Compare Physician Disability Insurance Quotes

Physician disability insurance is individual long-term disability coverage written for the way doctors actually earn a living. It replaces a share of your income — usually 60-70% of gross — if illness or injury stops you from practicing your specialty.

It is a distinct product from generic disability insurance for two reasons. First, the definition of disability is specialty-specific: a policy that pays a surgeon who can no longer operate is doing something a standard "any occupation" policy will not. Second, the pricing is set by occupation class, so a dermatologist and a neurosurgeon buying the same benefit pay very different premiums.

For most physicians the individual policy sits on top of a hospital or group plan rather than replacing it. Group LTD covers base salary; the individual policy covers the rest of what you earn, and pays tax-free.

Plan on 1% to 4% of your annual income — roughly $150 to $500 per month for most doctors. Career stage is the first cut:

Two dials then move the number in either direction. The benefit period — "to age 65" costs more than a 5- or 10-year period, and for a physician protecting decades of earning power it is almost always the right call. And the elimination period — 90 days is the standard sweet spot, and stretching to 180 days trims 10-15% off the premium if you hold enough cash to bridge the gap.

Specialty is the single biggest pricing factor, because carriers sort medical specialties into occupation classes (usually a 4A-3A-2A structure) that set the base rate before anything else is considered. A surgeon uses her hands in ways a psychiatrist never does, and the claims data reflects it.

Approximate monthly premiums for a 35-year-old physician buying $10,000/month in benefits, 90-day elimination period, benefits to age 65:

If you are a psychiatrist being quoted $450 a month somewhere, that is a signal to get a second set of quotes — not a reflection of what your class should cost.

This is the clause that decides whether the policy is worth owning.

• True own-occupation pays the full benefit when you can no longer perform the material duties of your medical specialty, even if you earn income doing something else. The surgeon with a hand tremor collects while teaching.
• Modified own-occupation pays own-occupation benefits only while you are not working elsewhere, or only for a stated window (often 2-5 years) before shifting to any-occupation.
• Any-occupation pays only if you cannot work in any job your education and experience qualify you for. For a physician this is close to unclaimable.

Expect true own-occupation to cost 10-20% more than a modified definition. For a procedural specialist, that premium is the reason to buy the policy at all.

Riders add roughly 5-15% each. Three earn their keep for most physicians:

• Future purchase option (guaranteed insurability). Lets you increase monthly benefit as income grows with no new medical underwriting. Essential if you buy during residency, when the benefit you can qualify for is a fraction of your eventual income.
• Residual / partial disability. Pays a proportional benefit when you return at reduced hours or reduced income. Most real claims are partial rather than total, which makes this the rider that actually gets used.
• Cost-of-living adjustment (COLA). Indexes the benefit once a claim begins. Worth it on a "to age 65" policy bought young, where a claim could run thirty years.

Also confirm the policy is non-cancellable, not merely guaranteed renewable. Guaranteed renewable means the carrier must renew you but can raise premiums across the whole class; non-cancellable locks the premium as well as the coverage.

Underwriting is stricter than life insurance — carriers examine occupation, income, and medical history in detail. The process:

1. Check what your hospital or group plan already covers, and what it excludes (call pay, bonus, and partnership income are the usual gaps).
2. Decide the benefit amount, elimination period, benefit period, and definition of disability before you quote, so the quotes are comparable.
3. Quote at least three carriers on identical terms. Guardian, MassMutual, Principal, and Ameritas are the four physicians most often end up comparing.
4. Ask specifically whether own-occupation is true or modified, and whether the policy is non-cancellable. Both answers should be in writing.
5. Complete the application and the medical exam. Underwriting typically takes 4-8 weeks.

Buy early. Issue age and occupation class are set at application, and a diagnosis between now and then can make the policy either more expensive or unavailable.