Cover Your Assets Podcast with Billy Gwaltney
Don’t let accidents, illness, or injury destroy your hard work. You’ve spent years of your life and hundreds of thousands of dollars to become a physician. This is the career that will give you and your family everything you’ve dreamed of. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the C.Y.A. Podcast, Billy Gwaltney shows you exactly what you need to do to protect your income and your way of life.
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Buyer Beware of a Lower Rate
08/23/2023
Buyer Beware of a Lower Rate
Why do shady brokers take advantage of so many innocent physicians? The biggest reason is that most people want cheaper rates, even though the top 4 companies offer safe, worthwhile coverage... In other words, they set themselves up for misfortune… This leads to losing thousands of dollars every year. Plus, it causes hours of stress and endless troubles when a disability case comes up. In this episode, you get to see the common pitfalls that price shoppers face... And you’ll discover how to prevent shady brokers from taking advantage of you, so you get the coverage you deserve. Tune in now! Show Highlights Include: The dirty little secret shady brokers use to dupe you into paying thousands of dollars extra for cheaper coverage (2:25) 3 overlooked coverage mistakes that could cost you a fortune (3:00) Make sure you have these “Vital Cost” features in your coverage when buying (Warning: Not knowing these allows your broker to take advantage of you…) (3:28) Three “Life Saving” features without which your coverage is useless (Note: Missing one of these means you’ll be left high & dry during a disability) (4:25) Surprising reason why using a graded premium is going to cost you thousands of dollars more instead of saving money (5:24)
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Why I Wrote the Book "Disability Insurance For Physicians"
08/09/2023
Why I Wrote the Book "Disability Insurance For Physicians"
As a physician, your time is limited… So, don't waste it searching through info on disability insurance that won't help you. With so much bad advice out there, it's crucial to get the right details! Otherwise you risk yourself into policies that charge you crazy premiums and never pay off when crisis strikes… Leaving you and your family high & dry... That's why I'm here to share the crucial bits you need to know before getting disability insurance. This way, you'll be safe from shady policies and save yourself years of headache and money. Listen now! Show Highlights Include: Your most crucial asset as a young physician to take care of (hint: it’s not what you think) (1:43) Don’t have time to look into disability insurance? Here are the top 2 disability policies you need to know about (3:00) #1 insurance type you need to have now (Note: This will save you years of headache & money) (3:24) The sneaky ways certain policies siphon all your money and leave you high & dry during a crisis (3:41) Make sure your coverage has THIS benefit added on to it (Having this will save you from insurance companies that try to cancel your policy) (6:35)
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How is My Maximum Private Disability Benefit Calculated Once I’m an Attending?
07/26/2023
How is My Maximum Private Disability Benefit Calculated Once I’m an Attending?
Getting coverage is easy, considering all the options you have. But knowing what to pick or who to go to get help from is tricky. To make matters worse: There are tons of bad brokers that will gladly take your money from your pockets. And employers that promise big payouts but leave you high & dry in times of crisis… In this episode, I’ll reveal exactly how you can navigate the various minefields of the insurance world and get the right coverage for you. Listen now! Show Highlights Include: The real truth behind insurance companies and why most people can’t get a higher premium (2:46) Surprising reason why you’ll be charged the same by insurance companies even if your pay goes down by more than half (4:09) 2 crucial factors insurance companies look at when deciding how much coverage you need (5:25) The earliest you’re eligible for an increase in coverage as a trainee (Note: Look out for this window so that you can get more coverage over the long term) (6:06) How to get more credit for your coverage on your guaranteed bonus on pay (7:13) Are you an independent contractor? Here’s how long you need to wait before an insurance company will give you credit for your new income (7:41) Sneaky “Definition Watering” tactic insurance companies use to make it difficult for people to collect coverage (and how you can prevent that) (10:36) How your employer could unknowingly cause your private speciality disability benefit to go down by half (and what you can do to avoid it) (12:00) The dirty little secrets of employers who brag about having up to 60% of their salary replacement as a joining benefit (13:19)
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Should Physicians Think Like Entrepreneurs?
07/12/2023
Should Physicians Think Like Entrepreneurs?
