Cover Your Assets Podcast with Billy Gwaltney: Recent Episodes
Billy Gwaltney
Don’t let accidents, illness, or injury destroy your hard work. 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.
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 C.Y.A. Podcast, Billy Gwaltney shows you exactly what you need to do to protect your income and your way of life.
In this episode, Billy Gwaltney breaks down the essential details physicians and medical trainees should understand about securing disability insurance discounts, including grace periods, medical considerations, and tips for locking in rates early.
Key topics
The importance of securing disability insurance coverage before or shortly after graduation
The four top-tier carriers offering trainee discounts: Mass Mutual, Guardian, Principal, and Ameritas
Grace periods: 90 days for Mass Mutual and Guardian; 180 days for Principal and Ameritas
How health and moving during the grace period can impact your rates
Strategies for starting coverage at lower amounts and scaling later
Why it’s crucial to act promptly to secure discounts and maintain favorable rates
Additional resources and ways to connect for personalized advice
Chapters
00:19 - Welcome
00:46 - The top four carriers offering trainee discounts
01:16 - Details of the 90-day grace period for Mass Mutual and Guardian
01:44 - Understanding the 180-day grace period for Principal and Ameritas
02:40 - How to lock in your discount and maintain it forever
03:07 - Starting coverage at lower amounts and scaling up later
03:37 - How to discuss your specific situation and get personalized advice
04:27 - Connecting with Billy Gwaltney for questions and further assistance
04:56 - Closing remarks and contact information
In this episode of Cover Your Assets, disability insurance specialist Billy Gwaltney addresses whether physicians should prioritize paying down debt or increasing private disability coverage. He emphasizes the importance of having adequate insurance before debt repayment, especially for physicians facing high student loans and career uncertainties.
Key topics
Importance of disability insurance for physicians
Risks of relying on employer policies
Timing of insurance purchase relative to debt payoff
Balancing debt repayment with insurance coverage
Chapters
00:20 Welcome
00:15 Debt vs. Disability Coverage: The Dilemma
02:37 The Importance of Insurance in Financial Planning
04:54 Final Thoughts on Disability Coverage
In this episode of Cover Your Assets, host Billy Gwaltney discusses the critical importance of choosing the right disability insurance broker to avoid becoming an 'orphaned' policyholder. He emphasizes the risks of working with inexperienced agents and shares insights on how to ensure ongoing support and claims assistance.
Chapters
00:20 Welcome
02:04 The Importance of a Reliable Broker
04:53 Navigating Claims and the Role of Advocacy
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 of Cover Your Assets, host Billy Gwaltney clarifies how disability insurance rates are determined, why they vary between brokers, and how to ensure you're getting the best coverage without overpaying. Physician listeners will learn what to look for in policies and how to compare offers effectively.
Chapters
00:20 Welcome
02:36 The Importance of Coverage Details
03:58 Avoiding Common Pitfalls in Insurance Quotes
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 Cover Your Assets, Billy Gwaltney addresses whether residents and fellows should wait until graduation to purchase guaranteed standard issue disability insurance. He covers the benefits, timing, and strategic considerations for securing disability coverage during training using his expertise in disability insurance.
Chapters
(00:20) Welcome
(03:04) The Importance of Securing Coverage Early
(05:54) Navigating the Risks of Waiting for 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.
On this episode of the Cover Your Assets podcast, Billy Gwaltney dives into a crucial topic for medical professionals: the eligibility rules for Ameritas GSI, or Guaranteed Standard Issue, disability insurance for residents and fellows. If you’re a physician in training, knowing the nuances of this insurance can provide the financial security you need. In this episode, Billy uses his expertise in disability insurance to break down the key eligibility requirements and tips to avoid common pitfalls.
Keywords
Disability Insurance, Ameritas GSI, Medical Residency, Physician Coverage, Fellows
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.
On this episode of the Cover Your Assets podcast, Billy Gwaltney explores critical financial strategies for physicians, focusing on an often-overlooked topic: the knockout questions related to missed work when applying for Guardian's Guaranteed Standard Issue (GSI) disability insurance. As a disability insurance specialist, Billy breaks down the crucial aspects of GSI, including what you need to know to safeguard your coverage.
Keywords
Disability Insurance, Guardian GSI, Medical Residency, Physician Coverage, Insurance Eligibility
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.
This episode of Cover Your Assets with your host Billy Gwaltney explores the eligibility rules for Guardian's Guaranteed Standard Issue (GSI) Disability Insurance for residents and fellows, clarifying common misconceptions and providing practical guidance.
Chapters:
(00:20) Welcome
(00:25 Understanding Guardian's Guaranteed Standard Issue (GSI) Disability Insurance
(03:42) Eligibility Criteria for GSI Disability Insurance
(06:33) Navigating the GSI Application Process
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, Billy Gwaltney delves into the complexities of disability benefits, focusing on the implications of having insufficient coverage when faced with disability. It highlights the importance of understanding policy features such as cost of living adjustments and the limitations that come into play once a person becomes disabled.
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, Billy Gwaltney discusses the intricacies of insurance coverage during claims, particularly focusing on the limitations of increasing coverage based on salary changes. He explains the formula used by companies to determine eligibility for coverage and the stipulations surrounding benefit increase riders.
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, Billy Gwaltney discusses the implications of canceling a disability insurance policy, emphasizing that while it is possible to cancel, it is not advisable. He highlights the importance of maintaining such coverage for financial security in case of disability, arguing that the money saved from canceling is often not invested wisely and may not provide the same level of protection as the insurance policy itself.
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, Billy Gwaltney explores the concept of terminal illness riders in life insurance policies, detailing how they allow policyholders to access a portion of their death benefits while still alive. The discussion highlights the benefits of having such a rider, including the potential tax implications and the conditions under which these benefits can be accessed.
Chapters:
(00:20) Welcome
(00:44) The Importance of the Terminal Illness Rider
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, Billy Gwaltney discusses the intricacies of insurance coverage during claims, particularly focusing on the limitations of increasing coverage based on salary changes. He explains the formula used by companies to determine eligibility for coverage and the stipulations surrounding benefit increase riders.
Chapters:
(00:20) Welcome
(00:51) Understanding the Term Life Insurance Market
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, Billy Gwaltney discusses the various insurance coverage options available for residents, emphasizing the benefits of starting with lower coverage amounts. He explains how residents can secure significant benefits and privileges even with minimal initial coverage, making it a financially savvy choice as they transition into their attending roles.
(00:20) Welcome
(00:49) Navigating Insurance Carrier Options and Riders
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, Billy Gwaltney discusses the emotional and financial challenges faced by individuals who become disabled. He emphasizes the importance of having a solid financial plan in place to support families during difficult times, highlighting the need for contingency planning and the emotional toll of realizing one's disability.
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, Billy Gwaltney walks you through your quote email for Ameritas Guaranteed Standard Issue (GSI). Throughout, he discusses the top tier carriers in the insurance industry, focusing on their unique benefits, including non-cancelable policies, guaranteed renewability, and the absence of medical screening. He emphasizes the importance of understanding these offerings for better financial security and coverage options. The Ameritas GSI Disability Coverage represents a valuable opportunity for trainees and physicians seeking to protect their financial future. With no medical questions, flexible coverage options, and extensive benefits tailored for the medical profession, it offers peace of mind that is difficult to find elsewhere. If you are a physician in training, consider taking advantage of this opportunity.
Chapters
(00:20) Welcome
(00:14) Key Benefits of the Coverage
(00:44) Application Process and Broker Role
(04:00) This requires no medical screening
(04:11) Discounted rates
(06:21) GSI
(06:40) The best discounts and definitions
(12:00) Next steps
(12:37) PS: Apply for this GSI before applying elsewhere
In this episode of the Cover Your Assets podcast, Billy Gwaltney walks you through the Guaranteed Standard Issue (GSI) quote spreadsheet. He explains the eligibility criteria, the benefits of securing coverage early, and the various options available, including premium structures and key definitions of disability. Gwaltney emphasizes the role of brokers in navigating the complexities of insurance and ensuring that physicians receive the best possible coverage without unnecessary medical screenings.
Chapters
(00:20) Welcome
(02:58) Understanding Guaranteed Standard Issue Coverage
(05:45) Navigating Medical Screening and Eligibility
(08:35) Exploring Coverage Options and Premiums
(11:41) Key Definitions and Benefits of Coverage
(14:51) The Role of Brokers in Securing Coverage
(17:44) Conclusion and Next Steps
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 reviews the quote spread with Benefit Increase Rider (BIR). He emphasizes the importance of understanding the details of coverage, the key carriers available, and the various benefits that can be included in a policy. The conversation covers essential topics such as the definition of disability, the benefit increase rider, residual and recovery benefits, and the unique perks offered by different insurance carriers. Gwaltney also highlights the significance of having a knowledgeable broker to navigate the complexities of the claims process and ensure that physicians receive the coverage they need to protect their financial future.
Chapters
(00:20) Welcome
(00:15) Understanding the Spreadsheet and Key Carriers
(02:30) Key Points of Disability Coverage
(06:23) Defining Disability and Its Importance
(10:40) Benefit Increase Rider Explained
(15:15) Enhanced Residual and Recovery Benefits
(19:37) Psychiatric Benefits and Unique Offerings
(22:46) Cost of Living Adjustments and Premiums
(25:28) Streamlined Medical Screening Process
(26:51) The Role of the Broker in Disability Insurance
(29:37) Conclusion and Further Discussion
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 presumptive disability benefit, a crucial aspect of private specialty disability coverage for physicians. He explains how this benefit is automatically included in policies from top carriers and outlines the conditions under which a physician would be considered totally disabled. Real-life examples illustrate the importance of understanding this benefit, emphasizing its role in providing financial security for physicians facing unexpected health challenges.
Chapters
(00:20) Welcome
(02:58) Real-Life Applications of Presumptive Benefits
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 medical records when applying for specialty disability coverage. He shares a real-life example of a physician's experience with the insurance underwriting process, emphasizing the need for accurate disclosure of medical history and the potential implications of miscommunication. The conversation highlights the role of insurance brokers, the nuances of HIPAA regulations, and the importance of being forthcoming with medical information to ensure a smooth application process.
Chapters
(00:20) Welcome
(03:26) The Importance of Accurate Disclosure in Applications
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 benefit increase rider in disability insurance policies for physicians. He explains how this rider allows for increased coverage without redoing medical screenings, the importance of regular income updates, and the limitations regarding age and eligibility for increases. The conversation emphasizes the need for physicians to stay informed about their policies to ensure adequate coverage throughout their careers.
Chapters
(00:20) Welcome
(00:15) Understanding the Benefit Increase Rider
(01:15) Importance of Regular Income Updates
(02:43) Limitations and Expiration of the Rider
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.
Summary
In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of disability insurance, focusing on the differences between private policies and employer group long-term disability (LTD) policies. He explains how physicians can collect from both types of policies if they meet the definitions of disability, but emphasizes that private coverage is generally more reliable. The conversation also touches on the challenges faced by clients when navigating claims and the importance of understanding the details of their coverage.
Chapters
(00:20) Welcome
(03:01) Navigating Claims: Private vs. Group LTD Policies
(05:49) The Importance of Proper Coverage
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.
In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the critical differences between disability insurance and health insurance claims, particularly for physicians. He emphasizes the importance of choosing the right insurance carrier and understanding the claims process, highlighting that the majority of claims are approved when handled correctly. Gwaltney shares insights on the four top carriers for specialty coverage and the significance of having the right definitions in insurance contracts to ensure financial security for physicians.
Chapters
(00:20) Welcome
(03:03) Understanding the Claims Process
(05:55) Choosing the Right Insurance Carrier
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 private specialty disability coverage for physicians, particularly focusing on how and when they can increase their coverage after graduation. The conversation highlights the importance of understanding insurance guidelines, the relationship between attending salary and coverage amounts, and the necessity of timely adjustments to ensure adequate protection against potential disabilities.
Chapters
(00:20) Welcome
(03:04) Navigating Coverage Increases After Graduation
(05:49) Importance of Timely Coverage Adjustments
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 differences between group disability policies offered through associations and private specialty coverage. He emphasizes the importance of understanding the gaps in association policies, including definitions of disability, control over the policy, and the significance of individual coverage. The conversation highlights the potential pitfalls of relying on association policies and the benefits of securing a private policy for long-term financial security.
Chapters:
(00:20) Welcome
(03:12) Key Differences Between Private and Association Policies
(07:04) The Importance of Individual 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 significant gaps in the AMA disability policy that physicians should be aware of. He outlines five key elements that highlight the shortcomings of the policy, emphasizing the importance of understanding the details of disability insurance. The conversation serves as a cautionary tale for physicians considering the AMA policy, urging them to be vigilant and informed about their insurance choices.
Chapters:
(00:20) Welcome
(07:15) Key Gaps in 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 intricacies of selecting a graded premium policy for private specialty disability coverage. He explains the differences between graded and level premiums, emphasizing the long-term financial implications of each choice. The conversation highlights the importance of understanding the terms of disability insurance policies, especially for physicians, and provides insights into when a graded premium might be a viable option. Billy also addresses the common misconception that lower initial premiums equate to better deals, urging listeners to consider the long-term costs associated with graded premiums.
(00:20) Welcome
(00:46) Understanding Graded vs. Level Premiums
(04:15) Long-Term Financial Planning with Premiums
(06:37) When Graded Premiums Make Sense
(08:29) The Importance of Disability Insurance for Wealthy Individuals
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 question of whether physicians should opt out of their employer's group long-term disability (LTD) policy. Billy explains the differences between group LTD and private specialty disability coverage, emphasizing the importance of having a well-structured private policy that offers better definitions and benefits. He highlights the potential pitfalls of group policies, including adverse selection and watered-down definitions of disability, and encourages physicians to make informed decisions about their insurance options.
Highlights:
(02:56) The Importance of Specialty Coverage
(04:42) Making Informed Decisions on Disability 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.
Ever wondered what happens to your disability policy if your income increases in the future? In this episode of the Cover Your Assets Podcast, host Billy Gwaltney tackles this common question for physicians and other high-income professionals.
Through his expertise as an independent broker, Billy explores the intricacies of adjusting your private specialty occupation disability coverage as your salary grows. With insightful explanations and practical advice, you'll understand how to keep your financial safety net robust as your career progresses.
Episode Highlights:
- Explanation of future increase options and benefit increase riders. (02:06)
- Insurance companies' calculations for coverage amounts and potential caps. (03:39)
- The critical need for proactively increasing your coverage; and what happens if you don’t. (05:38)
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.
Host Billy Gwaltney dives into the crucial topic of disability policies and how they are impacted when your income changes in this episode of Cover Your Assets. As a vital piece of security for many professionals, understanding the mechanics of these policies can save you from a potential financial pitfall. Billy breaks down the importance of non-cancelable and guaranteed renewable policies and provides clear guidance on managing your coverage amidst income fluctuations.
Explore the finer details of maintaining optimal protection, even when life throws a curveball.
Episode Highlights:
-
- What non-cancelable and guaranteed renewable means for your disability policy. (04:44)
- How increased coverage works with future income reductions. (02:30)
- The flexibility of reducing your coverage and premium. (04:50)
- Personalized advice for managing your disability policy effectively. (05:59) 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.
Take a deep dive with host Billy Gwaltney into the often-overlooked yet vital aspect of a robust specialty disability policy: the recovery benefit. Designed to continue providing support even after you medically recover, this benefit could mean the difference between financial stability and strain as you get back on your feet.
In this episode of Cover Your Assets, Billy outlines the key reasons why this benefit is indispensable, especially for physicians at their income peak, breaking down complex concepts into easily digestible insights. Tune in to learn why a well-crafted disability policy is like a three-legged stool and how missing out on the recovery benefit could leave you unbalanced.
