Practicing Physicians – InsMed Insurance Agency

Practicing

Physicians

During your practice years, everything becomes bigger – your income, your possessions, and the importance of taking steps to protect your current lifestyle and retirement dreams. While many of the threats to your financial well-being will be addressed by the benefit packages of your employer, it’s important to evaluate just how protected you are and what steps you can take to reduce the impact of an unexpected event that could threaten you and the ones who depend on you.

How InsMed Practicing Physicians?

InsMed helps evaluate the impact of an accident and illness on a physician’s ability to:

Have enough money to meet their current obligations (and any ongoing loan obligations)
Have means to set aside money for your retirement years
Plan for the financial impact when student loan balances are discharged
Make sure financial obligations are settled and your loved ones have enough money in the event of your passing.
While several of these risks might be partially addressed by the benefits of an employer, it's imperative to review just what your employer protects and to what degree.

Are You an Eligible Practicing Physician?

At InsMed, we are here to help you evaluate your current level of protection and to help you identify and secure protection to reduce these threats to your well-being. Through these offerings, you can:

Insure income amounts and income sources not protected by your employer
Guarantee the right to continue protection if you leave your current employer (benefits are rarely portable)
Create funding to replicate your retirement plan contributions
Create funding for your tax obligations when loans are discharged
Provide your loved once with ongoing income in the event of your passing

To learn more about the steps you can take to better protect your financial wellness, call us at (800) 214-7039 or email us at [email protected].

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Practicing

Physicians

How InsMed Practicing Physicians?

Are You an Eligible Practicing Physician?

Want to see how protected you really are?
Try our House Staff Income Protection Calculator

Did you know?

Most employer provided long term disability coverage will require you to be out for as long as six consecutive months in order to qualify for benefits

Residents and fellows can forfeit their right to a teaching hospital’s “guaranteed issue” coverage if they apply elsewhere and are denied due to medical conditions

Medical underwriting can be waived when a practice purchases individual policies as part of its benefit package

Residents and fellows can insure 100% or more of their incomes during training

Voluntary offerings to large healthcare populations can be offered without medical underwriting and permanently discounted rates.

Contributions cannot be made into a qualified retirement account in the event of a disability

Rates and provisions of individual policies are guaranteed not to change until the age of 65. The same isn’t true for group or association coverage.

Some policies that insure student loan obligations require the insured to be out completely and not be expected to return to work ………ever.

Business overhead expense policies can cover hiring a locum tenens

The “guaranteed right” to increase the benefit amount of an individual policy will be reduced as you age.

Graduating physician who are entering practice can obtain coverage that’s greater than their actual earnings

Individual policies can be used to raise the income placement percentage and maximum monthly benefit for employed physicians and executives

Group insurance policies usually only protect base salary

If your employer provides you with long term disability coverage for free, any benefit amount provided during a claim will be taxed.

Group long term disability policies can be obtained by practices with fewer than 10 full time employees

The premiums paid by a practice owner for a policy that insures their ongoing business expenses is 100% tax deductible

Taking medication or seeking counseling to manage stress can affect your ability to secure coverage

Already a Policyholder?

Want to Stay Informed?

Looking for a Quote?

Sign Up for Our Newsletter

Practicing

Physicians

How InsMed Practicing Physicians?

Are You an Eligible Practicing Physician?

Want to see how protected you really are? Try our House Staff Income Protection Calculator

Did you know?

Most employer provided long term disability coverage will require you to be out for as long as six consecutive months in order to qualify for benefits

Residents and fellows can forfeit their right to a teaching hospital’s “guaranteed issue” coverage if they apply elsewhere and are denied due to medical conditions

Medical underwriting can be waived when a practice purchases individual policies as part of its benefit package

Residents and fellows can insure 100% or more of their incomes during training

Voluntary offerings to large healthcare populations can be offered without medical underwriting and permanently discounted rates.

Contributions cannot be made into a qualified retirement account in the event of a disability

Rates and provisions of individual policies are guaranteed not to change until the age of 65. The same isn’t true for group or association coverage.

Some policies that insure student loan obligations require the insured to be out completely and not be expected to return to work ………ever.

Business overhead expense policies can cover hiring a locum tenens

The “guaranteed right” to increase the benefit amount of an individual policy will be reduced as you age.

Graduating physician who are entering practice can obtain coverage that’s greater than their actual earnings

Individual policies can be used to raise the income placement percentage and maximum monthly benefit for employed physicians and executives

Group insurance policies usually only protect base salary

If your employer provides you with long term disability coverage for free, any benefit amount provided during a claim will be taxed.

Group long term disability policies can be obtained by practices with fewer than 10 full time employees

The premiums paid by a practice owner for a policy that insures their ongoing business expenses is 100% tax deductible

Taking medication or seeking counseling to manage stress can affect your ability to secure coverage

Already a Policyholder?

Want to Stay Informed?

Looking for a Quote?

Stay Informed

Want to see how protected you really are?
Try our House Staff Income Protection Calculator