How much disability insurance do physicians need?

Enough to replace the income your household relies on if you couldn't practice. Individual own-occupation policies generally replace around 60 to 70 percent of income, and the right benefit accounts for any group coverage you already have. The specific figure depends on your earnings, your specialty, and your obligations.

I already have a policy. Can you give me an honest second opinion on it?

Yes. A review is an independent read of the coverage you already have. If it's solid, you'll hear that. If there are gaps, such as a weak definition, a missing rider, or an inadequate benefit, you'll understand them, and you decide what, if anything, to do next.

Los Angeles Physician Disability Insurance Near Me

Andrew D. Eddy

AIF® · ChFC® · CLU® · CFP®

CA Insurance Lic. № 0K02163

Physician Disability Insurance · Santa Monica & Los Angeles

Los Angeles Physician Disability Insurance near me

Own-occupation coverage pays based on your medical specialty. A weaker any-occupation definition pays only if you can’t work at all — and that one distinction decides whether your policy actually protects you.

Talk Through Your Options →

20 minutes · Complimentary

Which definition of disability actually protects a physician?

For a specialist, the most important words in a policy aren’t the benefit amount — they’re how it defines being unable to work. A condition that ends your ability to practice your specialty may not stop you from working at all. Whether your policy pays then comes down to four distinctions:

True Own-Occupation

The definition that matters

Pays if you can’t perform the substantial duties of your own medical specialty.

Benefits may continue even if you earn income in another capacity, depending on the policy’s definition.

Any-Occupation

The weaker definition

Pays only if you can’t work in any gainful occupation at all.

Common in group plans — and far less protective for a specialist.

Group / Employer LTD

Often not enough on its own

Watch for: any-occupation language, capped benefits, and coverage tied to your job.

Employer-paid benefits are generally taxable, and rarely follow you if you leave.

Individual Own-Occ

Portable & specialty-specific

Specialty-specific definition, portable, and yours to keep.

Benefits are generally income-tax-free when you pay premiums with after-tax dollars.

Already have a policy — or a proposal from a carrier? A review gives you an independent read on whether it protects your specialty.

Talk Through Your Options → Prefer to talk now?(310) 451-3339

What does a second opinion on your policy actually check?

Many physicians Andrew speaks with aren’t looking to start over. They own a policy, or they’ve been handed a proposal — but something doesn’t sit right. Across the physician policies he’s reviewed, the gap that shows up most often isn’t the benefit amount; it’s an any-occupation definition sitting inside a plan the doctor assumed was own-occ, or a group policy that quietly caps out below what the household actually needs. The review is complimentary — Andrew reads your contract and gives you an honest, independent take on where you stand.

What a second opinion examines

✓Definition of disability — true own-occupation, tied to your specialty?

✓Residual / partial coverage — does it pay if you return at reduced capacity?

✓Future-increase option — add coverage as you earn more, without re-proving health?

✓Cost-of-living adjustment — does the benefit keep pace over a long claim?

✓Benefit & elimination period — sized to your income and situation?

✓Group vs. individual coverage — how they coordinate, and where the gap sits.

✓Carrier strength — the company behind a contract you may hold for decades.

Bring your policy or the proposal you’ve received — or just your questions.

Disability income is one piece of a physician’s complete financial picture. See how Andrew works with physicians and doctors across Los Angeles, or review his full life, disability, and long-term care insurance overview.

400+

Hours of insurance study behind the CLU®

Physician disability coverage is often sold by agents tied to a single carrier. An independent Chartered Life Underwriter® reads the actual contract — the definition of disability, the riders, the exclusions — to assess whether it protects your specialty.

The Credential

A Chartered Life Underwriter® has earned an advanced credential in the insurance profession, representing eight or more comprehensive college-level courses covering all aspects of insurance planning, estate and retirement issues, taxation, business insurance and risk management. For more than 80 years, consumers have trusted this mark, which is conferred by The American College, a non-profit educator with the highest level of accreditation. The average study time for the program is over 400 hours and can take years to earn. Each CLU® must also complete a minimum of 30 hours of continuing education every two years and meet extensive experience requirements, ensuring the knowledge you’re counting on is both comprehensive and current.

Physician disability insurance — common questions

True own-occupation coverage pays your benefit if you can’t perform the duties of your own medical specialty — even if you’re able to work in another role. For a specialist whose income depends on specific skills, such as a surgeon’s hands, that distinction is the difference between a policy that pays and one that doesn’t.