Episode Highlights:
- Three primary elements of a comprehensive disability policy. (01:25)
- Real-life scenarios of how medical professionals, like pediatricians and surgeons, are impacted by the recovery benefit.(02:27)
- Why group long-term disability and association policies fall short without a recovery benefit. (04:59)
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 Cover Your Assets, host Billy Gwaltney explains the crucial elements of a well-structured disability policy, focusing on the often-misunderstood Enhanced Residual Benefit. Billy explores why this benefit is a non-negotiable part of any physician's robust disability insurance plan. Tune in to grasp the importance of this coverage and learn how it can protect you from financial instability if you can only work part-time due to illness or injury.
Episode Highlights:
- Three non-negotiable elements of disability policies. (01:17)
- Real-world cases illustrating the necessity of the benefit for part-time work scenarios. (04:32)
- Common pitfalls to watch out for in association and group long-term disability policies. (05:43)
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.
There IS a significant difference between working with a disability insurance specialist and a general financial planner when it comes to your financial security. As a seasoned specialist working with physicians across the country, Cover Your Assets host Billy Gwaltney provides valuable insights into why choosing a broker with in-depth expertise in disability coverage can make all the difference in your financial planning. Through relatable analogies and practical advice, Billy clarifies the distinctions between generalists and specialists in the insurance world. Learn why the devil is in the details when it comes to designing your disability insurance policy and how to safeguard your financial future with the right broker.
Episode Highlights:
- The value of working with a specialist who has extensive experience in disability coverage. (02:13)
- An explanation of rate increase scenarios and how they affect policyholders. (02:57)
- Three crucial elements of an ideal disability insurance policy to ensure comprehensive coverage. (05:06)
- Real stories where Billy has intervened to resolve claims issues and ensure clients received their rightful benefits. (09:21)
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.
Do you have to pay an extra fee to work with a broker? Spoiler alert: The answer might surprise you. In this episode of Cover Your Assets, host Billy Gwaltney breaks down how broker commissions are structured within insurance premiums and the value that a dedicated broker can bring to the table. Whether you're in the early stages of your career or an established professional, understanding this aspect of your coverage can provide peace of mind and financial clarity.
Episode Highlights:
- How broker commissions are structured. (01:14)
- The role of a broker and the continuous, long-term support they provide. (02:39)
- Advice for ensuring you're working with a competent broker who earns their commission. (03:43)
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.
Have you ever wondered what the terms "noncancelable" and "guaranteed renewable" really mean in the world of insurance?
Billy Gwaltney breaks down the importance of these terms and why they should matter to you. With his rich experience as an independent broker for the top four carriers, he ensures that these policies have no gaps or gotcha clauses.
Discover how noncancelable and guaranteed renewable policies protect you, offering you peace of mind and stability. Understand why these features are essential and what exceptions you need to be aware of when choosing your policy.
Episode Highlights:
- Definition and significance of noncancelable and guaranteed renewable policies. (00:51)
- Explanation of the three key elements: policy cancellation, terms change, and rate increase. (01:33)
- Pros and cons of guaranteed renewable-only policies and important considerations. (02:36)
- Billy's invitation for a personal consultation and contact information for further questions. (03:18)
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.
Expert Billy Gwaltney delves deep into the often-misunderstood term "guaranteed renewable only" and what it means for your private specialty disability coverage. If you're a physician navigating the nuances of insurance policies, this episode is a must-listen. Billy breaks down the differences between non-cancelable and guaranteed renewable policies, highlighting important factors such as rates, state regulations, and the implications for policyholders.
Learn how choosing a "guaranteed renewable only" policy could offer substantial discounts and understand the trade-offs involved. With real-world examples and expert insights, this episode provides crucial information to help you make informed decisions about your insurance options.
Episode Highlights:
- The significant cost savings with "guaranteed renewable only" policies. (01:59)
- An explanation of rate increase scenarios and how they affect policyholders. (02:57)
- How adverse selection impacts insurance companies and policyholders alike. (03:45)
- Insights into why top carriers, like Emeritus, have maintained stable rates for decades. (04:22)
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.
Have you ever wondered how a change in medical specialty can affect your private disability policy?
In this illuminating episode of the Cover Your Assets podcast, host Billy Gwaltney dives deep into the nuances of specialty disability policies and how they adapt to your evolving medical career. Whether you’re a resident just starting out or an experienced professional considering a switch, understanding your policy is crucial. Billy provides expert insight into why your initial specialty matters and how the right policy can offer seamless coverage as you progress.
Tune in to learn how to secure your financial future, no matter where your medical journey takes you. Ensure your policy evolves with your career, covering everything from fellowship transitions to unexpected changes in job roles.
Episode Highlights:
- Why your specialty impacts the rate you pay for your disability policy. (02:37)
- How your policy adapts to changes in your medical career. (03:50)
- Dual Benefits: Coverage for new roles without penalizing future earnings (05:46)
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.
Welcome to the first session of the Cover Your Assets educational series on financial planning, where host Billy Gwaltney delves deep into financial mindsets with experts John Navin and Kyle Christensen.
Discover the diverse approaches to financial planning, encompassing both traditional and non-traditional strategies, directly from seasoned professionals. Whether you're an experienced investor or just starting out, this episode aims to empower you with the knowledge to make informed financial decisions.
Get ready to explore a series that will fundamentally change your perception of financial planning.
Episode Highlights:
- Understanding Traditional vs. Non-Traditional Financial Planning: John Navin discusses conventional strategies and Kyle Christensen introduces alternative investment ideas. (12:30)
- Emphasizing Education in Financial Planning: Kyle shares how empowering clients with knowledge is central to his approach. (20:45)
- Real-life Examples: Learn about a pharmacist who increased income significantly through business investment and how professionals can leverage their expertise. (32:05)
- Critique of the Financial Industry: Both guests critique the pitfalls of the financial advisory industry and stress the need for personalized, diligent financial planning. (45:10)
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.
Host Billy Gwaltney delves into the intricate world of financial tools and strategies with guests John Navin and Kyle Christensen on this episode of Cover Your Assets.
Through a series of enlightening discussions, they uncover the critical aspects of financial planning, addressing common mistakes and underexplored opportunities that professionals, especially those in high-risk careers like medicine, must consider. From the fundamentals of car insurance to the nuances of student loan repayment, this episode is packed with actionable insights designed to fortify your financial future and mitigate risks.
Join them as they probe into the strategies that will not only cover your assets but also ensure substantial growth and security in an ever-evolving economic landscape.
Episode Highlights:
- John Navin discusses optimal car insurance coverage amounts and common planning mistakes. (10:25)
- Kyle Christensen emphasizes the importance of a personal liability umbrella policy with at least a million dollars in coverage. (18:45)
- Billy Gwaltney explores principles of investing, stressing the importance of control and understanding in financial decisions. (34:15)
- Insightful conversation on student loan challenges, featuring practical tips on leveraging current income-driven repayment plans. (47:05)
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.
What really keeps your financial future secure: strategy or principles? In the final session of this enlightening educational series, host Billy Gwaltney dives deep into the essential and often overlooked world of risk management and asset protection with guests Kyle Christensen and John Navin.
Together, they explore the intricate balance between traditional and principles-based approaches to safeguarding your financial assets. Both Christensen and Navin reveal the startling reality that many clients, including high-earning professionals, are grossly underinsured, sharing personal anecdotes to underscore the critical importance of early and adequate coverage.
Don't miss this engaging discussion filled with actionable insights, tips on optimal insurance strategies, and a holistic view on financial planning designed to help you secure and maximize your assets.
Episode Highlights:
- Kyle Christensen discusses the limitations in purchasing insurance and explains the principle of indemnity. (07:12)
- Billy Gwaltney shares a cautionary tale about a surgeon who unexpectedly needed long-term care due to early-onset Alzheimer's. (15:34)
- John Navin introduces the DIME formula for determining life insurance coverage needs and elaborates on his personal experience with health and life insurance costs. (28:49)
- A deep dive into the comparison of term versus whole life insurance, and Kyle Christensen’s compelling analogy between renting and owning life insurance. (45:02)
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 Cover Your Assets, host Billy Gwaltney dives deep into the intricate balance between financial goals and personal values with guests and financial planners Kyle Christensen and John Navin.
Kyle shares why he avoids using the term "retirement," preferring "financial freedom" as a more empowering goal, while John introduces his "freedom number" concept for a joyful life beyond just escaping a job. Together, they explore the unique financial challenges faced by medical professionals transitioning from training roles to high-earning attending positions and offer actionable strategies for building financial independence.
This episode empowers listeners to rethink their financial future with purpose-driven decisions and smart investment choices.
Episode Highlights:
- Kyle Christensen explains the concept of financial freedom and stresses the importance of understanding what you want to do once you achieve it. (08:15)
- John Navin introduces his "freedom number" and discusses why planning for a joyful life is more than just escaping a job. (16:45)
- John Navin details his diversified investment strategy, outlining different investment "buckets" based on time horizons. (32:00)
- Kyle Christensen critiques financial institutions and emphasizes the significance of investing in what you know and can control. (33:50)
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.
What does true dedication to client care look like in private specialty, own occupation, disability coverage?
Join Cover Your Assets host Billy Gwaltney as he unveils his unwavering commitment to providing top-tier service for physicians. From securing the best coverage to ensuring a streamlined process, Billy's promise to his clients is unparalleled. Discover the benefits of working with a dedicated specialist who offers personalized, concierge-level care.
Episode Highlights:
- Billy’s goal: Being the best in private specialty disability coverage. (01:00)
- Overview of the essential coverage components, including the true specialty own occupation definition and enhanced residual benefit. (02:30)
- The role of Billy’s dedicated team in providing proactive care. (04:00)
- The importance of having a specialist who builds personal, lasting relationships with both clients and insurance companies. (06:20)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Have you ever found yourself overwhelmed by all the financial protection options out there and wondered, "What if I don't have time to research the options?"
In this episode of Cover Your Assets, host Billy Gwaltney addresses a common concern among busy professionals, especially physicians in training: how to secure the best disability insurance coverage without dedicating endless hours to research.
Billy shares his insights gained from years of experience working with thousands of physicians across the country. With practical recommendations and a focus on simplifying the process, he ensures you don't have to be an insurance expert to make informed decisions.
Episode Highlights:
- Why physicians often apologize for not researching their options and why it's completely understandable. (01:08)
- A breakdown of the four top disability insurance contracts you should consider—MassMutual, Guardian, Principal, and Ameritas. (02:29)
- The importance of working with a specialized broker and the benefits they bring to the table. (03:55)
- How having an expert broker can make all the difference when it's time to file a claim, ensuring your needs are met without hassle. (05:30)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Ever wondered if your employer's long-term disability (LTD) policy truly has your best interests at heart?
In this episode of Cover Your Assets, host Billy Gwaltney reveals the hidden truths behind employer-provided group LTD policies. Discover the significant gaps in these policies and why private specialty disability coverage might be a better safety net for you.
Billy shares insights from his extensive experience with physicians, highlighting key differences between employer group LTD policies and private insurance. Learn why it's crucial to be informed about what your coverage truly offers.
Episode Highlights:
- The basics of employer-promoted group LTD policies and their hidden biases. (01:05)
- Explore significant gaps in coverage and why the benefits might fall short. (02:06)
- Understand adverse selection and how it affects the definitions and effectiveness of group policies. (04:24)
- Why maximizing private disability insurance is essential for comprehensive coverage. (05:23)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Did you know that the term 'own occupation' in your disability policy could mean completely different things based on your coverage type?
In this enlightening episode of the Cover Your Assets podcast, host Billy Gwaltney breaks down the complexities behind various disability insurance policies. He dives into the distinct differences between group employer policies and individual private disability policies and exposes the often murky definitions that can significantly impact your coverage.
This episode is a must-listen if you want to ensure your policy will actually protect you when you need it most.
Episode Highlights:
- Understanding the difference in group disability policy definitions and explaining adverse selection. (02:02)
- Why 'own occupation' means different things in employer-provided vs. individual policies. (04:41)
- Examples of how policy definitions affect claim approvals. (10:57)
- Key elements to look for in an individual private policy to ensure comprehensive coverage. (12:55)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Host Billy Gwaltney sits down with innovative financial planner Kyle Christensen in this riveting episode of Cover Your Assets. Discover how Kyle's unique take on financial planning—focused on trust, continuous education, and the velocity of money—can transform your approach to wealth management and help you achieve financial independence.
Kyle goes beyond traditional financial advice, advocating for principles that foster successful decision-making and long-term client relationships. He also highlights the critical role of understanding personal finance and challenges the conventional methods promoted by financial institutions. If you're a physician seeking a practical and enlightened approach to finances, this episode is a must-listen.
Episode Highlights:
- Kyle discusses building and maintaining client relationships through trust and long-term commitment. (05:17)
- Learn about the five foundational principles Kyle teaches, focusing on saving, protection, asset replacement, liquidity, and the velocity of money. (12:45)
- Kyle unpacks the "velocity of money" concept, illustrating how to get multiple uses out of the same dollar. (24:32)
- Get Kyle's top book picks, including "Rich Dad, Poor Dad" by Robert Kiyosaki and "The Lifestyle Investor" by Justin Donald. (37:50)
Don't miss this enlightening conversation that defies traditional financial planning norms and empowers you with strategies to Cover Your Assets...From All Angles.
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you ready to secure your financial future and plan for a fulfilling career? In this fascinating episode of Cover Your Assets, host Billy Gwaltney chats with financial advisor John Navin, dissecting the intricacies of succession planning and long-term financial strategies. John shares his vast experience and unique personal journey, making complex concepts accessible and actionable.
Discover the unique features of John's innovative "Lifestyle Maximizer" plan, a comprehensive approach to financial health that addresses key areas such as estate and tax planning. The conversation also delves into the role of personal values and vision in shaping financial strategies, offering a roadmap to align your finances with your life goals without compromising on today's joys.
Episode Highlights:
- John talks about having a personal succession plan and hiring his first COO. (00:29)
- Introduction to the "Lifestyle Maximizer" plan and its comprehensive approach. (06:17)
- Building trust with clients nationwide and the significance of values and vision in financial planning. (14:23)
- John's essential financial advice on the importance of having a custom plan. (20:27)
Tune in for an episode that not only covers the essentials of financial planning but also inspires you to map out a fulfilling journey both in life and in your career. Join Billy and John as they unpack what it truly means to Cover Your Assets...From All Angles.
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Do you want to safeguard your hard-earned success? In this episode of Cover Your Assets, host Billy Gwaltney breaks down the quote spreadsheet, providing a detailed overview of the Benefit Increase Rider (BIR) and what makes disability coverage so crucial for physicians in training.
Discover the top true specialty disability carriers and the key elements you need in your coverage plan. Learn the importance of private, portable, non-cancelable, and guaranteed renewable coverage with the BIR that allows you to expand your coverage once you become an attending. And gain valuable insights into getting this part of your financial life exactly right.
Episode Highlights:
- The importance of private, portable, non-cancelable, and guaranteed renewable disability coverage. (1:17)
- The benefits of the BIR and its significance for physicians in training. (3:17)
- The top true specialty disability carriers and their interchangeable contract landscape. (4:42)
- Key components of disability coverage and the role of a specialist broker in securing the right plan. (26:33)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you a resident or fellow at NewYork-Presbyterian or the University of Rochester looking to enroll in the Guardian Guaranteed Standard Issue (GSI) disability policy? In this episode of Cover Your Assets, host Billy Gwaltney outlines the seamless process for enrolling in the program, highlighting its simplicity and efficiency.
Join Billy as he shares the step-by-step procedure, from filling out a pre-application form to signing the application electronically. Discover how the Guardian GSI program eliminates the need for medical screenings or extensive questionnaires, making it incredibly convenient for busy trainees.
Episode Highlights:
- Learn about the quick and simple electronic pre-application form. (1:10)
- Understand the importance of applying for the Guardian GSI first before considering other coverage. (2:17)
- Explore the efficient processing and turnaround time, ranging from 24 hours to two weeks. (3:45)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you a resident or fellow at Ohio State University or OhioHealth? Are you fully prepared for the enrollment process for Ameritas Guaranteed Standard Issue (GSI) disability coverage? In this episode of Cover Your Assets, host Billy Gwaltney breaks down the straightforward electronic enrollment process, emphasizing the importance of enrolling in the GSI before applying elsewhere.
