A collection of insightful and informative articles from Myerson Wealth's “Recipes for Success” newsletter
If you could protect your investment portfolio from incurring a loss, would you? Of course, we all would, much like we’d purchase insurance on “the goose that laid the golden eggs” if we owned it. Now, what if that investment portfolio was you? The years and hard work you put into becoming a doctor may be one of the greatest personal investments you’ll ever make. Unfortunately, an insurance product that protects your portfolio may not exist, but the opportunity to secure your personal investment does, and it stands out as one of the most important financial products available for all doctors: Personal Disability Insurance.
While we sometimes think of ourselves as invincible, no one can predict the future. Disability insurance offers us a way to protect ourselves from that uncertainty. If an unforeseen event occurs and results in loss of income, your financial future may find itself on life-support. Disability insurance offers protection to generate income in case you’re unable to perform at your current level of productivity. With disability coverage in place, you’ve relieved that financial stress and can concentrate on bigger concerns, like a speedy recovery.
Here is another bonus that pays dividends for that personal investment you made in pursuing a career in medicine: Rather than enduring the arduous underwriting requirements many go through to obtain disability insurance, doctors in their residency programs are offered a benefit of up to $5,000 per month with no financial underwriting, as well as no medical exam (no blood or urine samples required!)! This program provides an opportunity to lock in that benefit at a set rate today and increase that benefit as income increases with no future medical underwriting! Without the hassle of suffering through a medical exam, and knowing you automatically receive up to a $5,000 per month benefit—no matter your current income in residency—you have no excuse not to lock in current premium rates. Protect your greatest personal investment: you.
Contact Myerson Wealth today for your free consultation.