Physicians Own-Occupation Disability Insurance
Physicians Own Occupation Disability Insurance designed for medical professionals. Own-occupation (Own Occ), long term, disability income insurance covers physicians in their specific line of work, and is only available through a limited number of insurance carriers.
Call 228-875-5545 or >Schedule a Meeting<
Physicians Own-Occ LTDI
Physicians can get a long term disability insurance policy (LTDI) with a true own-occupation definition of disability, and medical specialty language built into the contract.
If you have limited your occupation to the performance of the material and substantial duties of a single medical specialty, the carrier will consider that specialty to be your occupation.
True Own-Occupation Disability for Physicians and Surgeons
True Own-Occupation Disability Insurance for physicians and surgeons. Protect your medical specialty and income with long-term coverage. Serving Mississippi, the Southeast and USA online.
LTD – Disability Insurance for Doctors Quotes
Because medical occupations and incomes can vary dramatically, it’s important that we understand your particular situation completely before quoting you. Use this link to let us quote you.
You spent a lot of your time and money to become a doctor, it makes sense to have a disability insurance plan specific to your own occupation. A properly structured, long-term disability income insurance policy will protect you and your medical specialty in the event of a sickness or injury.
Protect Your Greatest Asset with Physicians Own-Occ Disability Insurance
Legacy Insurance Agency is an independent agency specializing in life and disability insurance for professionals. Protect your most valuable asset with disability insurance specific benefits for physicians and doctors.
- Physician
- Residents
- Interns
- Anesthesiologist
- Ophthalmologist
- Optometrist
- OBGYN
- Oncologist
- Dentist
- Dermatologist
- Emergency Room
- Radiologist
- Pathologist
- Surgeon
- Cardiologist
- Veterinarian
Own-Occupation – Sample Medical Specialties
- D.D.S. – Doctor of Dental Surgery
- D.M.D. – Doctor of Medical Dentistry
- D.O. – Doctor of Osteopathy
- D.P.M. – Doctor of Podiatric Medicine
- Dermatologists
- Cardiologists
- Otolaryngology/Head and Neck Surgery
- Endocrinologists
- Gastroenterologists
- Surgeons
- Obstetrics and Gynecologists
- Osteopathic Surgeons
- M.D. – Medical Doctor
- O.D. – Dcctor of Optometry
- Urologists
Virtual Family Office for High Income Doctors
Proactive planning for doctors and high-net-worth business owners seeking coordinated modern tax planning. Tax efficient wealth strategies for physicians.
We partner with forward-thinking CPAs, Attorneys and Advisors to offer our clients a Virtual Family Office (VFO) model.
Schedule a quick discovery call to see if this is a fit for your goals.
Disability Insurance for Business Owners
Coverage for Business Expenses
Your business has to its day-to-day expenses, including rent, utilities, and employee salaries and benefits.
Disability insurance can be tailored to cover these expenses, even if you’re unable to work due to illness or injury. We offer coverage that can reimburse up to 100% of covered expenses, to ease your cash flow worries.
Safety for Business Loans
Protect your business’ ability to pay business loans and other contractual financial obligations. Business purchase, start-up loans, equipment purchase, lease agreements and business expansion loans.
This coverage can fund up to 100% of regular payments. You can tailor the length of the policy to the duration of your loan, so you get precisely the coverage you need.
Disability Insurance for Business Partnerships
Protect your firm if your business partner becomes disabled. If you or your business partner is unable to continue working due to sickness or injury, we offer insurance to help the healthy partner buy the other partner’s share of the business.
Disabled? What are your chances?
You, disabled? What are your chances? It’s higher than you probably think.
You can ignore the problem, but it’s hard to ignore the facts:
- Just over 1 in 4 of today’s 20 year-olds will become disabled before they retire.
- Accidents are NOT usually the culprit. Back injuries, cancer, heart disease and other illnesses cause the majority of long-term absences.
LIMRA International is the leading insurance marketing research organization. In a 2015 Insurance Barometer Study, they found that 61% of Americans believe most people need disability insurance, but only 26% actually own disability insurance.
Quote and Apply for Physicians Own-Occupation Disability Insurance
Ready to apply? Get started with our pre-application and get a quote tailored to your specifice occupation.
Frequently Asked Questions About Own-Occ DI
What is Own-Occupation Disability Insurance?
Own-Occupation (Own-Occ) pays benefits if you cannot perform the material and substantial duties of your specific medical specialty, even if you can work in another occupation.
Why is true Own-Occ coverage important for physicians?
Many policies only pay if you cannot work in any occupation. True Own-Occ protects your high income and years of specialized training.
How long do benefits last?
Policies can offer benefits to age 65, 67, or even lifetime, depending on the plan.
Can I integrate this with Life Insurance or Proactive Planning?
Yes. We help coordinate disability coverage with life insurance and other financial strategies as part of a complete protection and wealth-building plan. Depending on your goals we team with other proactive advisors to serve you.
Do you serve physicians outside of Mississippi?
Yes. We work with physicians throughout Mississippi, Alabama, Louisiana, Tennessee, Georgia, Florida, and the broader Southeast. We serve the USA online and via our partnerships.
Learn More
See what you qualify for with a personal financial consultation. Or click this link for a brief call to learn more.
Learn about business strategies for medical practices and high income earners.
Student Loan Protection
Student loan protection offers more income replacement than with disability coverage alone. SLP is a smart and affordable way to keep your financial future on track.
Professionals such as physicians, surgeons, doctors, dentists and veterinarians are now graduating with, average student loan debt approaching $200,000.
Losing the ability to work can lead to debt and other significant financial problems, especially if this happens early in your career.
Protect Your Paycheck with Disability Insurance
How long can you afford to go without a paycheck?
Even if you have disability insurance through your employer, it may not be enough. And, if your employer pays a portion of the premium, benefits will be taxable.
Individual coverage paid for with after-tax dollars, generally offers benefit payments income tax free.
Disability Insurance Tax Considerations
The taxation of premiums and benefits for disability income (DI) insurance policies can vary. Taxation will depend on the ownership choice, beneficiary designations, and whether the policy is personally purchased or provided by an employer.
For business owners, disability insurance products can solve many business problems or fulfill personal and business objectives in a potentially tax-advantaged manner.
Individual disability income insurance through a personal purchase. As a general rule, the premiums paid for a DI insurance policy are not a tax-deductible expense. However, DI benefits are typically received income tax-free. This ensures that the policy owner receives the policy’s benefits during the time of a disability claim.
Disability Insurance for Medical Practice Owners
An owner employee may also maintain an individual DI insurance policy paid for by the business. Personal tax consequences and the tax consequences to the business depend on the structure of the business.
Legacy Insurance Agency offers the finest long term disability policies from the nation’s most respected carriers.Â
Research Data and Statistics for Disability
*Statistics from the Social Security Administration
*Statistics from The Council for Disability Awareness