I just figured out that getting term life insurance outside of work (partners) makes more sense because we can lock in rates whereas the rates go up as I age at work. I am charged a little over 1% of my salary to enroll in disability insurance that would cover 60% of salary in case of permanent disability. Do physicians in their late 30's/early 40's generally enroll in disability insurance through work or shop outside of work? Thanks!

Zip Code: 02114

Most physicians will own some individual disability insurance to best protect themselves.

While some hospitals mandate that you enroll in their group Long Term Disability (LTD) insurance plan, others offer disability insurance on a voluntary basis.

Depending upon your medical specialty, salary and career plans, at the very least, you should understand the pros and cons of your group LTD plan and investigate how it compares to individual coverage.

At that point, you can decide if you want to replace your group LTD (if possible), supplement your group LTD or keep things as they are.

If you would like to discuss the specifics of your situation, I would be happy to help.

You can also go to my website and read several of my "Disability Insurance and Financial Planning Articles for Physicians". You should find them to be very informative.

Larry

Zip Code: 11050