Embracing an entrepreneurial mindset unlocks unfair advantages. Not only does it save your most valuable assets (time and money), but it also makes you more credible in your patients' eyes. In fact, this can make you the top choice in your entire market. But how can you embrace an entrepreneurial mindset as a physician? In this episode, I reveal how to think like a business owner, and revel in the unexpected benefits that thinking like an entrepreneur unlocks. Want to save time, cut costs, and become the most in-demand physician in your market? Listen now! Show Highlights Include: The ONE simple mindset shift that can help you think more like an entrepreneur and earn more by as soon as next week (1:58) Why having an entrepreneurial mindset helps you better serve your patients (and helps you pay off your student debt in half the time) (3:45) How to position yourself as the #1 physician in your area and make patients line up around the block to see you (5:33) The counterintuitive reason why a lot of physicians end up becoming entrepreneurs without realizing (and how not using this fact to their advantage is costing them time, money & credibility) (6:24)
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What Are The Top 4 Insurance Companies?
06/28/2023
What Are The Top 4 Insurance Companies?
Picking the right disability coverage provider is a big deal. Why? Because they'll be your safety net when times get tough, and you'll be paying them for a long time. Make sure it's a wise investment. Join me in this episode as I reveal the top companies we recommend, along with what to watch out for. Plus, I'll share two more alternatives if you can't access the top four. Tune in now! Show Highlights Include: The Ultimate Disability Coverage: 4 Companies You Can't Afford to Overlook (Warning: Choosing Otherwise Could Cost You Thousands) (1:05) Choose this company if you expect to have an exception during the lifetime of your policy (Note: no other company will let you add changes to your policy) (1:54) Want the lower rates on your policy? Choose THIS! (This will save you a fortune on premiums over the years…) (2:15) Medical screenings are a concern? Can’t pick among the 4 companies? Here are 2 more companies you can pick (3:55)
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What’s next (after getting the discounted quotes for the top four specialty occupation disabilty contracts)?
06/14/2023
What’s next (after getting the discounted quotes for the top four specialty occupation disabilty contracts)?
There’s a proper process you need to follow if you want to set up your disability coverage the right way. And it’s something most people miss when they self-insure… Join me in this episode as I guide you through the steps to get the cheapest disability coverage that protects you just as well as the expensive ones… Listen now! Show Highlights Include: The 4 best companies that offer true speciality own occupation disability coverage (Warning: if you don’t pick from one of these you risk losing thousands of dollars in muddy contracts) (2:01) Why some cheaper contracts are just as good as expensive ones (and how to get one) (3:10) The correct way to proceed with your coverage if you’re ready (Note: follow this method to avoid unnecessary hassle that comes with the paperwork) (8:40) Why you should take action ASAP to get the affordable coverage (Waiting too long means you’ll end up paying thousands more on premiums long-term) (11:51)
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Explaining the Benefit Increase Rider
05/31/2023
Explaining the Benefit Increase Rider
Getting a benefit increase rider on your policy is the smartest move you can make to ensure a smoother life ahead. But there’s a catch… There are hidden pitfalls that most people don’t know about that give insurance companies the power to snatch away your precious benefit increase rider. Putting your future at risk. In this episode, I will unveil the surprising reasons people lose their benefit increase rider. You’ll also discover the unfortunate truth about having to endure additional medical screenings and the devastating possibility of not receiving the increase you were counting on. Listen now! Show Highlights Include: Surprising reason why the benefits increase rider actually ends up making your premiums cheaper (2:04) Trainees: Here’s how you should get your brokers to structure your policies to get the maximum possible benefits over the long term (2:16) Don’t have disability coverage? Here’s the “perfect” time to get the largest discount and maximum benefits when you get the coverage (3:15) The “Coverage Purchase” formula that insurance companies use to figure out exactly how much coverage you need (and how you can increase that) (3:51) The shortest amount of time you have to wait to legally increase your coverage (5:03) Already have benefit increase rider? Here’s how you can prevent insurance companies from sneakily taking it off your policy… (5:10) Why increasing your coverage by a low amount can enable insurance companies to snatch away your benefits increase rider (5:44) Here’s how you can increase your coverage as a trainee in half the time attendees can (7:01) The biggest regret every policyholder that goes through a claim has (and how you can potentially save yourself from a massive headache in the long-term) (11:05)
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Physicians-Entrepreneurial Approach to Financial Planning with Kyle Christensen, Part 2
05/17/2023
Physicians-Entrepreneurial Approach to Financial Planning with Kyle Christensen, Part 2
There are two ways to retire as a physician: you can either retire sitting on a pile of assets you’re afraid to touch, or you can enjoy life, knowing your finances are secure no matter what happens to you. If you want to belong to the second camp, this is the episode for you. Today we’re joined for the second installment of Kyle Christensen’s 2-part interview on financial planning. In this episode, you’ll discover the 3 investing rules that help you plan your finances for maximum wealth. Plus, you’ll find out what kind of life insurance policy gives you the most peace of mind as you advance through your career. Tune in now! Show Highlights Include: Do you know your maximum life insurance? If not, listen now. It could save your spouse’s quality of life when you croak (0:35) The 3 types of life insurance, which one is cheapest, and which to get if you want the biggest payout possible (6:11) Why self-insuring is almost always a costly mistake (even if it seems cost-effective on the surface) (10:43) The surprising “life enjoyment” benefits of keeping an active life insurance policy after retirement (16:51)