Learn about the efficient and hassle-free nature of the application, the potential processing timeline, and the crucial rule to consider before making any other applications.
Episode Highlights:
- Insight into the simple and quick electronic enrollment process. (00:30)
- Understanding the potential processing timeline for the application. (1:20)
- The crucial rule of enrolling in the GSI before applying elsewhere, ensuring eligibility for the valuable coverage. (2:20)
- The advantages of GSI, including the lowest rate, 20% discount, and efficient underwriting process compared to traditional medical screening. (2:44)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you a resident or fellow physician looking to navigate the medical screening process for disability coverage with ease? In this episode of Cover Your Assets, host Billy Gwaltney reveals the streamlined procedure for securing private specialty or occupation disability coverage and how it's been simplified to require minimal time and effort.
Walk through the electronic and phone-based medical screening process for trainees and attendings (highlights: time-saving benefits and the waived need for insurance physicals), gain valuable insights into the importance of having the right definitions and trainee discounts, and understand how brokers advocate for clients to influence underwriters and navigate the process seamlessly.
Episode Highlights:
- The streamlined electronic and phone-based medical screening process for trainees and attendings. (00:40)
- Insight into the timeline for processing applications and the role of brokers in influencing underwriters. (3:21)
- The significance of having the right definitions and securing trainee discounts for disability coverage. (4:13)
- How to effectively work with a specialist broker to ensure a smooth and quick process. (4:48)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you prepared for the unexpected in the world of insurance? What happens to your policy if your agent quits or is no longer in the picture?
In this episode of Cover Your Assets, Billy explains the concept of orphaned policyholders in the insurance world and the challenges they face without an assigned agent. He also underscores the importance of having a knowledgeable broker to guide you through policy provisions and assist in claims. Listeners will gain valuable insight into the potential pitfalls of being an orphaned policyholder and how to address the situation proactively.
Episode Highlights:
- The role of a broker in securing and maintaining a disability insurance policy. (00:51)
- The potential drawbacks of dealing directly with insurance companies as an orphaned policyholder. (2:55)
- Seeking assistance in finding a new agent to take over your policy. (4:20)
- The impact of having a specialized broker with established relationships in the insurance industry. (4:59)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you considering a guaranteed standard issue (GSI) disability policy and wondering if the broker still matters? In this episode of Cover Your Assets, host Billy Gwaltney explains the crucial role of a broker even when purchasing a GSI disability policy. He outlines the importance of having a specialist broker to navigate the complexities of disability coverage and the claim process. With real-life examples, Billy emphasizes the valuable role brokers play in ensuring policyholders receive their entitled benefits.
Episode Highlights:
- Importance of working with a broker. (00:45)
- Role of a broker in GSI policies. (1:55)
- Broker involvement in the claim process. (3:52)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you considering applying for disability insurance? In this episode of Cover Your Assets, host Billy Gwaltney discusses the vital importance of applying for guaranteed standard issue (GSI) policies first, before applying elsewhere. He highlights the potential consequences of applying for disability insurance with other companies prior to GSI and explains why securing a GSI policy is essential for individuals with certain medical histories or risky hobbies.
Billy emphasizes that GSI policies offer the best coverage without medical screening and advises listeners to work with a specialist to navigate the application process effectively. He stresses the significance of understanding the process before pursuing disability insurance and shares his contact information for personalized assistance.
Episode Highlights:
- Explaining the crucial importance of applying for GSI policies first. (1:06)
- Why do insurance companies avoid being the place of last resort? (2:58)
- Emphasizing the guaranteed renewable and non-cancellable nature of GSI policies.(3:45)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
In this episode of Cover Your Assets, host Billy Gwaltney delves into the details of the Ameritas Guaranteed Standard Issue (GSI) policy for residents and fellows at OhioHealth. Discover how this top-tier true specialty own-occupation disability policy provides unparalleled coverage with no required medical screening.
Billy outlines the three non-negotiable elements of a properly designed disability policy and explains how the Ameritus GSI offer ticks all the boxes. He emphasizes the importance of taking advantage of this unique opportunity while it’s available and highlights the significant benefits of securing this coverage early in your career.
Episode Highlights:
- How Ameritus seamlessly incorporates the essential elements of a true specialty own-occupation disability policy. (00:19)
- Three reasons why the GSI offer is a game-changer for trainees. (3:57)
- Unique features of the GSI coverage, including portability, and non-cancelable and guaranteed renewable benefits. (6:03)
- Potential pitfalls of delaying or applying elsewhere before taking advantage of the GSI offer. (8:35)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you a resident or fellow at Ohio State University? You won’t want to miss this episode of Cover Your Assets as we dive into the details of the Ameritas Guaranteed Standard Issue (GSI) policy, offering exclusive coverage with no medical screening, which is now available to you.
Host Billy Gwaltney provides an in-depth look at the unique benefits of the Ameritas GSI policy for residents and fellows at Ohio State University. He outlines the three critical elements of a properly designed true specialty policy, explains the guaranteed standard issue concept, and emphasizes the importance of applying for this exclusive coverage.
Episode Highlights:
- Crucial components of a true specialty own-occupation disability insurance policy and how it can benefit physicians. (1:16)
- GSI and its significance for residents and fellows at OSU, including the absence of medical underwriting and exclusions. (4:04)
- Exclusive benefits and features of the Ameritas GSI policy. (5:20)
- Important considerations – like the requirement to apply for GSI before applying elsewhere – and next steps. (8:34)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you a resident or fellow at the University of Rochester? Have you found the key to ensuring your financial security as a physician? In this episode of Cover Your Assets, host Billy Gwaltney dives deep into Guardian’s guaranteed standard issue policy being offered to you.
Listen in as he outlines the vital elements of a properly designed specialty disability policy, including the true specialty own occupation definition of disability and enhanced partial disability benefits.
Episode Highlights:
- Three vital elements of a properly designed specialty disability policy. (1:02)
- Comparison of elimination periods and cost of living adjustment options. (7:34)
- The risk of waiting and the importance of getting the GSI opportunity in place before applying elsewhere. (10:09)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you a resident or fellow with New York-Presbyterian at Columbia, Weill Cornell, or Queens? Are you looking for disability insurance without the hassle of medical screening? In this episode of Cover Your Assets, host Billy Gwaltney provides an exclusive overview of Guardian’s Guaranteed Standard Issue (GSI) disability policy being offered to you. Learn about the unique benefits and opportunities available to residents and fellows at these facilities and discover why this coverage is considered the best on the planet.
Billy also breaks down the three non-negotiable elements of a properly designed private specialty disability policy, provides an in-depth explanation of the Guardian guaranteed standard issue program, discusses the importance of timing in applying for this coverage, and emphasizes the exclusivity and portability of the policy.
Episode Highlights:
- True Specialty Occupation definition of disability. (1:24)
- Enhanced Partial Disability Benefit. (2:41)
- Long term recovery benefit and Future Increase Option details. (3:10)
- Importance of applying for GSI before medical underwriting. (8:14)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
This episode was first broadcast in November 2022. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
When physicians contact me about disability policies, they always ask what types of disability policies are available.
There are two different types. But even though they’re both considered disability policies, one works in your favor while the other could force you to pay back your benefits.
In this episode, you’ll discover the two types of disability policies and which one you should choose for the maximum benefit.
Episode Highlights:
- The two types of disability policies and how to pick the best one for you. (0:49)
- The “adverse selection” reason why group LTD policies restrict your benefits. (3:14)
- Why you might be forced to pay back your disability benefits if you sign up for the group LTD policy. (6:12)
- How to get paid your full disability policy, even after landing another job. (7:19)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
This episode was first broadcast in January 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
How much are you paying right now for your insurance premiums?
There’s a 95% chance it’s too much. Because 95% of physicians don't know that they can reduce how much they pay in premiums on their coverage.
How? By getting a discount through the right associations. Doing so can save you up to 50% on your coverage.
In this episode, you’ll discover how to add discounts to your existing attendant coverage. And, if you’re still in your trainee phase, you’ll find out how to save up to 50%!
Episode Highlights:
- How to permanently save up to 40-50% on your disability coverage by using a trainee discount. (1:23)
- How to get up to 15% off your coverage as an attendant, even if you’re past the trainee period. (3:24)
- The “Policy Discount” loophole most insurance companies use to charge you extra premiums, and how you can avoid it. (4:32)
- A secret strategy for saving money on your insurance policy, while upgrading your coverage. (4:50)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
This episode was first broadcast in February 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
As a trainee, it can be tough to budget for disability coverage. But here's the thing: waiting to get coverage is like playing a risky game with your finances.
Think about it—the longer you wait, the higher the interest rates on your coverage will be. It's like a ticking time bomb for your wallet.
This is why it's important that you learn to take control of your financial and health destiny now to get the best discounts and rates on disability coverage. In this episode, we'll show you how to do just that while paying as little as possible on premiums.
Episode Highlights:
- How to get the largest discount on your disability coverage. (2:14)
- How 95% of trainees end up paying 20-30% extra for coverage—and how you can avoid that. (3:16)
- Why waiting for four years (as a trainee) to get coverage could end up permanently costing you an extra 40-50% in premiums. (3:43)
- How you can legally bypass in-person physical screening for coverage as a trainee. (4:32)
- The key to securing the lowest premiums on your coverage. (6:42)
- Why a lower coverage rate may be the smarter choice as a trainee. (9:55)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
This episode was first broadcast in April 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
Some people think it’s better to skip a broker and go straight to an insurance company to avoid paying an extra fee, which is an excellent idea if you want to save money by doing the work yourself.
But unfortunately, it is more complicated than you think. Going straight to the insurance companies is often more expensive because you won’t get the best rates (and you wind up paying for the broker fee anyway).
In this episode, we share whether skipping a broker is a good idea, how to get the best disability coverage, and how to save yourself from coverage issues that cause frustration and hurt your wallet.
Episode Highlights:
- Can you go straight to an insurance company to avoid paying an extra fee for the broker? Here’s why it could cost you more. (1:17)
- How to choose the right broker—and why not knowing this detail could cost you thousands of dollars. (2:33)
- Why buying disability coverage from a large firm is the worst financial decision you can make that’ll cost you thousands in the long term. (5:18)
- The three traits your disability coverage broker absolutely needs to have. (7:18)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
This episode was first broadcast in June 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
Picking the right disability coverage provider is a big deal. Why?
Because they'll be your safety net when times get tough, and you'll be paying them for a long time. Make sure it's a wise investment.
In this episode, we reveal the top companies we recommend and what to watch out for. Plus, we'll share two more alternatives if you can't access the top four.
Episode Highlights:
- The ultimate disability coverage: four companies you can't afford to overlook (and why choosing otherwise could cost you thousands). (1:05)
- Choose this company if you expect to have an exception during the lifetime of your policy (Note: no other company will let you add changes to your policy). (1:54)
- Want the lower rates on your policy? Choose THIS to save a fortune on premiums over the years. (2:15)
- Are medical screenings a concern? Can’t pick among the four companies? Here are two more companies you can look at. (3:55)
- The three types of life insurance, which one is cheapest, and which to get if you want the biggest payout possible. (6:11)
- Why self-insuring is almost always a costly mistake, even if it seems cost-effective on the surface. (10:43)
- The surprising “life enjoyment” benefits of keeping an active life insurance policy after retirement. (16:51)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
This episode was first broadcast in August 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
Why do shady brokers take advantage of so many innocent physicians?
The biggest reason is that most people want cheaper rates, even though the top four companies offer safe, worthwhile coverage.
Physicians think they're doing the right thing but set themselves up for misfortune instead. They can lose thousands of dollars every year and face hours of stress and endless troubles when a disability case comes up.
In this episode, you'll see the common pitfalls that price shoppers face and discover how to prevent shady brokers from taking advantage of you—so you get the coverage you deserve.
Episode Highlights:
- The dirty little secret shady brokers use to dupe you into paying thousands of dollars extra for cheaper coverage. (2:25)
- Three overlooked coverage mistakes that could cost you a fortune. (3:00)
- Make sure you have these “Vital Cost” features in your coverage when buying (Warning: not knowing these allows your broker to take advantage of you). (3:28)
- Three “Life Saving” features without which your coverage is useless (Note: Missing one of these means you’ll be left high & and dry during a disability). (4:25)
- Surprising reason why using a graded premium is going to cost you thousands of dollars more instead of saving money. (5:24)
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.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Are you a physician wondering whether you should choose the Benefit Increase Rider (BIR) or Future Increase Option (FIO) for your policy? In this episode of the Cover Your Assets podcast, Billy Gwaltney dives into the pros and cons of each option. He breaks down the guidelines and requirements for both riders and explains how they can affect your coverage and cost. Whether you prioritize flexibility or cost-efficiency, this episode will help you decide on your insurance needs.
Episode Highlights:
- Billy explains how BIR and FIO riders allow you to increase coverage in the future without redoing medical screenings. (1:06)
- The differences between the BIR and the FIO, and how they can both lead to maximum coverage based on your income. (3:52)
- The BIR requirements and guidelines, including updating your income and accepting additional coverage you qualify for. (5:22)
- The flexibility of the FIO, which allows you to increase your coverage anytime and by any amount, without adhering to a specific schedule. (6:58)
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 shows you exactly what you need to do to protect your income and way of life.
Stay up to date with Billy on Facebook, LinkedIn, or YouTube.
If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
As a physician, how do you choose the right disability policy for your specific needs, to protect your income and way of life? From understanding the importance of private coverage to exploring the three non-negotiable components of a quality policy, host Billy Gwaltney provides valuable insights to help you make an informed decision. Discover why relying solely on employer policies or group coverage may not provide the necessary protection, find out which companies are offering the best coverage, and learn the three non-negotiable components of a quality disability policy.
Listen to this episode for crucial tips and to gain the peace of mind that financial security brings.
Episode Highlights:
- The significance of owning a private disability policy and the importance of comprehensive definitions. (00:38)
- Four insurance companies currently offering private, non-cancelable, and guaranteed renewable disability coverage. (2:50)
- Understand why the name brand or popularity of an insurance company is not as important as the contract itself. (5:28)
- Explore the three non-negotiable components of a quality disability policy: true specialty own occupation definition, enhanced residual benefit, and long-term recovery benefit. (6:36)
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 shows you exactly what you need to do to protect your income and way of life.
Stay up to date with Billy on Facebook, LinkedIn, or YouTube.
If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Is being an independent broker in the insurance world the same for everyone? Host Billy Gwaltney answers that question in this episode, exploring the differences in being an independent broker in the insurance industry. He breaks down the two broad categories of independence and discusses the advantages of working with a truly independent broker who prioritizes the client's needs over company affiliations.
If you're curious about the true meaning of independence in the insurance broker world and want to ensure you're getting the best coverage for your needs, this episode is a must-listen.
Episode Highlights:
- Billy defines the term "independent broker" and discusses the varying definitions within the insurance industry. (00:52)
- The importance of specialized coverage and the benefits of working with a broker who represents companies with the strongest contracts. (2:46)
- Billy uncovers the truth behind brokers who claim to be independent but repeatedly recommend the same insurance company as the solution. (5:40)
- The commission structure for brokers and how productivity bonuses should not impact their independence. (7:07)
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 shows you exactly what you need to do to protect your income and way of life.
Stay up to date with Billy on Facebook, LinkedIn, or YouTube.
If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Did you know that the average disability claim lasts for nearly 7 years? In this episode, Billy Gwaltney delves into the duration of disability claims and why it's important to have the right insurance coverage. He breaks down statistics from the Council for Disability Awareness and highlights the most commonly claimed types of disabilities. Learn more about the significance of the true specialty own occupation definition of disability and the need for a long-term recovery benefit.
Tune in to this episode to learn more about the duration of disability claims and how to protect your financial security.