It’s own-occupation coverage whose definition is tied to your medical specialty rather than to medicine in general. For a specialist — a surgeon, an anesthesiologist, an interventional cardiologist — that distinction is the one that pays: a condition can end your ability to practice your specialty while leaving you able to work in another field of medicine. A specialty-specific definition can pay in that situation; a broader one may not. Whether yours is specialty-specific is one of the first things a review checks.

It’s a starting point, but rarely sufficient on its own. Group plans often use a weaker any-occupation definition, cap the monthly benefit, and aren’t portable if you change employers. Employer-paid benefits are also generally taxable, which shrinks what you actually receive. A review shows the gap between your group coverage and what your income needs.

Enough to replace the income your household relies on if you couldn’t practice. Individual own-occupation policies generally replace around 60–70% of income, and the right benefit accounts for any group coverage you already have. The specific figure depends on your earnings, your specialty, and your obligations.

Many physicians secure coverage during training. Premiums are based partly on age and health, and locking in earlier — often with a future-increase option — lets you add coverage later as your income grows, regardless of changes to your health. Whether that’s right for you depends on your situation; a review weighs it.

It depends on who pays the premium. When you pay with after-tax dollars on an individual policy, benefits are generally received income-tax-free. Employer-paid group benefits are typically taxable. That difference matters when you size your coverage.

Yes. A review is an independent read of the coverage you already have. If it’s solid, you’ll hear that. If there are gaps — a weak definition, a missing rider, an inadequate benefit — you’ll understand them, and you decide what, if anything, to do next.

The most important isn’t a rider at all — it’s the own-occupation definition, which comes in degrees. True own-occupation pays full benefits if you can’t perform your specialty, even if you earn income in another field. Transitional own-occupation pays, but offsets benefits once your new income plus benefit exceeds your prior earnings. Modified own-occupation stops paying once you’re working in any other occupation. Beyond the definition, the riders that do real work are residual or partial coverage for a reduced-capacity return to work, a future-increase option to raise coverage as you earn more without re-proving health, and a cost-of-living adjustment. A review identifies which your policy has and which it’s missing.

Premiums for physician disability coverage typically run about 1–4% of annual income, depending on age, health, specialty, benefit amount, and the riders you include. Residents and fellows often qualify for discounts.

Premium figures are industry estimates and vary by carrier, specialty, age, and health. Cost range (about 1–4% of income): American Academy of Family Physicians, “A Practical Guide to Physician Disability Insurance.”

Have a policy, a proposal, or just questions about protecting your income?

Find out where your coverage stands.

In 20 minutes, you’ll get

An independent read on the disability coverage you already have
Straight answers about own-occupation language, riders, and gaps
A clear sense of next steps

Talk Through Your Options →

20 minutes · Complimentary

Prefer to talk now? Call (310) 451-3339.

Andrew D. Eddy

CFP® · AIF® · ChFC® · CLU®

CA Insurance License #0K02163

(310) 451-3339

eddyfinancial.com

Important Disclosure

Eddy Financial, LLC is not a licensed insurance entity. Insurance services are offered through Andrew Eddy, an individually licensed insurance agent in the state of California. Andrew Eddy’s California Insurance License is № 0K02163. When insurance coverage is placed through Andrew Eddy in his capacity as a licensed agent, he may be compensated by the issuing insurer.

This page is educational and does not constitute insurance, tax, or legal advice. Policy features, definitions, riders, availability, and tax treatment vary by carrier and by individual circumstances. Review any contract carefully and consult a qualified professional regarding your specific situation.

Physician and doctor disability insurance, own-occupation income protection, and fiduciary financial planning from a financial advisor in Los Angeles serving physicians, surgeons, dentists, and medical professionals across Santa Monica, Brentwood, Pacific Palisades, Westwood, Marina Del Rey, Culver City, West Los Angeles, Century City, Beverly Hills, Bel-Air, Malibu, and the greater Los Angeles area — including physicians practicing at and around major medical centers such as Cedars-Sinai, UCLA Health, and Providence Saint John’s. Andrew Eddy, CERTIFIED FINANCIAL PLANNER® certificant (CFP®) and Chartered Life Underwriter® (CLU®), located near me in Los Angeles.