Physicians may purchase up to $25,000/month of individual disability insurance. This is available when combining insurance from more than one company. The maximum amount available from any one company is between $15,000 and $17,000/month (depending on the company).
To obtain $25,000/month benefit, you need to be earning in the $700k to $800k range.
If you are earning more than $800k and need more than $25,000/month benefit, you may purchase excess coverage. This coverage typically will cover you for 5 years and requires you to reapply every 5 years. The policies will still cover you in your medical specialty and require the same type of medical underwriting. Companies will now offer up to $150,000/month of additional disability insurance benefit.
For more information about disability insurance for high income physicians or to request a quote, contact Set for Life Insurance today!