Episode Highlights:
- Statistics from the Council for Disability Awareness on the duration of disability claims. (00:45)
- Types of disability claims and the most common illnesses that cause them. (3:43)
- The importance of having insurance coverage that considers your specific occupation and allows for alternative ways of practicing medicine, even if you can't physically show up to work. (5:46)
- Why you need a long-term recovery benefit in your insurance coverage. (8:55)
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 shows you exactly what you need to do to protect your income and way of life.
Stay up to date with Billy on Facebook, LinkedIn, or YouTube.
If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
In this episode, host Billy Gwaltney takes a deep dive into the three key elements that make up a top private specialty disability policy and why they're essential for physicians looking to safeguard their financial security and maintain peace of mind. Billy breaks down each element in detail, offering insights and advice to help listeners make informed decisions about their coverage options.
Listen to learn more about the three pillars and gain valuable insights into securing comprehensive coverage.
Episode Highlights:
- The first pillar: True Specialty Own Occupation Definition of Disability. Learn why this definition is crucial for ensuring policyholders receive full benefits even if they pursue alternative income sources. (1:53)
- The second pillar: Enhanced Residual Benefit. Explore how this benefit covers partial disabilities, providing income support for physicians who can work part-time due to illness or injury. (3:52)
- The third pillar: Recovery Benefit. Discover how this benefit ensures physicians receive continued support if they medically recover from a disability but experience a decrease in income upon returning to work. (5:04)
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 shows you exactly what you need to do to protect your income and way of life.
Stay up to date with Billy on Facebook, LinkedIn, or YouTube.
If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.
--- Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Have you ever wondered why physicians are required to sign HIPAA authorization and HIV consent forms?
In this episode, host Billy Gwaltney answers this question and sheds light on the importance of these forms during medical screenings for disability coverage. Billy explains how the HIPAA authorization allows underwriters to verify medical information and request medical records if necessary, while the HIV consent form is a precautionary measure in case labs are required.
Listen to learn more about these crucial forms and why they are necessary for obtaining insurance coverage.
Episode Highlights:
- The purpose of signing a HIPAA authorization during the application process. (1:03)
- How the HIPAA authorization allows underwriters to access medical records and conduct a medical evaluation for disability coverage. (2:00)
- The significance of the HIV consent form and its connection to insurance physicals and lab tests. (03:06)
- Why the signed HIPAA authorization and HIV consent forms are essential for submitting an application and obtaining coverage. (04:01)
The Cover Your Assets Podcast is on a mission to help physicians like you get their 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 shows you exactly what you need to do to protect your income and way of life.
Stay up to date with Billy on Facebook, LinkedIn, or YouTube.
If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.
Send in a voice message: https://podcasters.spotify.com/pod/show/billy-gwaltney/message
Why do shady brokers take advantage of so many innocent physicians?
The biggest reason is that most people want cheaper rates, even though the top 4 companies offer safe, worthwhile coverage...
In other words, they set themselves up for misfortune…
This leads to losing thousands of dollars every year. Plus, it causes hours of stress and endless troubles when a disability case comes up.
In this episode, you get to see the common pitfalls that price shoppers face... And you’ll discover how to prevent shady brokers from taking advantage of you, so you get the coverage you deserve.
Tune in now!
Show Highlights Include:
- The dirty little secret shady brokers use to dupe you into paying thousands of dollars extra for cheaper coverage (2:25)
- 3 overlooked coverage mistakes that could cost you a fortune (3:00)
- Make sure you have these “Vital Cost” features in your coverage when buying (Warning: Not knowing these allows your broker to take advantage of you…) (3:28)
- Three “Life Saving” features without which your coverage is useless (Note: Missing one of these means you’ll be left high & dry during a disability) (4:25)
- Surprising reason why using a graded premium is going to cost you thousands of dollars more instead of saving money (5:24)
As a physician, your time is limited…
So, don't waste it searching through info on disability insurance that won't help you.
With so much bad advice out there, it's crucial to get the right details!
Otherwise you risk yourself into policies that charge you crazy premiums and never pay off when crisis strikes… Leaving you and your family high & dry...
That's why I'm here to share the crucial bits you need to know before getting disability insurance. This way, you'll be safe from shady policies and save yourself years of headache and money.
Listen now!
Show Highlights Include:
- Your most crucial asset as a young physician to take care of (hint: it’s not what you think) (1:43)
- Don’t have time to look into disability insurance? Here are the top 2 disability policies you need to know about (3:00)
-
1 insurance type you need to have now (Note: This will save you years of headache & money) (3:24)
- The sneaky ways certain policies siphon all your money and leave you high & dry during a crisis (3:41)
- Make sure your coverage has THIS benefit added on to it (Having this will save you from insurance companies that try to cancel your policy) (6:35)
Getting coverage is easy, considering all the options you have.
But knowing what to pick or who to go to get help from is tricky.
To make matters worse: There are tons of bad brokers that will gladly take your money from your pockets. And employers that promise big payouts but leave you high & dry in times of crisis…
In this episode, I’ll reveal exactly how you can navigate the various minefields of the insurance world and get the right coverage for you.
Listen now!
Show Highlights Include:
- The real truth behind insurance companies and why most people can’t get a higher premium (2:46)
- Surprising reason why you’ll be charged the same by insurance companies even if your pay goes down by more than half (4:09)
- 2 crucial factors insurance companies look at when deciding how much coverage you need (5:25)
- The earliest you’re eligible for an increase in coverage as a trainee (Note: Look out for this window so that you can get more coverage over the long term) (6:06)
- How to get more credit for your coverage on your guaranteed bonus on pay (7:13)
- Are you an independent contractor? Here’s how long you need to wait before an insurance company will give you credit for your new income (7:41)
- Sneaky “Definition Watering” tactic insurance companies use to make it difficult for people to collect coverage (and how you can prevent that) (10:36)
- How your employer could unknowingly cause your private speciality disability benefit to go down by half (and what you can do to avoid it) (12:00)
- The dirty little secrets of employers who brag about having up to 60% of their salary replacement as a joining benefit (13:19)
Embracing an entrepreneurial mindset unlocks unfair advantages.
Not only does it save your most valuable assets (time and money), but it also makes you more credible in your patients' eyes. In fact, this can make you the top choice in your entire market.
But how can you embrace an entrepreneurial mindset as a physician?
In this episode, I reveal how to think like a business owner, and revel in the unexpected benefits that thinking like an entrepreneur unlocks.
Want to save time, cut costs, and become the most in-demand physician in your market?
Listen now!
Show Highlights Include:
- The ONE simple mindset shift that can help you think more like an entrepreneur and earn more by as soon as next week (1:58)
- Why having an entrepreneurial mindset helps you better serve your patients (and helps you pay off your student debt in half the time) (3:45)
- How to position yourself as the #1 physician in your area and make patients line up around the block to see you (5:33)
- The counterintuitive reason why a lot of physicians end up becoming entrepreneurs without realizing (and how not using this fact to their advantage is costing them time, money & credibility) (6:24)
Picking the right disability coverage provider is a big deal.
Why?
Because they'll be your safety net when times get tough, and you'll be paying them for a long time.
Make sure it's a wise investment.
Join me in this episode as I reveal the top companies we recommend, along with what to watch out for. Plus, I'll share two more alternatives if you can't access the top four.
Tune in now!
Show Highlights Include:
- The Ultimate Disability Coverage: 4 Companies You Can't Afford to Overlook (Warning: Choosing Otherwise Could Cost You Thousands) (1:05)
- Choose this company if you expect to have an exception during the lifetime of your policy (Note: no other company will let you add changes to your policy) (1:54)
- Want the lower rates on your policy? Choose THIS! (This will save you a fortune on premiums over the years…) (2:15)
- Medical screenings are a concern? Can’t pick among the 4 companies? Here are 2 more companies you can pick (3:55)
There’s a proper process you need to follow if you want to set up your disability coverage the right way.
And it’s something most people miss when they self-insure…
Join me in this episode as I guide you through the steps to get the cheapest disability coverage that protects you just as well as the expensive ones…
Listen now!
Show Highlights Include:
- The 4 best companies that offer true speciality own occupation disability coverage (Warning: if you don’t pick from one of these you risk losing thousands of dollars in muddy contracts) (2:01)
- Why some cheaper contracts are just as good as expensive ones (and how to get one) (3:10)
- The correct way to proceed with your coverage if you’re ready (Note: follow this method to avoid unnecessary hassle that comes with the paperwork) (8:40)
- Why you should take action ASAP to get the affordable coverage (Waiting too long means you’ll end up paying thousands more on premiums long-term) (11:51)
Getting a benefit increase rider on your policy is the smartest move you can make to ensure a smoother life ahead.
But there’s a catch…
There are hidden pitfalls that most people don’t know about that give insurance companies the power to snatch away your precious benefit increase rider.
Putting your future at risk.
In this episode, I will unveil the surprising reasons people lose their benefit increase rider. You’ll also discover the unfortunate truth about having to endure additional medical screenings and the devastating possibility of not receiving the increase you were counting on.
Listen now!
Show Highlights Include:
- Surprising reason why the benefits increase rider actually ends up making your premiums cheaper (2:04)
- Trainees: Here’s how you should get your brokers to structure your policies to get the maximum possible benefits over the long term (2:16)
- Don’t have disability coverage? Here’s the “perfect” time to get the largest discount and maximum benefits when you get the coverage (3:15)
- The “Coverage Purchase” formula that insurance companies use to figure out exactly how much coverage you need (and how you can increase that) (3:51)
- The shortest amount of time you have to wait to legally increase your coverage (5:03)
- Already have benefit increase rider? Here’s how you can prevent insurance companies from sneakily taking it off your policy… (5:10)
- Why increasing your coverage by a low amount can enable insurance companies to snatch away your benefits increase rider (5:44)
- Here’s how you can increase your coverage as a trainee in half the time attendees can (7:01)
- The biggest regret every policyholder that goes through a claim has (and how you can potentially save yourself from a massive headache in the long-term) (11:05)
There are two ways to retire as a physician: you can either retire sitting on a pile of assets you’re afraid to touch, or you can enjoy life, knowing your finances are secure no matter what happens to you.
If you want to belong to the second camp, this is the episode for you.
Today we’re joined for the second installment of Kyle Christensen’s 2-part interview on financial planning.
In this episode, you’ll discover the 3 investing rules that help you plan your finances for maximum wealth. Plus, you’ll find out what kind of life insurance policy gives you the most peace of mind as you advance through your career.
Tune in now!
Show Highlights Include:
- Do you know your maximum life insurance? If not, listen now. It could save your spouse’s quality of life when you croak (0:35)
- The 3 types of life insurance, which one is cheapest, and which to get if you want the biggest payout possible (6:11)
- Why self-insuring is almost always a costly mistake (even if it seems cost-effective on the surface) (10:43)
- The surprising “life enjoyment” benefits of keeping an active life insurance policy after retirement (16:51)
Why is it that doctors are so skilled, yet have so little control of their careers? Your time is controlled by your patients. And your salary is capped by insurance reimbursement rates.
Financial planning, on the other hand, is one of the areas where you have plenty of control. Yet most physicians throw it away to financial institutions, praying they’ll have your best interests at heart.
Spoiler alert: they don’t.
And because of that, you could miss out on millions of dollars by retirement.
But today’s guest, San Antonio financial advisor Kyle Christensen has a solution.
In this episode, you’ll discover 5 financial planning principles that put your finances back in your control and help you retire wealthy.
Tune in now!
Show Highlights Include:
- A simple mindset shift that could transform a physician’s chaotic schedule into a smooth day (3:44)
- Why most physicians are bad with money, why it’s not your fault (and how to take ownership of your financial future) (13:57)
- The weird reason investing your income is like lighting your money on fire (unless you do this with 15% of your income first) (16:35)
- The “pretend protection” trap that leaves optimistic physicians incapacitated and broke (18:31)
- How to guard yourself against “The 4 Rules” financial institutions use to give you as little money as possible (21:47)
- The “Velocity of Money” strategy that helps international banks (and savvy physicians) become outrageously wealthy (27:57)
If you’ve ever thought about whether or not you need a broker, then you’re not alone.
Thousands of physicians have asked the same question…
It’s only responsible to know if you need to be spending money on something you could likely do yourself.
Join me in this episode as we delve deep into the question on every physician's mind: Do I really need a broker? We'll explore the benefits and drawbacks of having a broker, how it can potentially save you time and effort, and much, much more!
Tune in now!
Show Highlights Include:
- Why reading a disability coverage contract by yourself is like navigating a field of landmines (1:17)
- How choosing the wrong broker can cost you upwards of $20,000 every month (2:51)
- Top 5 traits you need to look for when you’re choosing a broker (This will save you unnecessary stress & headache at the time of a claim) (3:09)
- Here’s why 95% of the brokers on the market are the worst possible choice for a physician (3:37)
Some people think it’s better to skip a broker and go straight to an insurance company to avoid paying an extra fee.
Which is an excellent idea if you want to save money by doing the work yourself.
But unfortunately, it is more complicated than you think. And often, it’s more expensive to go straight to the insurance companies because you won’t get the best rates (and you wind up paying for the broker fee anyway).
Join me in this episode as I share whether skipping a broker is a good idea or not. And how to get the best disability coverage, and save yourself from coverage issues that cause frustration and hurt your wallet.
Tune in now!
Show Highlights Include:
- Can you go straight to an insurance company to avoid paying an extra fee for the broker? Here’s why it could cost you more… (1:17)
- How to choose the right broker (Warning: not knowing this could cost you thousands of dollars) (2:33)
- Why buying disability coverage from a large firm is the worst financial decision you can make that’ll cost you thousands in the long term (5:18)
- The 3 traits your disability coverage broker absolutely needs to have (This will save you from headaches & unnecessary work in the long run) (7:18)
Most physicians think they’re invincible to accidents which can disable them and forever change their life. Physicians spend decades in school dedicating their lives to their careers, but never think twice about how quickly it can end or get altered.
That’s what happened with today’s guest, Dr. Naguib Farah. Dr. Naguib thought he had good genes, and never considered he’d one day be unable to work a full workweek. But then his stresses got to him, caused a stroke, and left him with partial blinding in one of his eyes.
Dr. Naguib still works in some capacity today, but only 66% of the time he used to work. Luckily for Dr. Naguib, he had good disability insurance (even though he almost got denied).
In this episode, Dr. Naguib shares his story of becoming disabled and how his disability insurance saved him from financial and existential anxiety and depression.
Listen now.
Show highlights:
- Why private disability insurance is crucial for your financial freedom (especially if you think you have good genes and will never get disabled) (5:16)
- How to get the best definitions and rates for your disability insurance (5:59)
- The insidious way even “healthy” physicians can become unable to perform their duties overnight (6:57)
- Why filing an insurance claim with a broker help you receive your benefits faster (and with fewer headaches) (17:59)
- How to get an insurance company to accept your claim (even if they’ve denied you before) (19:03)
- The weird way disabled physicians are their own worst enemy to their doctors (and how this could make your insurance company deny your claims) (20:40)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Most trainees believe that they can get their coverage approved whenever they want.
Which is absolutely not the case.
Well, lucky for you, there is good news and bad news...
The bad news is that your policy might get delayed by months, leaving you stranded without coverage.
The good news?
There are ways you can dramatically reduce your policy approval time. At times even get it approved by the next day.
In this episode, I'll share practical tips on how you can do just that, cut down on your policy approval time and get your medical coverage asap.
Listen now!
Show Highlights Include:
- The 3-step medical screening process that you need to go thru to get your policy approved (1:39)
- Exactly how to get your medical coverage in the shortest time possible (As fast as 2-3 business hours) (2:30)
- Why your policy approval might get delayed by months (and how you can cut down on the time lag) (3:19)
- How most insurance companies delay your policy by over 1-2 weeks (and how you can prevent that) (5:55)
Every working person is vulnerable to disability.
And being disabled reduces your earnings, which is why I always recommend a private disability policy.
It’s one of the most effective methods for safeguarding a portion of your income while maintaining your standard of living.
But how do you go about purchasing a private disability policy?
