How many physicians have disability insurance?

The other day, I was speaking with a number of physicians about disability insurance. Someone happened to ask, "how many practicing physicians have disability insurance?" The group began discussing various benefit packages and they concluded that physicians who are employed by hospitals, academic centers, and other large organizations have access to nice disability insurance options. In contrast, many physicians who are in private practice or in small groups are not given many options for disability insurance.

It seems like so many physicians are not thinking about the possibility of needing disability insurance. Perhaps we don't want to think about our own fragility. Maybe we don't want to face the chance that we will get struck with illness or get involved in a serious accident. I've known many younger physicians who are now disabled and a number of them did not have any disability insurance because they were not informed during medical school about the need for disability insurance.


  1. "Maybe we don't want to face the chance that we will get struck with illness or get involved in a serious accident." This is always the problem when dealing with insurance. For people who haven't made too many trips to the hospital, the value of insurance diminishes. Oftentimes it's too late when they realize how helpful insurance really is.

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  2. It's kind of funny that physicians themselves don't have insurance. Sure, they can help other people, but when disaster strikes, they can't exactly treat themselves.

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  3. Perhaps another reason is that many doctors see and hear of cases where the patients have to take the insurance company to court to pay out on their policy when something actually happens.

    Other issues are that any health condition increases the premiums. One doctor I knew with diabetes felt that the monthly fees were too high and simply set it aside into a pension fund. The same idea would apply then. Junior docs make sure they contribute to their retirement fund. Plan for the future.

  4. Accidents do not choose their victims. Thus, it is advisable to have a disability insurance no matter what is your job.

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  5. Maybe these private practitioners do not trust insurance companies. Everyone certainly needs disability insurance to be assured of getting financial support in case of accidents.

  6. I believe that most doctors are just saving their money on banks or investments instead of entrusting it to insurance companies. Maybe they just don't believe in these institutions.

  7. I think Doctor's don't need insurance because they believe that they could treat themselves in many ways and can used their contacts if ever.

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