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Physicians-Entrepreneurial Approach to Financial Planning with Kyle Christensen, Part 1
05/03/2023
Physicians-Entrepreneurial Approach to Financial Planning with Kyle Christensen, Part 1
Why is it that doctors are so skilled, yet have so little control of their careers? Your time is controlled by your patients. And your salary is capped by insurance reimbursement rates. Financial planning, on the other hand, is one of the areas where you have plenty of control. Yet most physicians throw it away to financial institutions, praying they’ll have your best interests at heart. Spoiler alert: they don’t. And because of that, you could miss out on millions of dollars by retirement. But today’s guest, San Antonio financial advisor Kyle Christensen has a solution. In this episode, you’ll discover 5 financial planning principles that put your finances back in your control and help you retire wealthy. Tune in now! Show Highlights Include: A simple mindset shift that could transform a physician’s chaotic schedule into a smooth day (3:44) Why most physicians are bad with money, why it’s not your fault (and how to take ownership of your financial future) (13:57) The weird reason investing your income is like lighting your money on fire (unless you do this with 15% of your income first) (16:35) The “pretend protection” trap that leaves optimistic physicians incapacitated and broke (18:31) How to guard yourself against “The 4 Rules” financial institutions use to give you as little money as possible (21:47) The “Velocity of Money” strategy that helps international banks (and savvy physicians) become outrageously wealthy (27:57)
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Why The Broker Matters
04/19/2023
Why The Broker Matters
If you’ve ever thought about whether or not you need a broker, then you’re not alone. Thousands of physicians have asked the same question… It’s only responsible to know if you need to be spending money on something you could likely do yourself. Join me in this episode as we delve deep into the question on every physician's mind: Do I really need a broker? We'll explore the benefits and drawbacks of having a broker, how it can potentially save you time and effort, and much, much more! Tune in now! Show Highlights Include: Why reading a disability coverage contract by yourself is like navigating a field of landmines (1:17) How choosing the wrong broker can cost you upwards of $20,000 every month (2:51) Top 5 traits you need to look for when you’re choosing a broker (This will save you unnecessary stress & headache at the time of a claim) (3:09) Here’s why 95% of the brokers on the market are the worst possible choice for a physician (3:37)
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Do I need a broker?
04/05/2023
Do I need a broker?
Some people think it’s better to skip a broker and go straight to an insurance company to avoid paying an extra fee. Which is an excellent idea if you want to save money by doing the work yourself. But unfortunately, it is more complicated than you think. And often, it’s more expensive to go straight to the insurance companies because you won’t get the best rates (and you wind up paying for the broker fee anyway). Join me in this episode as I share whether skipping a broker is a good idea or not. And how to get the best disability coverage, and save yourself from coverage issues that cause frustration and hurt your wallet. Tune in now! Show Highlights Include: Can you go straight to an insurance company to avoid paying an extra fee for the broker? Here’s why it could cost you more… (1:17) How to choose the right broker (Warning: not knowing this could cost you thousands of dollars) (2:33) Why buying disability coverage from a large firm is the worst financial decision you can make that’ll cost you thousands in the long term (5:18) The 3 traits your disability coverage broker absolutely needs to have (This will save you from headaches & unnecessary work in the long run) (7:18)
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Is Disability Insurance Really Worth It? With Dr. Naguib Farah
03/22/2023
Is Disability Insurance Really Worth It? With Dr. Naguib Farah
Most physicians think they’re invincible to accidents which can disable them and forever change their life. Physicians spend decades in school dedicating their lives to their careers, but never think twice about how quickly it can end or get altered. That’s what happened with today’s guest, Dr. Naguib Farah. Dr. Naguib thought he had good genes, and never considered he’d one day be unable to work a full workweek. But then his stresses got to him, caused a stroke, and left him with partial blinding in one of his eyes. Dr. Naguib still works in some capacity today, but only 66% of the time he used to work. Luckily for Dr. Naguib, he had good disability insurance (even though he almost got denied). In this episode, Dr. Naguib shares his story of becoming disabled and how his disability insurance saved him from financial and existential anxiety and depression. Listen now. Show highlights: Why private disability insurance is crucial for your financial freedom (especially if you think you have good genes and will never get disabled) (5:16) How to get the best definitions and rates for your disability insurance (5:59) The insidious way even “healthy” physicians can become unable to perform their duties overnight (6:57) Why filing an insurance claim with a broker help you receive your benefits faster (and with fewer headaches) (17:59) How to get an insurance company to accept your claim (even if they’ve denied you before) (19:03) The weird way disabled physicians are their own worst enemy to their doctors (and how this could make your insurance company deny your claims) (20:40) To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
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How long does the medical screening take?