In this episode, you’ll discover how to protect your hard-earned money with a private disability policy and where to safely purchase yours without spending more than required..
Listen now.
Show Highlights Include:
- How to purchase the best coverage policy in 3 simple steps. (1:36)
- The 4 factors that influence your coverage rate to prevent any "extra" bills you didn't plan for. (2:20)
- How a good broker can help you cut the stress of purchasing your policy by half. (4:35)
- How to reap income-tax-free benefits by paying for your coverage yourself. (6:32)
- Working with us as your broker — the best way to have a smooth policy purchase. (8:47)
As a trainee, it can be tough to budget for disability coverage.
But here's the thing: waiting to get coverage is like playing a risky game with your finances.
Think about it - the longer you wait, the higher the interest rates on your coverage will be. It's like a ticking time bomb for your wallet.
This is why it's important that you learn to take control of your financial and health destiny now to get the best discounts and rates on disability coverage.
In this episode, we'll show you how to do just that while paying as little as possible on premiums.
Listen now!
Show Highlights Include:
- How to get the largest discount on your disability coverage (2:14)
- 2 overlooked reasons why waiting till graduation to get coverage ends up costing you more in the long term (2:43)
- How 95% of the trainees end up paying 20-30% extra for coverage (and how you can avoid that) (3:16)
-
1 reason why waiting for four years as a trainee to get the coverage could end up costing you an extra 40-50% in premiums permanently (and how you can prevent that) (3:43)
- How you can legally bypass in-person physical screening for the coverage as a trainee (4:32)
- The key to securing the lowest premiums on your coverage (6:42)
- Why a lower coverage rate may be the smarter choice as a trainee (9:55)
How much are you paying right now for your insurance premiums?
There’s a 95% chance it’s too much. Because 95% of physicians are unaware they can reduce how much they have to pay in premiums on their coverage.
How?
By simply getting a discount through the right associations...
And by doing so, there’s a good chance you can save up to 50% on your coverage.
In this episode, you’ll discover how to add discounts to your existing attendant coverage. And, if you’re still in your trainee phase, you’ll find out how you can save up to 50%!
Listen now.
Show Highlights Include:
- How to save up to 40-50% on your disability coverage permanently by using trainee discount (1:23)
- How you can to get up to 15% off your coverage as an attendant (even if you’re past the trainee period) (3:24)
- The “Policy Discount” loophole most insurance companies use to charge you extra premiums (and how you can avoid it…) (4:32)
- A secret strategy for saving money on your insurance policy (while upgrading your coverage) (4:50)
The state of Massachusetts is taking away gender-neutral discounting.
Which means that you can no longer add that to your policy to get a whopping 30-40% discount...
The highest discount you can get as an attendee. Comparable to your trainee discount, which is not available to practicing physicians.
In this episode, we show you how to use gender-neutral discounting to lower your premium rates permanently.
Listen now!
Show Highlights Include:
- How insurance companies decide how much to charge you on premiums (and how you can lower it in your benefit.) (1:04)
- Why if you’re a females need to get your disability coverage ASAP (hint: you’ll likely end up paying a fortune) (1:45)
- 3 different scenarios take advantage of your disability coverage and claim benefits while working your profession (4:13)
- How to claim the 30-40% gender-neutral discount before it expires permanently (7:11)
Disability premiums can be seen as a “luxury,” especially when various expenses wear you down.
Which makes it easy to delay paying it until a later time. But this is a fatal mistake.
Why?
Disability can come knocking on anyone’s door at any time.
So you must ensure your most valuable asset. That way, when hard times do come, you don’t have to sacrifice your and your children’s lives.
In this episode, I share advice on how you can pay off your debt and your disability coverage at the same time. So that you don’t have to put a pause on your lifestyle because of accidental disability.
Listen now!
Show Highlights Include:
- Should you pay down your debt OR increase your disability coverage? (0:43)
- Figuring out what your most important asset is so that you can protect your income during a disability (2:25)
-
1 mistake physicians make about claims that eat up their income (3:21)
- How to pay off both your debt and your disability premium in minimum time (4:55)
- How to know if you’re underinsured by your insurance company (and discover when is the “right” time to upgrade your coverage) (7:51)
What do you think, as a young physician, your most crucial asset is?
Your retirement account or your real estate portfolio? Or some other type of holding?
What if I told you it’s none of that…
The most important asset as a young physician is your ability to get up from bed every day and do your job.
We’re talking about a lot of money here, especially as a young physician in the early thirties, when you’re likely to work for another 20 or 30 years.
In this episode, you’ll learn sound advice on what you should do as a young physician to get disability coverage in the event of an illness. While dodging the loopholes that insurance companies use to avoid paying on a claim.
Listen now!
Show Highlights Include:
- The exact amount young physicians in their early thirties make on average (You qualify to make this amount if you’re early in your career) (1:21)
- How much it costs to get disability coverage in the event of an illness. (Don’t end up paying more than what it actually costs.) (3:03)
- How to win financially even if you get disabled at the end of your career (3:31)
- The underhanded “out-clause loophole” that insurance companies use to avoid paying on a claim (Knowing this will save your life when things go south…) (4:20)
Many physicians end up paying more than necessary for the same exact disability policy as another one who pays half of what they do.
Why?
They committed one of the 5 major mistakes which skyrocket disability policy rates.
In this episode, you’ll discover what factors determine the cost of your disability policies, so you can get the best deal possible.
Listen now.
Show highlights:
- Why your disability insurance rate goes up by 5% for each year you delay buying it (1:25)
- How your speciality impacts your rates over the life of your policy (even if you switch specialties in the future) (3:25)
- Why buying your disability policy during your residency can unlock massive, life-long savings for the same exact policy (3:37)
- The “Trainee Discount” secret for reducing your disability policy rates (without sacrificing your coverage) (8:24)
When physicians reach out to me about disability policies, they always ask what types of disability policies are available.
There are two different types. But even though they’re both considered disability policies, one works in your favor and you may be forced to pay back your benefits with the other one.
In this episode, you’ll discover the two types of disability policies, and which one you should choose for the maximum benefit.
Listen now.
Show highlights:
- The 2 types of disability policies (and how to pick the best one for you) (0:49)
- The “adverse selection” reason for why group LTD policies restrict your benefits (3:14)
- Why you might be forced to pay back your disability benefits if you sign up for the group LTD policy (6:12)
- How to get paid your full disability policy (even after landing another job) (7:19)
Employer long-term disability (LTD) coverage lures many young physicians into making a massive financial mistake.
Why?
Because employer LTD coverage is much cheaper than private speciality policies. But the cheaper cost comes with an enormous cost:
Not only is it much harder to collect at claim time, but many times employer LTD coverage doesn't pay anything at all, which can bankrupt your family if disaster strikes.
In this episode, you’ll discover the dirty little details in group LTD coverage that can prevent you from receiving your benefits. And why private speciality coverage pays more if something happens.
Listen now.
Show highlights:
- Why the “all coverage is the same” assumption can bankrupt your family if you become unable to perform your job (1:14)
- How insurance companies minimize their risk with adverse selection at your expense (1:58)
- Why you need private specialty disability coverage (even if your employer offers disability insurance) (2:32)
- Why private speciality coverage allows you to receive payments while working another job (and group LTD coverage doesn’t) (4:34)
- The “Partial Disability” perk private coverage offers that group coverage doesn’t (8:26)
Having a principal’s benefit update rider allows you to increase your coverage as your income grows. This is crucial because most trainees only get $5,000 a month in disability coverage, but specialists can get up to $30,000 per month.
But there are a few nuances with your benefit update rider. For example, you must increase it every 3 years (or else you’ll get trapped into your existing benefit amount). I had a client who decided not to upgrade, and it backfired on him when his new job created more stress than he imagined.
In this episode, you’ll discover how the principal’s benefit update rider works, and how to get the most coverage from it over the course of your career.
Listen now.
Show highlights:
- How the benefit update rider allows you to increase your coverage as your income grows (0:45)
- Why trainees only get $5,000 per month in disability coverage (and how to get up to $30,000 per month) (1:12)
- How to increase your disability coverage (without updating your medical screenings) (2:03)
- Why removing the benefit update rider traps you at the same coverage amount forever (unless you switch insurance companies) (2:50)
Unlocking the best disability coverage for physicians in the nation is a simple process. But it does require your medical records and an underwriter.
While most physicians have no trouble with this process, it can take longer than expected for insurance companies to make sure you’re healthy-ish. But there are a few simple things you can do to speed up this process, and eliminate your worry about disability insurance.
In this episode, you’ll discover how the underwriting and medical records process works, how to speed up the process, and why you don’t have to be as healthy as a triathlete to get coverage.
Listen now.
Show highlights:
- How to get the best possible disability coverage for physicians in America (0:52)
- Why showing insurance companies you’re “healthy-ish” allows them to offer you a non-cancellable, guaranteed renewable disability policy (1:18)
- 3 reasons why it may take up to 8 weeks for your underwriter to clear you for disability insurance (2:27)
- How to speed up the medical screening process and get disability insurance in two weeks instead of two months (3:52)
We live in an uncertain and unpredictable world where one small mistake can cause untold decades of suffering. Becoming disabled, for example, threatens your ability to make a living, pay off your student loan debt, and provide for your family.
That’s the bad news.
The good news?
Picking the right disability insurance creates certainty out of thin air. Especially if you suffer from a career-ending injury.
In this episode, you’ll discover how to create certainty with your disability insurance plan. And how this small decision prevents years of financial turmoil.
Listen now.
Show highlights:
- How insurance agencies and brokers trick you into picking an awful disability policy (and how to avoid this) (2:07)
- Why relying on your financial advisor for your disability insurance can leave you broke and unemployable (2:33)
- How to add certainty to your medical career (even if you suffer from a career-ending injury) (3:30)
- The single deadliest mistake physicians make in their financial plan which can sacrifice decades of education and income in mere seconds (5:13)
Many of my clients plan on moving to California after their residency. And so they ask if they should purchase disability insurance before moving.
My answer?
Absolutely! In fact, disability insurance costs 20-30% more in California compared to any of the 49 other states.
In this episode, you’ll discover some tricks to keep your disability insurance rates low (even if you plan on moving to California).
Listen now.
Show highlights:
- Why buying disability insurance before moving to California unlocks 20-30% cheaper rates (without sacrificing your coverage) (1:08)
- The single most expensive state to purchase disability insurance in (and 3 simple ways to avoid high fees) (1:40)
- How to get out of Californian price increases when you increase your coverage (3:24)
- Why paying more for the future insurability option rider in training protects your wallet after being employed (4:50)
As a specialist, you have worked hard to grow your practice. But you never know when an unforeseen circumstance might sneak up and destroy your income and way of life.
Navigating the ins-and-outs of own-occupation disability insurance is confusing and lethal — especially when you do a lot of procedures & clinic work.
But it doesn’t have to be this way.
In this episode, you’ll discover how to cut through insurance misinformation, so you can pick a policy that protects your wealth from the unknown.
Listen now.
- How being partially disabled surprisingly won’t steal your wealth (and increases other aspects of your practice) (2:25)
- Why not being able to perform procedures any longer doesn’t have to put an end to your medical career (3:54)
- How a procedural Ophthalmologist took advantage of his partial disability policy (and still continued his revenue-producing clinic work) (4:15)
- The single best wealth-protecting disability insurance company you can work with (5:26)
- The vague "50% Rule" for getting partial disability (without sacrificing clinic work) (6:00)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Good disability coverage could be the difference between financial security for life, and being broke and bound to a wheelchair.
There are between 70 and 75 disability insurance companies to choose from in the USA. Most of them weasel their way out of paying you, with a team of lawyers (and ill-defined policies).
And if you’re a woman, it gets worse: most companies charge you higher premiums just because of your gender. And some of them offer “gender neutral rates”, which is often a way of tricking you into a bad policy.
In short, disability insurance is a minefield.
That’s why we’ve made it easy for you. In this episode, we’ve narrowed down your options to just 4 reputable companies who’ll support your lifestyle (even if you become unable to work).
Listen now and take care of your insurance worries for good.
Show highlights:
- Why choosing an independent broker helps you get the best rates on your disability insurance (and avoid institutions who are just in it for the money) (1:57)
- How to simplify your disability insurance choices by narrowing the 70+ companies down to just 4 (2:26)
- How to lock in your trainee discount (without paying high premiums) (2:47)
- The “elimination period” hack that well-prepared medical practitioners use to lower their insurance premiums (3:35)
- How to claim a full disability payout (even if you are still able to work as a doctor) (4:18)
- The “double-dipping” loophole that allows you to profit up to $3,000 from minor injuries (even if you’re still able to work) (10:54)
- Why choosing the “COLA rider” option secures your lifestyle after disability (even as inflation continues to rise) (12:21)
- Why females pay more than males for the same disability coverage (and how to get that rate down) (13:23)
- How busy trainees can avoid time-wasting medical screenings with the “streamline” approach (15:53)
If you became permanently disabled, would you be able to pay off your student loan debt?
The average student loan debt for a physician is $201,490. In other words, that's $2,288 a month, paid every single month for the next 10 years.
How would you be able to cover this expense if you weren't able to work anymore? What would happen to your house, your car, your kids, and your family? How will you be able to keep the lights on when you're not able to provide?
Today, you’ll discover two 'obvious' methods that you can use right now to completely knock out your student loan debt.
Listen now!
Show highlights:
- Two 'obvious' ways to pay off your student loan debts completely (and be free from the chains of debt) (1:26)
- How to get an extra $2,500 a month tax-free (and cover off debt up to $450,000 over a 15 year period) (1:39)
- How to securely cover tens of thousands in increased medical and living expenses (by taking full advantage of your existing insurance policy) (4:02)
- Why being cheap when it comes to your insurance policy is the best way to be stuck in student loan debt forever (4:18)
If you became permanently disabled, would you be able to pay off your student loan debt?
The average student loan debt for a physician is $201,490. In other words, that's $2,288 a month, paid every single month for the next 10 years.
How would you be able to cover this expense if you weren't able to work anymore? What would happen to your house, your car, your kids, and your family? How will you be able to keep the lights on when you're not able to provide?
Today, you’ll discover two 'obvious' methods that you can use right now to completely knock out your student loan debt.
Listen now!
Show highlights:
- Two 'obvious' ways to pay off your student loan debts completely (and be free from the chains of debt) (1:26)
- How to get an extra $2,500 a month tax-free (and cover off debt up to $450,000 over a 15 year period) (1:39)
- How to securely cover tens of thousands in increased medical and living expenses (by taking full advantage of your existing insurance policy) (4:02)
- Why being cheap when it comes to your insurance policy is the best way to be stuck in student loan debt forever (4:18)
You already know that disability insurance is something you need to have as a medical professional. But as your income increases over time, you may wonder which option is the best for you.
To help you cut through the clutter, Billy takes a closer look at the top insurance plans for physicians in the market. This week, he explains one of the most popular ones: Guardian.
Listen now to discover the pros and cons of the most popular insurance plan for physicians across the country. Plus, find out which coverage plan option is the best for you.
Show Highlights Include
- Two ways to increase your coverage with Guardian (0:37)
- A tricky clause that could get your Benefit Purchase Option Rider canceled (and how to keep it) (2:36)
- The three exceptions to your Benefit Purchase Option Rider that allow you to upgrade your insurance coverage early (3:22)
- 2 reasons to choose the Future Insurability Option ( even though it’s more expensive) (4:54)
- How the Future Insurability Option saves you loads of money if you‘re planning on moving to another state (7:06)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
As a physician, long-term disability insurance is a must. And as your salary increases, you’ll need to increase your coverage as well to match your income.
But navigating insurance policies can be a nightmare. With so many different options, it takes forever to cut through the clutter and pick the best fit for you.
To help you decide, Billy explores the best policies on the market. Tune in as we take a closer look at the coverage increase rider that comes with the MassMutual specialty disability policy.
