Physician’s Disability Insurance – Valerie King: Disability Insurance Saves a Family—Twice
Do Physician’s need Disability Insurance? Valerie King says she was “born to be a doctor,” but an illness ended her career. Her Disability Insurance policy helped this single mom raise her three daughters without financial worries.
Disability insurance is arguable the most misunderstood of all major insurances. “The most important insurance you’ll ever buy is disability insurance.” -Valerie King
Valerie King was not a believer. When she transitioned from her medical residency to practicing as an emergency room physician, she didn’t think she needed disability insurance. “I could never envision a life without working,” she says. Her insurance professional convinced the young doctor otherwise.
Her disability insurance allowed her to survive financially.
It was wise advice. Although Valerie never thought she would need it, a condition called ulcerative colitis made the decision for her. The disease and a series of surgeries made it impossible for her to carry out her duties, and she found herself unable to practice the profession she loved.
It was her disability insurance coverage that allowed her to survive financially and care for her three young daughters who she was raising as a single mother.
Life also had a second chapter for Valerie. She met and married Tim, also a divorced parent. They looked forward to raising their blended family together and sought the advice of insurance professional Larry Ricke, CLU, ChFC.
In addition to the life insurance he had recommended, Larry made sure Tim understood the importance of disability insurance. Tim didn’t believe he’d ever need it, but with Valerie’s urging he finally agreed to get coverage.
“No one thinks lightening will strike twice,” says Larry, “but in this case it did.” Tim, who had a high-profile position in the printing business, came close to dying from an undiagnosed aneurism and valve issue with his heart. A risky operation saved his life but ultimately left him unable to return to work. Again, disability insurance made it possible for the family to go on financially.
“Most people think, ‘It will never happen to me,’” says Valerie. “But the truth is it can—and does. Everything else goes away if you don’t have disability insurance coverage and you can’t work.”
Physicians Disability Insurance
Medical professionals, physicians and surgeons should consider a specific type of disability insurance that covers their specific occupation. These DI policies are designed specifically for their medical specialty and their own-occupation.
Disability Insurance Protects
Anyone with a career should protect their income with disability insurance. Even if you have group disability at work, it may not be enough.
Disability Insurance policies can be designed for most occupations and employment. Learn more about disability insurance.
Life Happens is a nonprofit organization dedicated to helping Americans take personal financial responsibility through the ownership of life insurance and related products, including disability and long-term care insurance. May is Disability Insurance Awareness Month.