03/08/2023
How long does the medical screening take?
Most trainees believe that they can get their coverage approved whenever they want. Which is absolutely not the case. Well, lucky for you, there is good news and bad news... The bad news is that your policy might get delayed by months, leaving you stranded without coverage. The good news? There are ways you can dramatically reduce your policy approval time. At times even get it approved by the next day. In this episode, I'll share practical tips on how you can do just that, cut down on your policy approval time and get your medical coverage asap. Listen now! Show Highlights Include: The 3-step medical screening process that you need to go thru to get your policy approved (1:39) Exactly how to get your medical coverage in the shortest time possible (As fast as 2-3 business hours) (2:30) Why your policy approval might get delayed by months (and how you can cut down on the time lag) (3:19) How most insurance companies delay your policy by over 1-2 weeks (and how you can prevent that) (5:55)
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What is the process for buying a policy?
02/22/2023
What is the process for buying a policy?
Every working person is vulnerable to disability. And being disabled reduces your earnings, which is why I always recommend a private disability policy. It’s one of the most effective methods for safeguarding a portion of your income while maintaining your standard of living. But how do you go about purchasing a private disability policy? In this episode, you’ll discover how to protect your hard-earned money with a private disability policy and where to safely purchase yours without spending more than required.. Listen now. Show Highlights Include: How to purchase the best coverage policy in 3 simple steps. (1:36) The 4 factors that influence your coverage rate to prevent any "extra" bills you didn't plan for. (2:20) How a good broker can help you cut the stress of purchasing your policy by half. (4:35) How to reap income-tax-free benefits by paying for your coverage yourself. (6:32) Working with us as your broker — the best way to have a smooth policy purchase. (8:47)
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Why buy early?
02/08/2023
Why buy early?
As a trainee, it can be tough to budget for disability coverage. But here's the thing: waiting to get coverage is like playing a risky game with your finances. Think about it - the longer you wait, the higher the interest rates on your coverage will be. It's like a ticking time bomb for your wallet. This is why it's important that you learn to take control of your financial and health destiny now to get the best discounts and rates on disability coverage. In this episode, we'll show you how to do just that while paying as little as possible on premiums. Listen now! Show Highlights Include: How to get the largest discount on your disability coverage (2:14) 2 overlooked reasons why waiting till graduation to get coverage ends up costing you more in the long term (2:43) How 95% of the trainees end up paying 20-30% extra for coverage (and how you can avoid that) (3:16) #1 reason why waiting for four years as a trainee to get the coverage could end up costing you an extra 40-50% in premiums permanently (and how you can prevent that) (3:43) How you can legally bypass in-person physical screening for the coverage as a trainee (4:32) The key to securing the lowest premiums on your coverage (6:42) Why a lower coverage rate may be the smarter choice as a trainee (9:55)
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Discounts - How do they work, who can get them?
01/25/2023
Discounts - How do they work, who can get them?