Show Highlights Include
- The #1 reason you must consider getting a private policy for your coverage early in your career(0:52)
- Two ways MassMutuals allow you to increase your coverage (and how to choose the best fit for you) (1:33)
- The two exceptions to your Benefit Increase Rider that allow you to upgrade your insurance coverage early (4:36)
- The "gotcha" clause that can cancel your Benefit Increase Rider (and what you need to do to keep it) (5:04)
- Why paying extra for the Future Insurability Option is better for high earners (6:02)
- How to pick a policy if you’re planning to move to another state (7:53)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
If you’ve ever looked into disability insurance coverage, you know that it can be confusing. There are so many terms and definitions that it can make your head spin. But if you focus on the essentials, it becomes easier to understand.
In this episode, Billy goes over the 4 key elements of a disability insurance policy that you must understand, and explains why they matter to you and your family.
Highlights from this episode include: * The 4 key elements of disability insurance and why getting them wrong can end your life as you know it (1:01) * The devious way insurance companies can prevent you from earning income outside of medicine (2:08) * The benefit you must have in the event of a partial disability (3:06) * This mysterious benefit is essential but almost completely unknown by most physicians (3:49) * The almost magical trick to saving money on insurance, even as your income rises (5:50)
You probably already know that disability insurance is something you need to have, but you might have wondered if you need it while you’re young and not making much money.
In this episode, Billy discusses the benefits to getting your disability coverage as soon as possible, and why waiting could leave you without insurance when you need it most.
Highlights from this episode include: * The #1 reason you must consider getting your coverage as early in your career as possible (1:01) * Your financial exposure is higher than you think as a resident and how to protect your future (1:56) * Why the discounts you get now save you even more money later (3:57) * How to make the process as painless as possible, even when you feel like you don’t have a minute to spare (7:18) * The life-changing risk you take by waiting to purchase your insurance (7:55)
Getting your own specialty disability coverage is one of the best decisions you can make for your financial future. But should you try to do it by yourself? If you’ve ever looked into disability insurance, you probably know that policies are filled with confusing language and definitions. And to top it all off, companies use their own special names that don’t always make sense.
And then there’s the medical and financial underwriting process that can be tough to do on your own.
In this episode, Billy goes over the most important things to be aware of when purchasing disability coverage, and why having a specialist guide you through the process can make it much faster and easier than you ever thought possible.
Highlights from this episode include:
- Get these policy details wrong, and the insurance companies will just take your money while you struggle to support your family (:58)
- How to breeze through underwriting, saving you tons of time, while still getting the disability coverage you need (3:05)
- Why your medical history is not necessarily a deal-breaker and how to get the coverage that could prevent a financial catastrophe (4:30)
- The horrifying scenario that can result in you being approved for a policy, but not being paid benefits when you need them most (5:13)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
When it comes to you and your disability insurance, words matter. Specifically the policy language that defines your occupation. How this part of the policy is worded can make the difference between the insurance company paying you during a disability, or leaving you high and dry on a technicality.
In this episode, Billy discusses how this definition should be worded and common pitfalls that doctors like you need to be aware of when it comes to disability insurance.
Highlights from this episode include: * Why the wrong occupational definition could bankrupt you and your family (1:46) * How to continue earning a living, even when you can’t practice your specialty… And still keep your insurance benefits (2:41) * Is the policy provided by your employer good enough? Not if it doesn’t have this specific feature (3:12) * The commonly misunderstood emotional cost of disability and how to protect yourself from mental breakdown (4:45) * If your policy has this common definition of your occupation, you’re heading for financial ruin (5:34)
Buying disability insurance can be confusing—especially as a physician. With all the different levels of experience, specialties and more it’s easy to get overwhelmed by all the options.
But when you have a clear overview, your confusion fades and you get confidence that lets you make a great decision for yourself and your family.
If you’re in a non-surgical specialty and want to discover what disability coverage is right for you, this episode is for you.
To simplify this, I’ll reveal a free spreadsheet to you navigate the various coverage options available so you can make the most informed decision.
In this episode, I’m going to walk you through how to read this spreadsheet to help you build even more confidence when choosing disability coverage.
You’ll also find out why I only endorse 4 out of the 70 companies that sell coverage and why it’s vital no have “no moving parts” when choosing a package.
Listen now!
- The most common question about the disability coverage spreadsheet (and the answer that removes your confusion) (1:20)
- The only 4 companies you should trust for your coverage (and how to spot suboptimal policies) (4:52)
- Why “non-cancellable” and “guaranteed renewable” should be in every disability policy you take on. (5:37)
- Discover how to pay for your coverage if you don’t have $5,000 for premiums (6:53)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
You're a busy physician. You barely have time to think, let alone worry about things like disability insurance policies.
But the wrong policy could mean the difference between being able to support your family and losing everything if you can't work due to an illness or injury.
That's why we're here to help.
In this episode, you'll get a 30-minute rundown of the policy spreadsheet, so you never have to wonder again if you're getting the best coverage for you and your family.
Listen now!
Show highlights include:
- Why there are only 4 policies that cover you fully (even if there are hundreds to choose from) (3:54)
- Prevent your insurance company from decreasing your coverage by looking for these 2 terms in your contract (4:57)
- Why an extra 90-day “nest egg” can slash your insurance premium (6:55)
- How to keep working after you claim disability insurance without sacrificing your payout (7:47)
- How to lock in a “trainee” discount (even if you want to increase your coverage as an attending) (12:27)
- A loophole with AmerUs that lets you profit from minor injuries (even if you got the injury skiing, and even if you can still work) (19:25)
- The “good health benefit” that pays you sooner in the event of a disability (20:58)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
As an early-career doctor, you’ve barely got a spare minute to yourself. The last thing you want to do is spend hours poring over insurance policy options.
But choosing the right disability insurance policy is one of the most important financial decisions you’ll ever make. Without it, you could lose your biggest asset: your ability to earn an income.
Thankfully, brokers make your life easier by comparing policies for you. But the wrong broker makes you pay a lot for incomplete coverage!
In this episode, we help you identify good brokers by applying the golden rule: "the rate is the rate". You'll also discover some common "red flags" to spot a shady broker.
Listen now!
Show highlights include:
- Why “shopping around” for the cheapest broker now could force you to overpay for the rest of your life (1:35)
- How to stay insured when you work abroad (without hunting for an overseas broker) (3:47)
- Why good brokers advocate for you in the event of a claim (even if you don’t pay them any more) (4:11)
- Avoid hours of being on hold with your insurance company by signing one piece of paper (4:50)
- The most common “red flag” that leaves doctors disabled without an insurance payout (5:26)
- How shady brokers pay themselves twice while ripping you off - beware of the “step premium” (6:08)
- Why you should run the other way if your broker insists on “medical before quote” (7:47)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
You know that disability insurance protects you if you are injured and unable to work, allowing you to still provide for your family. But what about the true worst-case scenario… Dying and leaving your family without any financial resources at all. This is where life insurance plays a significant role in your financial plan.
In this episode, Billy discusses how to calculate the proper amount of life insurance, and important factors to consider when purchasing your policy.
Highlights from this episode include:
- This life insurance calculation helps make sure you have enough coverage to keep your family from starving (0:54)
- The economic circumstances you must consider to be confident you have enough insurance (3:47)
- Many physicians fail to consider these factors when purchasing life insurance (2:09)
- Why the wrong mindset on life insurance can destroy your legacy (6:01)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Ameritas, one of the largest disability insurance companies, has two fixed premium choices. And while one is more expensive than the other, it doesn’t make it the best rate. Or even the one you should choose.
There are many reasons to pick a policy. But you shouldn’t depend on price alone (especially when those prices can change).
Knowing the nature of a policy helps you make the best choice. So that you can focus on work (without the worry of increasing policy rates).
Listen now to find which coverage keeps you secure (and which restricts you by rates).
Show highlights include:
- How to pick a premium option that compliments your career (instead of depending on the price). (1:10)
- How to keep your rates from the ‘Red Tape Nightmare’ and avoid paying more out of pocket. (2:32)
- Why policy holders won’t raise their rates overnight. (4:27)
- How to find the ‘Sweet Spot’ in your coverage and avoid overpaying for life. (5:58)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
When it comes to getting reimbursed for any injuries, there are 4 top tier companies that offer a non disabling injury benefit in your contract. But knowing how this benefit impacts you makes all the difference in your next injury.
You don’t want to fall in debt or lose your job over a sprained ankle. Risks are everywhere and protecting yourself is the key to a long and successful career.
Listen now to improve your finances and peace of mind through this top tier injury benefit.
Show highlights include:
- How to get reimbursed for any injury (no matter how it impacts your career). (1:17)
- Why Ameritas covers up to 50% of your injuries (regardless of health insurance). (3:24)
- How to make the most money from your contract using the Sprained Ankle story. (3:44)
- How to protect an active lifestyle and preserve your way of living (without the fear of injury). (4:20)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Top insurance companies are quick to roll out the red carpet for physicians-in-training. They offer large discounts and quick medical scanning.
It’s a great deal if you can afford it. But it’s not as easy putting your life on hold and going into debt for a career. It’s difficult getting the best discounts for your career and health. Budget shouldn’t get in the way of affording the life you deserve.
Listen now to budget for the disability insurance that protects your career (and preserves it for life).
Show highlights include:
- Why disability insurance is more important than income, investments, and retirement plans altogether. (2:38)
- How to preserve your health and lower the risk of injury on the job. (5:25)
- How to afford more coverage throughout your career (regardless of any health changes). (7:15)
- How to lock in discounted training rates and avoid medical screenings for life. (8:04)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
When you feel unsure about picking a policy, a broker agent can influence your decision. Trust is important. You should have an agent who is always looking for your best interest in a policy.
You want to have confidence an agent is on your side and always advocating at your time of claim. A policy should feel in your control (and not the other way around).
Make sure you’re on the right page with your broker agent. Trust is key to your perfect policy.
Listen now to find out if you can trust what your agent has to say (and the ultimate decision you make).
Show highlights include:
- How to tell if you can trust what a broker agent tells you (and the policies they present). (0:39)
- Transforming a bland, unsupportive policy into your biggest advocate for claims and incentives. (1:37)
- How to pick the perfect policy for you (without getting distracted by big names and contracts). (3:05)
- How to tell if you are being given a part of a disability policy or the whole thing. (4:40)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
AMA leads as the big influence in disability policies. But their prices may not be worth the coverage you get. A true policy lets you earn unlimited benefits (and keep the benefits you have). There are a lot of gaps in AMA policies. And at the end of the day, you need control over your policy.
Is AMA here to protect you or collect from you?
Listen now to see if you can trust what AMA policies have to say.
Show highlights include:
- The most significant gap in AMA policies (and how to protect and collect your coverage today). (1:31)
- How to keep discounts for life (without someone trying to raise or remove them).(3:42)
- Why you can earn unlimited income with your policy (and keep the benefits you already have). (4:33)
- How to collect for over a decade by avoiding this own specialty clause. (4:38)
- Why AMA’s cheaper prices aren’t worth the policy (and how to think ahead). (8:12)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
There are so many different options when it comes to choosing your insurance plan. From future insurability potential to benefits that will increase as your earning does, choosing between the wide array of plans can become overwhelming quickly.
When looking toward your future, it can be even more difficult to decide whether you should bet on your future earning capabilities, or go with a plan that increases as your income does.
In this episode, I’ll walk you through the benefits and pitfalls or the future insurability and benefit-increase options to prepare you for choosing an insurance plan that will truly work in your favor as you move forward in your career.
Show Highlights Include
- The future insurability option writer that can get you up to $20,000 a month of coverage (1:30)
- The massive downside of exponentially increasing your coverage as your income increases (2:45)
- How to increase your insurability without paying an ongoing fee (3:35)
- The financial formula you and your broker should use to determine your increase eligibility on your insurance (4:00)
- The big stipulation that will automatically remove your benefit-increase writer from your mass mutual policy (4:25)
- Why the future insurability option can massively cap your insurance coverage (even if you don’t want to) (7:15)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
If your employer provides you with a group disability insurance plan, buying private coverage might feel redundant.
But if you do become disabled, you don’t want to lose the lifestyle you’ve worked so hard to achieve.
So collecting both seems like a great way to ensure you and your family miss nothing. In this episode, you’ll find out all about collecting disability insurance from two policies.
Listen now to discover how to maximize your payouts if you become disabled!
Show highlights include:
- Why your private policy lets you collect benefits on disabilities group insurance doesn’t even cover (1:41)
- How private coverage always adds to your employer’s policy (2:37)
- Why your employer’s group policy might not pay out (even if it specifies 60% of your salary) (4:17)
- The sneaky way your employer’s policy might be a false sense of security (4:38)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Many trainee physicians are afraid of needing disability leave. As a trainee, you don’t have guaranteed job stability and insurance coverage like full time residents or fellows.
That makes it tough to worry about an accident or needing disability leave.
Disability insurance promises you peace of mind. But it’s tough to find the right policy: Some providers don’t offer much coverage, they’re expensive, and they cap your future coverage.
This episode shows you the key elements to look at to find a policy that secures your family’s lifestyle.
Listen to discover how to maximize your insurance for stability—even as your career advances.
Show Highlights Include:
- What financial underwriting occurs when purchasing disability insurances a trainee (1:33)
- How getting the wrong policy as a trainee could cap how much coverage you get as a full time resident (1:33)
- Why insurance companies don’t care if residents take disability… but worry about giving trainees too much coverage (3:00)
- The most important factors to find an insurance policy that lets you keep your lifestyle (4:30)
- Why getting a disability policy as a “locks in” a discount for the rest of your career—regardless of your health(5:45)
- How to maximize your insurability throughout your career as a resident (6:00)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Employers of resident or fellow physicians often provide Long Term Disability coverage. But does that coverage mean you can’t get your own LTD insurance?
The good news: An employer plan does not stop you from getting additional, private insurance.
But not all insurance plans are created equal. If you want the most comprehensive long term disability coverage, you have to be aware of a few catches.
If you ignore these, you might find yourself with too little coverage in an emergency.
Listen now to discover how your employer’s insurance plan impacts your personal LTD decisions!
Show Highlights Include:
- Does your employer’s policy keep you from maxing out your own private LTD insurance policy? (0:54)
- How much private insurance can you purchase? It depends on your medical specialty (1:44)
- Why having your own and your employer’s policies can keep you from getting the full benefit out of each (2:20)
- How combining your employer’s group policy and your own private insurance can raise or lower your taxes (2:45)
- How your insurance plan is calculated differently as a trainee vs. an attending physician (and how much coverage you can purchase as a trainee) (3:06)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
When you advance from a resident or fellow physician to an attending physician, your income grows. And with more income, you can increase your disability insurance.
But how much disability insurance should you have? Are your benefits going to be taxed? And why doesn’t your policy cover 100% of your salary?
You might not be asking yourself these questions today. But answering them means you get to keep your lifestyle if you become disabled.
Don’t let confusion stop you from getting the disability insurance you need.
Listen to discover how to maximize your disability coverage!
Show Highlights Include:
- Why an early medical screening gets you the optimal private disability policy (1:07)
- How big insurance companies calculate your maximum disability coverage (and how that lets you get the best possible policy) (2:08)
- Why private disability insurance only covers about 55% of your salary (3:14)
- How to ensure any disability payouts are tax-free, spendable cash that maximize your quality of life (4:48)
- How your state’s tax rate affects your insurance coverage (5:41)
- Pay increase? Here’s how that new salary affects your disability policy (6:49)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Many young physicians wonder if the Cost Of Living Adjustment is an important insurance rider. They want to know how a COLA works and how it's calculated.
By earning interest, a COLA ensures that disability payments keep pace with inflation.
But not all COLAs are the same, and you may not even need one.
Listen now to discover everything you need to know about COLAs!
Show Highlights Include:
- How a COLA insulates your disability payments from changes in the economy (1:21)
- You aren't required to have a COLA — but without one, inflation will eat away at your benefit payments (1:55)
- The major benefit of a compound-growth COLA over a flat 3% option (2:36)
- How to get a COLA that compounds at up to 6% interest — and why that's not always the best choice (3:13)
- Does the COLA calculation matter? (4:43)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
When considering your insurance options, you may have come across the Mental Nervous benefit.
