I currently have a personal disability insurance policy with a post-tax benefit of $9000/mo. I got this from Larry Keller (great guy) who has been featured here. I obtained it my first month as an attending and I am almost 9 years post-residency and making more money now as a partner. I am an ED doc and my group is currently reviewing Long Term group disability insurance policies. My democratic group is looking at a policy that will give each of us $7500/mo of post-tax benefit. I am uncertain whether I should sign up for the group plan due to a couple concerns.
1. Isn't the max disability benefit you can get from all policies combined cannot exceed 60% of your income? Same for physicians?
2. I do have the guaranteed insurability insurance from my personal policy up to $2000. Should I just get this instead?
3. My wife is a part-time IM physician so she can help financially in case I get disabled.
Any thoughts appreciated.
1. Isn't the max disability benefit you can get from all policies combined cannot exceed 60% of your income? Same for physicians?
2. I do have the guaranteed insurability insurance from my personal policy up to $2000. Should I just get this instead?
3. My wife is a part-time IM physician so she can help financially in case I get disabled.
Any thoughts appreciated.
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