I have a question for any of you more experienced docs out there. I am trying to purchase disability insurance through Guardian. I hope to never have to use it, but since I am paying a hefty premium, I want to make sure that I can use it if ever needed.
It is a true own-occupation policy. In their policy, they stated that I would be considered fully disabled if I am unable to perform surgery, and that at least 50% of my income comes from surgery (which is basically defined as having to make an incision with the patient under anesthesia).
At least at this point in my career, I wouldn't want to be an ENT anymore if I can not operate. So I personally would like to consider myself fully disabled as an ENT physician in this case.
At first, I can justify that 50% of my income comes from some sort of procedure/surgical service - but based on their definition, clinic procedures wouldn't count. Secondly, my take-home income also includes ancillary income, which is separate from what I generate from patient care. To make things more complicated, I am paid like a salaried physician (W-2) with bonuses, which makes breaking down percentage of income from surgical services even more complex. It seems to me that if I were in a situation where I can no longer operate, but can still see patient, it would be very difficult to be considered disabled.
I'd love to get some input, especially if you have a policy with Guardian.
It is a true own-occupation policy. In their policy, they stated that I would be considered fully disabled if I am unable to perform surgery, and that at least 50% of my income comes from surgery (which is basically defined as having to make an incision with the patient under anesthesia).
At least at this point in my career, I wouldn't want to be an ENT anymore if I can not operate. So I personally would like to consider myself fully disabled as an ENT physician in this case.
At first, I can justify that 50% of my income comes from some sort of procedure/surgical service - but based on their definition, clinic procedures wouldn't count. Secondly, my take-home income also includes ancillary income, which is separate from what I generate from patient care. To make things more complicated, I am paid like a salaried physician (W-2) with bonuses, which makes breaking down percentage of income from surgical services even more complex. It seems to me that if I were in a situation where I can no longer operate, but can still see patient, it would be very difficult to be considered disabled.
I'd love to get some input, especially if you have a policy with Guardian.