This confusing benefit has a very specific purpose: to cover your psychiatric care.
But what is psychiatric care, exactly? What disabilities does this benefit cover? And how long does it pay?
There is a lot of confusion around the Mental Nervous benefit. And in today's episode, you’ll get a clear understanding of when this psychiatric benefit applies to you.
Listen now to discover the ins-and-outs of the Mental Nervous benefit.
Show Highlights Include:
- The three disabilities that trigger your Mental Nervous benefit (1:29)
- How long does psychiatric care last under your Mental Nervous benefit? (1:42)
- Why the Mental Nervous benefit's payout doesn't cover nervous system problems like Parkinson's disease or Alzheimer's (2:33)
- How to talk with your insurance provider about psychiatric care under the Mental Nervous benefit (3:38)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Your disability insurance policy may include a Future Insurability Option. With an FIO, you can increase your coverage without an updated medical review.
This allows you to increase coverage throughout your career.
But what if you don't take this option, or you let it lapse? When you find yourself in need of more insurance, it can be costly — or outright denied.
Don't leave your future disability insurance up to chance.
Listen now to discover how to keep your future insurance options flexible.
- Why getting an inexpensive FIO early in your career can save you thousands of dollars (1:00)
- How to get the most from your FIO before you reach your insurance company's age limit (1:50)
- Why getting an early medical screening may limit your Future Insurability Options (and what to do when that happens) (2:33)
- Red flags that an insurance provider might not honor your original FIO (4:09)
- Why getting an FIO is most important when you're on a tight budget (5:55)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
To get disability insurance, your provider needs to review your medical history. That history is your medical underwriting. It determines your insurance rates. And once that insurance cost is set, it only covers your income at the time of that review.
What happens when you make more money? With a Benefit Update Rider, you have the option to increase your coverage to match your income.
These Benefit Update Riders have limits that you must know if you want to maximize your coverage.
Don't get stuck with an outdated policy. Discover how a Benefit Update Rider gets you the most out of your disability insurance.
Listen now to find out how to keep your insurance costs low and coverage high.
Show Highlights Include:
- Why you want to buy a Benefit Update Rider early in your career (1:11)
- The "gotcha" clause that can cancel your Benefit Update Rider (and what you need to do to keep it) (2:58)
- How to avoid a review of your medical underwriting to keep your insurance costs low (4:15)
- Why your insurance provider sees you as a statistic -- and how to use this to your advantage (6:20)
- The three exceptions to your Benefit Update Rider that allow you to upgrade your insurance coverage early (7:17)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Combining your disability coverage with life insurance sounds like a smart financial move. You want to cover career gaps after an injury and get the coverage that always protects your loved ones.
But having a sustainable financial future starts with knowing what discounts work for you. Combining policies is a case-by-case situation (and you don’t want to stack your policies on bad advice).
In this episode, you’ll discover the best way to combine your policies for protection that lasts a lifetime (and if it’s right for you).
Highlights from this episode include:
- The contract trick for getting more discounts than you ever imagined. (1:50)
- How to get extended grace periods and all the exceptions you need in your coverage today. (3:04)
- How to avoid the ‘chop shop’ company policies that suffocate your finances and play by the book. (4:20)
- The smartest time to diversify your insurance coverage. (4:54)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
When it comes to policy shopping, you might combine disability coverage with life insurance. But you want to make sure you get the most protection (without paying the most in fees).
There are a few things to consider in the underwriting process of combining plans. Getting the best rates is about knowing how discounts work for you.
In this episode, you’ll discover how to find the best rates for combining plans (and if it’s the right move for you).
Highlights from this episode include:
- The most efficient underwriting process for getting $1 million of no-exam coverage. (1:04)
- Why purchasing life insurance at your healthiest locks in the best rates right now. (2:26)
- The ‘Smart Term’ strategy for making coverage less expensive and longer-lasting. (3:58)
- Why life insurance is the best way to protect your wallet today. (5:06)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
It might feel like a waste of money getting coverage if you don’t perform extensive surgeries or exhaust your body every day. But a policy is about much more than preventing injuries….
The perfect policy will take care of your income when you’re sick or injured. Those things happen all the time and you need time to recover (without stressing about your next check). Cover will make sure your income recovers (even after you do).
In this episode, you’ll learn why everyone outside the operating room needs specialty coverage - and how to protect your money and preserve your career from unlikely accidents.
Highlights from this episode include:
- Why car accidents and hand injuries are not the biggest threat to your medical career today (even if you work in a high-paced environment). (0:44)
- How to collect a streamline of disability benefits and make as much money as you want at home after being injured. (1:59)
- Why group disability plans won’t always cover your injuries (even if you’ve got a valid reason). (3:54)
- How to tell if a policy will protect your finances (or leave you ‘high and dry’ in stressful circumstances). (5:38)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
You might think you’re medically ‘uninsurable’ based on something that’s happened in the past…but conversations about coverage don’t end with a ‘yes’ or ‘no’ answer.
And by asking the right questions and knowing what options are available, you can explore the alternatives and find a powerful plan that protects your career (even if it’s not the one you wanted).
Remember: Everything is temporary.
In this episode, you’ll discover how to find the best coverage if you think you’re uninsurable and why asking the right questions offers your career more benefits and protection than you think.
Highlights from this episode include:
- How to ask the right questions if you think you’re uninsurable. (0:28)
- The ‘silver lining’ in turning your insurance rejection into future coverage. (1:50)
- Why “settling” for a smaller carrier offers a better policy than a big-name company. (2:30)
- How to avoid the pitfalls of self-insurance and find a policy that preserves your career (and protects every move). (3:38)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
If you can’t land the best contract available or get the disability benefits you want, it might feel like it’s not worth paying for. But as strange as it may seem, policies with exclusions are better than no policy at all.
You might have a less-than-perfect offer right now, but find ways to improve your policy in the future. As the famous saying goes: Don’t miss the forest through the trees.
In this episode, you’ll discover what to do when your options in disability coverage are limited - and why getting a plan in place is more important than getting the plan you want.
Highlights from this episode include:
- How to weaponize your rocky medical history and find the coverage that best defends your health. (0:40)
- What the “as of now” phrase means for the policy you were offered today, and how to get exclusions removed or riders included in the near future. (2:41)
- Why self-insuring quickly drains your finances and how to pick a policy worth every penny (even if it’s limited). (5:50)
- The ‘bad news, good news, and better news’ about the disability coverage you select (and how to not let faulty assumptions pick the wrong plan). (8:08)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
When looking into insurance rates, you might notice that the cost of a disability plan for females is significantly higher. But you don’t want to settle on a plan that doesn’t protect and preserve your career (just to save yourself from paying premium rates).
So what’s the reason for the extra expense? And should you pick a plan based on price?
In this episode, you’ll discover how to find the maximum discounts as a female physician in the market and why your premium prices end up paying for themselves down the road.
Highlights from this episode include:
- Why disability rates for females are significantly higher and how to find the best discounts in the market (without signing off on a bad plan). (0:40)
- How the Disability Council statistics set your prices and why it is essential for female physicians to have a strong plan right now. (2:20)
- The real reason you should pay more money for a disability plan right now (and how life insurance helps you cover the costs later on). (3:49)
- What paying premium rates mean for buying a house, where your kids go to school, and how to plan for retirement. (5:20)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Nobody wants to plan for the worst, but when it comes to an unexpected disability on the job, you don’t want to be digging in your savings account just to cover the rent. With the right coverage, finances are immune to expenses and you can focus on your recovery (without worrying about missing work).
In this episode, you’ll learn how Principal disability insurance preserves your career today while protecting your wallet from the unexpected tomorrow.
- How Principal disability insurance immediately saves you from massive penalty fees and lost income during a disability leave. (0:58)
- Why you should frequently update your disability insurance and how this affects your income right now. (2:15)
- The discounts you need for psychiatric benefits and how to get support in your career for a lifetime. (6:03)
- The real reason cancer or a stroke messes with your disability coverage - and how to protect your bank account from catastrophic expenses today. (8:39)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
It’s hard to find the perfect policy for your unique situation. And with disability insurance, mistakes are costly - you can’t afford to find out about your contract’s details when you’re already disabled and can’t perform your job.
That’s why it’s important to make the right choice from the beginning. And that starts with choosing a provider you can trust. In this episode, I introduce you to Guardian, an insurance provider I believe to be trustworthy for multiple reasons.
Whether you’ve heard or Guardian or not, you’ll find out all about their policies in this episode so that you can make an informed decision.
Want to protect your and your family’s lifestyle no matter what happens to you? Listen now!
Show highlights include:
- The definition of disability you should look for in your insurance contract (this ensures you get coverage custom-tailored for physicians). (1:22)
- How the “future insurability option” lets you receive up to $30,000 per month while you’re disabled. (1:58)
- Why a Guardian contract insures you even when you’ve only lost part of your income. (2:52)
- The best contract for physicians who struggle with depression, anxiety and addiction. (3:35)
- How to increase your insurance benefit when cost of living goes up. (4:44)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
In various stages of your career, disability insurance could cost more or less. Preserving and protecting income starts with locking in the best rates price possible for you and your family. Save yourself the guesswork and know exactly how what top plans in the industry do to slash expenses and support the life you deserve during an emergency.
In this episode, you’ll discover learn about one of the best individual disability insurance companies, Ameritas, and how if their plans support your lifestyle for the long haul. or leave you waiting for your next paycheck.
Highlights from this episode include:
- How physicians end up loesing thousands of dollars each year and what coverage supports your life of unlimited income instantly. (2:50)
- The real reason disability checks take months to receive and how to get paid overnight instead (even if you’re still working). (4:30)
- What your next hiking trip or workout routine says about disability rates - and how Ameritas can make you money off the clock instantly. (6:38)
- Premium discounts worth the risk and how they can stockpile your savings instantly. (9:27)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Disability coverage plans can feel like a mystery if you don’t know how to read between the fine lines of your contract. And you shouldn’t be haveving to figure it all out during recovery while trying to recover and get back to work.
Understanding your plan before an accident is essential for an effortless claims process (so you won’t be sitting around wondering when or if you’ll get a paycheck).
In this episode, Billy joins Ameritas expert Dennis Peyton to discuss how to get the most out of your disability coverage and what contracts protect your career and financials the most (so you can have a speedy, stress-free recovery).
Highlights from this episode include:
- Reasons why a payment is prevented after filing for disability and how to get a claims paycheck deposited in your bank account within days. (0:40)
- Why individual plans preserve your finances instantly and how group rates end up costing you 3x as much down the road. (4:14)
- How to Read between the ‘fine lines’ of exclusions in your disability plan and why this changes depending on what company you sign with. (12:12)
- The surprising truth about switching occupations during a disability leave, and what this means for the money you claim today. (17:00)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
When looking at disability coverage plans, finding one that protects the career you love most and the money you’ve worked so hard for is crucial. And it’s easy to get lost in the lingo of the insurance world between policy definitions and what fits your particular situation.
ManyIn many cases, physicians even end up going back to clinical and doing things they don’t like because of ‘hidden definitions’ in their contracts. What’s the point of moving back to administrative duties when you’ve worked so hard to get where you are in your career?
In this episode, Billy is joined by Ameritas claims expert Dennis Peyton who digs deep into the definitions of your disability coverage and what policies protect and preserve the lifestyle you want.
Highlights from this episode include:
- Understanding the difference between group and individual policies - and what these definitions mean for coverage that protects you for a lifetime.
- How the wrong policy prevents you from returning to work and the crucial steps for preserving your career today. (9:30)
- How to immediately secure a disability claims paycheck while you recover. (19:50)
- What policies instantly put more money in your pocket and cover medical deductible from an injury (even if you have health insurance). (25:46)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
The only thing more difficult than deciding to get a disability insurance policy is deciding which one to buy. Which benefits will you actually need? How much will that cost you? It’s a lot for one person to think about…
But life insurance should alleviate stress, not cause it. With a little insight into one of the top disability contracts out there, you can find a plan that works with your career and budget. So if something happens on the job, you’re covered.
In this episode, Billy discusses what Mass Mutual disability coverage offers and if their plans support your career or just add to the expense.
Highlights from this episode include:
- How Mass Mutual disability coverage saves you thousands of dollars and protects your career (even if you get a temporary job). (1:17)
- Finding a partial disability plan that protects your bank account during recovery instead of stealing from it. (3:40)
- How to avoid paying inflation rates in a total disability plan (even after a decade). (5:22)
- How Mass Mutual’s student and service member policies offer premium rates that compliment your lifestyle today. (6:50)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
There’s a lot of confusion and speculation behind pricing special disability coverage. You might feel so overwhelmed by the wave of information that you put it off until you really need it. By then, your rates have skyrocketed beyond repair.
Preserving and protecting a career path starts with coverage that works with your wallet, not against it.
In this episode, I share the invisible expenses behind special disability rates and how you can design a plan for peace of mind.
Highlights from this episode include:
- The ‘ticking time-bomb’ that is making your disability rates more expensive each year. (1:10)
- How to pay the lowest rate possible right now (even if you want to change career paths later on). (2:36)
- Why most physicians get stuck paying premium prices and how you can protect your wallet (while paying discount rates). (4:24)
- A common misconception about disability coverage that’s harming your health right now. (6:13)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Some physicians rely on group insurance policies from employers. This saves money in the short term, but what happens when you move on to an employer that doesn’t offer coverage? Or open your own practice?
Many times the cost of disability coverage has skyrocketed, making it a financial burden.
But if you purchase private coverage early on, it will be cheaper but also portable. That policy will cover you no matter where your career takes you, allowing you to focus on your work, knowing your income is protected if you become disabled.
In this episode, I discuss why portability is important and how to get a policy that will protect you for your entire career.
Highlights from this episode include:
- How advice from group benefits people at your employer could cost you everything you have (2:53)
- Why cheap employer group policies are a huge financial risk (3:33)
- Why purchasing a policy as a trainee is a career-saving decision, even if you think you can’t afford it (4:01)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Healthy, young, non-smoking physicians typically think they can get away without having disability insurance. It makes sense — insurance can seem foolish when you’re healthy.
But what happens if you get sick? Healthy, young, physicians have a 25% chance of becoming disabled for 3 months or longer — and a 40% chance that a disability lasts 5 years or longer.
Even a 3-month break in income while your expenses add up can be financially devastating. But a 5-year gap can create financial doom.
In this episode, I’m sharing the most common types of disabilities and the only way to protect yourself from financial ruin should you become disabled.
Highlights from this episode include:
- Why healthy, young, non-smoking physicians need disability insurance more than any other type of physician (0:51)
- The surprisingly simple way to prevent financial ruin if you have a disability that lasts 5 years or longer (1:14)
- How a disability can bankrupt you (even if you can still perform some parts of your job) (3:02)
- How even the shortest disability can create financial chaos (4:43)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
The decision to purchase disability insurance is not always easy. After all, there are plenty of other things you could do with that money. And if your budget is tight, the decision gets even harder. Most clients want to know if they are at risk of becoming disabled.
The answer: surprisingly high. And there’s no way to know when it will happen or how long it will last. If you want to avoid financial ruin, you have to be prepared. Being prepared will give you peace of mind, knowing that you’re ready for whatever comes your way.
In this episode, I discuss current disability statistics, ways to reduce your odds of becoming disabled, and how to avoid a financial catastrophe.
Highlights from this episode include:
- Surprising news from current statistics about your risk of becoming disabled (and what you can do about it) (1:49)
- A simple way to drastically decrease your chances of experiencing a disability (3:58)
- Why medical problems spell disaster for your finances if you’re not prepared (4:22)
- A common misconception about disabilities that can leave you unprepared for their true cause (5:02)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
When money is tight, it can be tempting to pick up a disability policy with a cheaper premium. But that’s not always the best financial move for you. Often the policy that is cheaper today will cost you far more money tomorrow.
