
If you reside in one of these states and wish to protect yourself by obtaining the type of policy that will protect your medical career in the event of disability while you are in the military and while you are out, it is highly advisable to act now. To protect your medical career in the event of disability, please contact us below:
Andy G. Borgia, CLU (andyb@di4mds.com)
D.K. Unger (dku@di4mds.com)
10505 Sorrento Valley Rd., # 250
San Diego, California 92121
888-934-4637
858-523-7511 after 5pm
858-622-1883 fax
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