As a physician, your most valuable asset isn’t your home or investments—it’s your ability to earn an income. A sudden illness or injury can disrupt years of training and dramatically impact lifetime earnings. At Diversified Insurance Brokers, we help physicians secure true own-occupation disability insurance designed for medical specialties, with options to protect current income, future raises, student loans, and retirement savings.

Why Physicians Need Own-Occupation Coverage

Own-occupation disability insurance pays benefits if a covered sickness or injury prevents you from performing the material and substantial duties of your medical specialty—even if you’re able to work in another capacity (teaching, admin, telemedicine) and continue earning income. This is different from broader definitions that require you to be unable to work in any occupation.

Key Features to Consider

• True Own-Occupation Definition: Specialty-specific language for surgeons, anesthesiologists, ER, interventional, etc.
• Residual/Partial Disability Rider: Benefits for partial loss of income or hours—common during phased return to work.
• Future Increase Options: Expand your monthly benefit later (fellowship to attending) with minimal or no medical underwriting.
• Cost-of-Living Adjustment (COLA): Increases benefits while on claim to help offset inflation.
• Catastrophic Disability Rider (CAT): Extra benefit for severe loss of independence/ADLs.
• Student Loan Protection: Dedicated benefit to help cover medical school or fellowship loans if disabled.
• Retirement Protection: Funds continued retirement contributions if you go on claim.
• Mental/Nervous Coverage: Look for favorable terms on psychiatric and stress-related claims.

Typical Benefit Design (Example)

Illustrative only. Actual eligibility, rates, and limits vary by specialty, age, income, state, and carrier.

• Monthly benefit: $10,000–$20,000+ (higher with financial underwriting; supplemental options available)
• Elimination period: 90 days is common; 180 days can reduce premium
• Benefit period: To age 65/67 or age 70; some offer limited-term lower-cost options
• Discounts: Hospital/association or multi-life discounts may apply for residents, fellows, and group practices

Underwriting Tips for Physicians

• Document income clearly: Base pay, production bonuses, call pay, and moonlighting.
• Leverage trainee discounts: Residents and fellows can lock lower rates and future increase options before income jumps.
• Address procedural risk: Surgical and interventional specialties should secure clear specialty wording.
• Coordinate with employer LTD: Individual DI can “stack” over taxable group LTD to reach your actual income need.

Real-World Scenarios

• Orthopedic Surgeon: Hand injury limits operative time by 60%. Residual rider pays proportionally to income loss while clinic work continues.
• Anesthesiologist: Neuropathy prevents safe performance of core duties. Own-occupation benefits continue despite transition to academic role.
• Hospitalist: Long-COVID causes reduced capacity; partial benefits bridge reduced shifts until recovery.

Common Mistakes to Avoid

• Assuming employer LTD alone is enough (often taxable and capped).
• Choosing “any-occupation” language that weakens claims for high-skill specialties.
• Skipping residual/partial riders—many claims are partial, not total.
• Waiting until after a diagnosis to apply—lock in coverage while healthy.

Our Process (Fast & Physician-Friendly)

1. Needs analysis: We quantify monthly income protection and rider priorities by specialty and career stage.
2. Side-by-side comparison: We shop multiple top-rated carriers and highlight differences in definitions, riders, and pricing.
3. Streamlined underwriting: We prepare the application, coordinate requirements, and pursue available discounts.
4. Policy servicing: Annual check-ins to adjust benefits as income grows or roles change.