It’s critical for you to understand the difference between various premium structures. Then you don’t get stuck with a policy that costs more than it’s worth.
In this episode, I discuss the difference between level, step-level, and graded premium disability policies, and why that could save your financial life.
Highlights from this episode include:
- How to ensure that your policy premium will never increase over time (1:39)
- The sneaky reason why shady agents want you to buy graded premium policies (3:41)
- Why a cheaper price upfront costs you way more in the long run (4:23)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Many physicians hesitate to get disability coverage because they fear rising costs over time. There are plenty of horror stories of companies raising rates and terms unexpectedly, leaving doctors without the coverage they desperately need.
This is common with lower-tier companies. That’s why we don’t sell or recommend their policies.
In this episode, I discuss everything you need to know to get a disability policy that provides the right coverage AND won’t increase in price in the future.
Highlights from this episode include:
- Make sure your policy definition contains these words now or it’ll cost you in the future (1:32)
- How to avoid constantly increasing premiums (and decreasing coverage) (2:32)
- Why not getting a policy from one of the “top 4” companies can kill your career and ruin your finances (5:06)
- The insider’s secret to getting and keeping the best rates and discounts for as long as you have your policy (6:07)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Most physicians know about term insurance. It’s cheap, and if you die, your family gets paid quite a bit of money. Whole life insurance is another matter entirely. It is more expensive, more complicated, and typically pays a smaller death benefit. So why would you ever purchase it?
In this episode, Billy busts some financially irresponsible myths about whole life insurance, discusses why you should consider it, and how to structure a policy to get the maximum value for your dollar.
Highlights from this episode include:
- If you don’t purchase whole life from this specific type of company, you’re losing thousands of dollars (1:46)
- The mind-blowing reason whole life is more expensive than term insurance (3:03)
- Why the conventional wisdom on life insurance may leave your family in debt when you die (3:40)
- The one essential question you must ask yourself about life insurance (4:32)
- How to structure your whole life policy like a billionaire (5:27)
- The astonishing truth about where banks store their cash (6:26)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
This is a more personal episode than we’ve done lately, but with all that’s going on in the world right now, it seemed like the perfect time to explain why we at PPG love working with you. Having worked with thousands of physicians around the country, we have come to realize that there are a number of traits that really make doctors a special group of people, and in this episode Billy will discuss why you make the world a better place and the insurance business more enjoyable.
Highlights from this episode include:
- The truth about how you respond in times of crisis (2:09)
- These specific acts of selflessness set you apart from other professions (2:18)
- Why doctors can’t have a bad day (2:46)
- The bizarre way people seem to view those that help them in their most desperate times (3:54)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Being a physician can be extremely difficult. Long hours, tough working conditions, and having to witness life-altering medical conditions and even death on a regular basis. It can take a serious toll on your mental and emotional state. Every once in a while this can cause even the strongest doctors to have a breakdown… or worse.
So what if you can’t work and earn your salary due to a condition that isn’t a physical disability?
In this episode, Billy discusses how to get disability coverage in such a case, the options that are available, and how to determine if this option is right for you.
Highlights from this episode include:
- The secret to cutting through the confusion created by other agents and make sure you understand this benefit (1:33)
- If you’re in one of these specialties, you should get this coverage immediately (3:34)
- Insurance companies will use this to deny you psychiatric benefit coverage (4:54)
- When you can’t get the psychiatric benefit, this should be your very next step to protect your livelihood (6:19)
- The surprising truth about how long a psychiatric benefit is typically paid (7:32)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
You realize that it is essential to purchase disability insurance coverage as soon as possible, even before you’ve finished your training. But what happens when your income starts to increase, and the policy you have would no longer cover your expenses in the event that you couldn’t work.
In today’s episode, Billy discusses the best way to make sure your policy will grow along with your career, how to maintain the proper coverage definitions, and how to increase your benefits, even if your health has declined.
Highlights from this episode include:
- Why the government hates disability income insurance benefits (1:52)
- This helps you maintain your original discounts, no matter what changes in your life (4:07)
- How to get increased disability coverage guaranteed, even if your health gets worse (4:36)
- How to protect your financial well-being when the insurance company won’t let your purchase this coverage (6:16)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
There are a lot of moving parts to a disability policy, and this tends to lead to a lot of questions about what is covered and when. How long after a disability do benefits begin? What happens if you are disabled for a long time and prices of good steadily climb? These are some of the factors that can have a tremendous impact on your financial future.
In this episode, Billy discusses how to choose the proper elimination period, how to protect your policy from inflation, and why it sometimes makes the most financial sense to select the more expensive benefit when you first get your policy.
Highlights from this episode include:
- How to save even more money while still getting great disability coverage (1:16)
- The most financially sensible amount of time to wait before your policy pays you (2:17)
- The optional coverage that protects your policy from the devastating affects of inflation (3:56)
- How you can adjust your policy to match your needs as they change over time (6:30)
- Do this now to prevent the insurance company from denying you coverage when you need it most (7:15)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Much like disability insurance, many physicians don’t give much thought to life insurance early in their training. After all, your income isn’t as high, and you don’t have time to think about one more thing. But what would happen to your family if you suddenly died? They would still need income to get back on their feet.
In this episode, Billy discusses the reasons that early in your career is the time you most need to purchase life insurance, how to get the lowest possible rate and features that your policy must have.
Highlights from this episode include:
- You must take care of this one thing before considering term insurance (2:51)
- The surprising reason you should purchase life insurance, even with a negative net-worth (3:42)
- This is the time when you need life insurance the most (4:12)
- The secret to getting the lowest life insurance rate possible (6:20)
- If your term policy doesn’t have this feature, it may not cover you when you need it most (7:35)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
You know that disability insurance protects you if you are injured and unable to work, allowing you to still provide for your family. But what about the true worst-case scenario… Dying and leaving your family without any financial resources at all. This is where life insurance plays a significant role in your financial plan.
In this episode, Billy discusses how to calculate the proper amount of life insurance, and important factors to consider when purchasing your policy.
Highlights from this episode include:
- This life insurance calculation helps make sure you have enough coverage to keep your family from starving (0:54)
- Many physicians fail to consider these factors when purchasing life insurance (2:09)
- The economic circumstances you must consider to be confident you have enough insurance (3:47)
- Why the wrong mindset on life insurance can destroy your legacy (6:01)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Choosing the right disability insurance specialist is one of the most important financial decisions you can make. But if you choose poorly, you may not realize it until it is too late. You also want to make sure that you have a team of true professionals on your side to help you navigate the claims process if you ever have to use your coverage.
In this episode, Billy discusses the PPG Concierge Experience, and why it sets PPG head and shoulders above the competition in every area, from purchase through claim.
Highlights from this episode include:
- The 4 stages of the PPG Concierge Experience and why it is superior to any other offer currently on the market (2:00)
- Our proprietary process that saves you time AND money while also getting the best disability coverage possible for your situation (5:05)
- How we handle claims, even when you are completely incapacitated, so the money doesn’t stop coming in (6:42)
- Why selecting the wrong insurance professional can devastate your income in the event of a disability (3:05)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Disability insurance can save you from financial ruin if you’re not able to work, but what happens when you are no longer considered disabled, but are still in recovery. Maybe you can do part of your job, but not all of it, and your pay is reduced as a result.
If you worked with an experienced disability insurance broker, you may be covered!
In this episode, Billy discusses another under-the-radar option coverage that your disability policy should have, and how to get the benefits when you most need them.
Highlights from this episode include:
- This almost completely unknown benefit could be the difference between solvency and poverty (1:28)
- The average claim time for a disability policy and why you might not get any money for a much of that time… without this benefit (3:24)
- Why the recovery benefit is essential and why most insurance companies don’t want you to know about it (3:19)
- This is the only way you can be sure that you have access to the recovery benefit when you need it most (5:45)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
You know that you need a disability insurance policy, but what happens if you become partially disabled. Depending on your policy, you might not get paid a benefit at all if you can do a certain percentage of your required work. This leaves you unable to fully do your job (and get paid) and unable to claim disability benefits.
This is where the residual benefit rider becomes critically important. But you have to have an agent that understands exactly how this works.
In this episode, Billy discusses this additional benefit, how to ensure your policy has it, and a little known benefit related to this that you must have.
Highlights from this episode include:
- How the residual benefit prevents a financial tragedy when your policy wouldn’t pay otherwise (2:35)
- The devil is in the details, and why you need to fully understand policy definitions, or you could be paying for a policy that will never pay you (2:58)
- The rare but vital benefit that saves you from having to return to work before you’re physically capable of doing your specialty (3:09)
- How insurance companies may include a residual benefit, but still screw you out of the coverage when you need it most (5:45)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Getting your own specialty disability coverage is one of the best decisions you can make for your financial future. But should you try to do it by yourself? If you’ve ever looked into disability insurance, you probably know that policies are filled with confusing language and definitions. And to top it all off, companies use thier own special names that don’t always make sense.
And then there’s the medical and financial underwriting process that can be tough to do on your own.
In this episode, Billy goes over the most important things to be aware of when purchasing disability coverage, and why having a specialist guide you through the process can make it much faster and easier than you ever thought possible.
Highlights from this episode include:
- Get these policy details wrong, and the insurance companies will just take your money while you struggle to support your family (:58)
- How to breeze through underwriting, saving you tons of time, while still getting the disability coverage you need (3:05)
- Why your medical history is not necessarily a deal-breaker and how to get the coverage that could prevent a financial catastrophe (4:30)
- The horrifying scenario that can result in you being approved for a policy, but not being paid benefits when you need them most (5:13)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
If you’ve ever worked with a financial advisor on your investments and retirement, they may have brought up the subject of disability insurance with you. But should you purchase your insurance coverage from the same person who handles your investments?
In many cases, those individuals are more focused on the financial side of their practice, and are less likely to be well-versed in the nuances of insurance, particularly disability insurance.
In this episode, Billy discusses the reasons that disability insurance specialists can get you policies that pay a greater benefit and cost you less in premium than regular financial advisors, as well as other potential risks to making a purchase from the wrong person.
Highlights from this episode include:
- Why buying your policy from a specialist can save you from catastrophic financial loss (2:59)
- How a disability insurance specialist will cost you less money when you purchase, but get you more money if you have to use your policy (3:50)
- What insurance agents know about policies that financial advisors are ignorant of and how it can burn through your bank account (4:15)
- Why having the wrong person advise you on your policy can make the already complicated underwriting process a nightmare (5:20)
- The difference between an agent and an advocate and the stressful situation where the wrong one can ruin your life (7:35)
- What well-connected insurance brokers can do for you that no one else can (9:20)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
Insurance agents have gotten a bad name recently. At worst, you probably feel like they can’t be trusted, and at best you wonder if you couldn’t get your policy cheaper if you didn’t work with an insurance agent. In fact, a lot of our clients ask if it costs extra to work with us on their disability coverage.
The answer to that is a resounding NO, by the way!
In this episode, Billy discusses the benefits of working with a skilled and experienced disability insurance agent, and why it could cost you lots more if you tried to get this coverage on your own.
Highlights from this episode include:
- Knowing this one simple fact about how insurance rates are calculated will give you peace of mind when dealing with insurance agents (1:00)
- How insurance companies work to prevent agents from screwing you over (1:32)
- The frustrating truth about discounts and why it is essential to have a good agent represent you to get the best value (2:57)
- Why having the right representative will actually cost you LESS money when you purchase insurance (5:26)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
We are completely convinced that every physician should have an individual disability insurance policy. But what if you waited too long, or your medical history prevents you from qualifying for one? In that case, group coverage may be a good option.
In this episode, Billy discusses when you should opt in to your employers disability insurance, what to look out for when it comes to group coverage, and pitfalls that could leave you without insurance, even if you’re part of the policy.
Highlights from this episode include:
- The only people who should rely on group coverage and why it could bankrupt you if you don’t fall into that category (1:14)
- Why “adverse selection” can render group disability benefits worthless (2:16)
- Does your group policy define your occupation this way? If so, it could mean you get paid $0, even if you become disabled (3:00)
- The devious way coverage on your group policy can change without you even knowing about it (4:55)
- The spectacularly confusing way definitions vary in group disability policies and how it can destroy your financial plan (6:35)
- The ONLY way to ensure you actually protect your ability to earn a living with a group policy (7:30)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
You probably already know that disability insurance is something you need to have, but you might have wondered if you need it while you’re young and not making much money.
In this episode, Billy discusses the benefits to getting your disability coverage as soon as possible, and why waiting could leave you without insurance when you need it most.
Highlights from this episode include:
- The #1 reason you must consider getting your coverage as early in your career as possible (1:01)
- Your financial exposure is higher than you think as a resident and how to protect your future (1:56)
- Why the discounts you get now save you even more money later (3:57)
- How to make the process as painless as possible, even when you feel like you don’t have a minute to spare (7:18)
- The life-changing risk you take by waiting to purchase your insurance (7:55)
As a physician, there are seemingly endless demands on your time. From training to continuing education to your family… not to mention seeing patients, you feel like you’ll never get it all done. And you know you need disability insurance, but is it worth it to take the time for medical underwriting and add yet another thing to your list?
In this episode, Billy discusses the benefits of medical underwriting compared to a group policy, and how to slash the amount of time medical underwriting takes, so you get the coverage you need.
Highlights from this episode include:
- Why your guaranteed-issue policy is robbing you of benefits and how to fix it (2:10)
- The smart doctor’s secret to streamlining the underwriting process and not wasting time (2:38)
- Why group coverage policies cost you far more when you actually have to use them (3:37)
- How to dominate the medical underwriting process and get a policy that won’t destroy your savings (4:42)
- Why coverage offered to everyone… might not pay anyone (7:19)
When it comes to you and your disability insurance, words matter. Specifically the policy language that defines your occupation. How this part of the policy is worded can make the difference between the insurance company paying you during a disability, or leaving you high and dry on a technicality.
In this episode, Billy discusses how this definition should be worded and common pitfalls that doctors like you need to be aware of when it comes to disability insurance.
Highlights from this episode include:
- Why the wrong occupational definition could bankrupt you and your family (1:46)
- How to continue earning a living, even when you can’t practice your specialty… And still keep your insurance benefits (2:41)
- Is the policy provided by your employer good enough? Not if it doesn’t have this specific feature (3:12)
- The commonly misunderstood emotional cost of disability and how to protect yourself from mental breakdown (4:45)
- If your policy has this common definition of your occupation, you’re heading for financial ruin (5:34)
If you’ve ever looked into disability insurance coverage, you know that it can be confusing. There are so many terms and definitions that it can make your head spin. But if you focus on the essentials, it becomes easier to understand.
In this episode, Billy goes over the 4 key elements of a disability insurance policy that you must understand, and explains why they matter to you and your family.
Highlights from this episode include:
- The 4 key elements of disability insurance and why getting them wrong can end your life as you know it (1:01)
- The devious way insurance companies can prevent you from earning income outside of medicine (2:08)
- The benefit you must have in the event of a partial disability (3:06)
- This mysterious benefit is essential but almost completely unknown by most physicians (3:49)
- The almost magical trick to saving money on insurance, even as your income rises (5:50)
You’ve invested years of your life and thousands of dollars in your medical education and training so far. And you may believe that working in the healthcare industry makes you invincible. But what would you do if you woke up one morning and could no longer practice medicine? Do you have a backup plan?
In this episode, Billy discusses why disability insurance is an essential part of your professional life, and why you should consider protecting your income no matter where you are in your career.
Highlights from this episode include:
- Why one doctor had his colleagues rushing to get disability insurance as fast as possible (2:12)
- This tragic story shares a lesson on the right time to get disability coverage (2:46)
- The practical reason for having the right insurance agent if you become disabled (5:05)
- How to overcome the untimely end of your medical career (7:33)
- How to get disability coverage for less than you thought possible (8:04)
Don’t let accidents, illness, or injury destroy your hard work. 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.
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 C.Y.A. Podcast, Billy Gwaltney shows you exactly what you need to do to protect your income and your way of life.