How much are you paying right now for your insurance premiums? There’s a 95% chance it’s too much. Because 95% of physicians are unaware they can reduce how much they have to pay in premiums on their coverage. How? By simply getting a discount through the right associations... And by doing so, there’s a good chance you can save up to 50% on your coverage. In this episode, you’ll discover how to add discounts to your existing attendant coverage. And, if you’re still in your trainee phase, you’ll find out how you can save up to 50%! Listen now. Show Highlights Include: How to save up to 40-50% on your disability coverage permanently by using trainee discount (1:23) How you can to get up to 15% off your coverage as an attendant (even if you’re past the trainee period) (3:24) The “Policy Discount” loophole most insurance companies use to charge you extra premiums (and how you can avoid it…) (4:32) A secret strategy for saving money on your insurance policy (while upgrading your coverage) (4:50)
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Ending soon-Gender neutral discount in Massachusetts
01/11/2023
Ending soon-Gender neutral discount in Massachusetts
The state of Massachusetts is taking away gender-neutral discounting. This means that you can no longer add that to your policy to get a whopping 30-40% discount, which is the highest discount you can claim as an attendee. Comparable to your trainee discount, which is not available to practicing physicians. In this episode, we show you how to use gender-neutral discounting to lower your premium rates permanently. Listen now! Show Highlights Include: How insurance companies decide how much to charge you on premiums (and how you can lower it in your benefit.) (1:04) Why females need to get your disability coverage ASAP (hint: you’ll likely end up paying a fortune ) (1:45) 3 different scenarios take advantage of your disability coverage and claim benefits while working your profession (4:13) How to claim the 30-40% gender-neutral discount before it expires permanently (7:11)
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Should I pay down debt or increase my disability coverage?
12/28/2022
Should I pay down debt or increase my disability coverage?
Disability premiums can be seen as a “luxury,” especially when various expenses wear you down. Which makes it easy to delay paying it until a later time. But this is a fatal mistake. Why? Disability can come knocking on anyone’s door at any time. So you must ensure your most valuable asset. That way, when hard times do come, you don’t have to sacrifice your and your children’s lives. In this episode, I share advice on how you can pay off your debt and your disability coverage at the same time. So that you don’t have to put a pause on your lifestyle because of accidental disability. Listen now! Show Highlights Include: Should you pay down your debt OR increase your disability coverage? (0:43) Figuring out what your most important asset is so that you can protect your income during a disability (2:25) #1 mistake physicians make about claims that eat up their income (3:21) How to pay off both your debt and your disability premium in minimum time (4:55) How to know if you’re underinsured by your insurance company (and discover when is the “right” time to upgrade your coverage) (7:51)
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A young physician’s most important asset
12/14/2022
A young physician’s most important asset
What do you think, as a young physician, your most crucial asset is? Your retirement account or your real estate portfolio? Or some other type of holding? What if I told you it’s none of that… The most important asset as a young physician is your ability to get up from bed every day and do your job. We’re talking about a lot of money here, especially as a young physician in the early thirties, when you’re likely to work for another 20 or 30 years. In this episode, you’ll learn sound advice on what you should do as a young physician to get disability coverage in the event of an illness. While dodging the loopholes that insurance companies use to avoid paying on a claim. Listen now! Show Highlights Include: The exact amount young physicians in their early thirties make on average (You qualify to make this amount if you’re early in your career) (1:21) How much it costs to get disability coverage in the event of an illness. (Don’t end up paying more than what it actually costs.) (3:03) How to win financially even if you get disabled at the end of your career (3:31) The underhanded “out-clause loophole” that insurance companies use to avoid paying on a claim (Knowing this will save your life when things go south…) (4:20)
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What factors determine the cost of my disability policies?
11/30/2022
What factors determine the cost of my disability policies?
