As a resident physician, your most valuable asset isn’t your car, your home, or your investments—it’s your ability to earn income in the future. After years of education, training, and delayed earnings, an injury or illness could be financially devastating if it prevents you from working in your specialty.
Many physicians understand the importance of disability insurance but wonder whether residency is the right time to buy it. The reality? The best time to get coverage is before you need it. Here’s why:
You’ll never be younger than you are today, and you know better than most that health can change in an instant. Disability insurance premiums are based on age and health, so buying coverage now means:
Lower Premiums for Life – You lock in a lower rate compared to applying years later.
No Pre-Existing Condition Exclusions – Any new health issues won’t impact your ability to get coverage later if you have the right policy in place.
During residency, many disability insurance carriers offer streamlined underwriting, meaning:
No Medical Exams Required – In most cases, there’s no bloodwork, urine tests, or medical exams.
Guaranteed Baseline Coverage – Residents typically qualify for up to $5,000/month in coverage, regardless of income or group benefits.
Minimal Financial Underwriting – No need to submit tax returns or proof of income to qualify.
🔹 Planning Note: Some policies allow you to start with as little as $1,000/month in coverage, keeping costs low while maintaining the ability to increase coverage later without medical exams.
Many disability policies include a Future Insurability Option (FIO), which means:
You can increase your coverage as your income grows—without future medical underwriting.
Even if your health changes, your ability to expand coverage stays intact.
This is crucial because your income will likely triple or quadruple after training, but your ability to qualify for coverage could change at any time.
If you join an employer with group disability coverage, that policy could:
Reduce how much private coverage you’re eligible for.
Limit benefit amounts or include weaker definitions (not own-occupation).
End if you leave the job, leaving you uninsured.
🔹 Planning Note: If you secure private coverage before you join a group plan, your existing policy won’t be reduced or impacted by employer coverage. This ensures maximum income protection over your career.
Physicians in residency or fellowship often have access to:
Discounted Rates – Many carriers offer training-specific discounts that disappear once you graduate.
Unisex Pricing for Women – Female physicians often pay higher premiums than male physicians, but special residency discounts can reduce costs significantly.
Multi-Life Discounts – If multiple residents at your institution get coverage through the same carrier, you may qualify for additional savings.
As a resident, disposable income is tight, but securing disability insurance now is a small financial step that can make a huge difference in your long-term security.
✅ Lock in lower rates for life
✅ Protect your ability to increase coverage without medical exams
✅ Avoid employer restrictions that could limit future options
✅ Take advantage of exclusive residency discounts
Disability insurance is a cornerstone of financial planning for physicians. Get the right coverage now—so your income, career, and financial future stay protected.