Many physicians end up paying more than necessary for the same exact disability policy as another one who pays half of what they do. Why? They committed one of the 5 major mistakes which skyrocket disability policy rates. In this episode, you’ll discover what factors determine the cost of your disability policies, so you can get the best deal possible. Listen now. Show highlights: Why your disability insurance rate goes up by 5% for each year you delay buying it (1:25) How your speciality impacts your rates over the life of your policy (even if you switch specialties in the future) (3:25) Why buying your disability policy during your residency can unlock massive, life-long savings for the same exact policy (3:37) The “Trainee Discount” secret for reducing your disability policy rates (without sacrificing your coverage) (8:24)
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Two types of disability policies
11/16/2022
Two types of disability policies
When physicians reach out to me about disability policies, they always ask what types of disability policies are available. There are two different types. But even though they’re both considered disability policies, one works in your favor and you may be forced to pay back your benefits with the other one. In this episode, you’ll discover the two types of disability policies, and which one you should choose for the maximum benefit. Listen now. Show highlights: The 2 types of disability policies (and how to pick the best one for you) (0:49) The “adverse selection” reason for why group LTD policies restrict your benefits (3:14) Why you might be forced to pay back your disability benefits if you sign up for the group LTD policy (6:12) How to get paid your full disability policy (even after landing another job) (7:19)
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Big gaps in employer long term disability policies
11/02/2022
Big gaps in employer long term disability policies
Employer long-term disability (LTD) coverage lures many young physicians into making a massive financial mistake. Why? Because employer LTD coverage is much cheaper than private speciality policies. But the cheaper cost comes with an enormous cost: Not only is it much harder to collect at claim time, but many times employer LTD coverage doesn't pay anything at all, which can bankrupt your family if disaster strikes. In this episode, you’ll discover the dirty little details in group LTD coverage that can prevent you from receiving your benefits. And why private speciality coverage pays more if something happens. Listen now. Show highlights: Why the “all coverage is the same” assumption can bankrupt your family if you become unable to perform your job (1:14) How insurance companies minimize their risk with adverse selection at your expense (1:58) Why you need private specialty disability coverage (even if your employer offers disability insurance) (2:32) Why private speciality coverage allows you to receive payments while working another job (and group LTD coverage doesn’t) (4:34) The “Partial Disability” perk private coverage offers that group coverage doesn’t (8:26)
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Principal's benefit update rider: How it works
10/19/2022
Principal's benefit update rider: How it works
Having a principal’s benefit update rider allows you to increase your coverage as your income grows. This is crucial because most trainees only get $5,000 a month in disability coverage, but specialists can get up to $30,000 per month. But there are a few nuances with your benefit update rider. For example, you must increase it every 3 years (or else you’ll get trapped into your existing benefit amount). I had a client who decided not to upgrade, and it backfired on him when his new job created more stress than he imagined. In this episode, you’ll discover how the principal’s benefit update rider works, and how to get the most coverage from it over the course of your career. Listen now. Show highlights: How the benefit update rider allows you to increase your coverage as your income grows (0:45) Why trainees only get $5,000 per month in disability coverage (and how to get up to $30,000 per month) (1:12) How to increase your disability coverage (without updating your medical screenings) (2:03) Why removing the benefit update rider traps you at the same coverage amount forever (unless you switch insurance companies) (2:50)
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Underwriting & Medical Records
10/05/2022
Underwriting & Medical Records
Unlocking the best disability coverage for physicians in the nation is a simple process. But it does require your medical records and an underwriter. While most physicians have no trouble with this process, it can take longer than expected for insurance companies to make sure you’re healthy-ish. But there are a few simple things you can do to speed up this process, and eliminate your worry about disability insurance. In this episode, you’ll discover how the underwriting and medical records process works, how to speed up the process, and why you don’t have to be as healthy as a triathlete to get coverage. Listen now. Show highlights: How to get the best possible disability coverage for physicians in America (0:52) Why showing insurance companies you’re “healthy-ish” allows them to offer you a non-cancellable, guaranteed renewable disability policy (1:18) 3 reasons why it may take up to 8 weeks for your underwriter to clear you for disability insurance (2:27) How to speed up the medical screening process and get disability insurance in two weeks instead of two months (3:52)
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Certainty is the expectation
09/21/2022
Certainty is the expectation
We live in an uncertain and unpredictable world where one small mistake can cause untold decades of suffering. Becoming disabled, for example, threatens your ability to make a living, pay off your student loan debt, and provide for your family. That’s the bad news. The good news? Picking the right disability insurance creates certainty out of thin air. Especially if you suffer from a career-ending injury. In this episode, you’ll discover how to create certainty with your disability insurance plan. And how this small decision prevents years of financial turmoil. Listen now. Show highlights: How insurance agencies and brokers trick you into picking an awful disability policy (and how to avoid this) (2:07) Why relying on your financial advisor for your disability insurance can leave you broke and unemployable (2:33) How to add certainty to your medical career (even if you suffer from a career-ending injury) (3:30) The single deadliest mistake physicians make in their financial plan which can sacrifice decades of education and income in mere seconds (5:13)
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Should I purchase Disability insurance before moving to California
09/07/2022
Should I purchase Disability insurance before moving to California
Many of my clients plan on moving to California after their residency. And so they ask if they should purchase disability insurance before moving. My answer? Absolutely! In fact, disability insurance costs 20-30% more in California compared to any of the 49 other states. In this episode, you’ll discover some tricks to keep your disability insurance rates low (even if you plan on moving to California). Listen now. Show highlights: Why buying disability insurance before moving to California unlocks 20-30% cheaper rates (without sacrificing your coverage) (1:08) The single most expensive state to purchase disability insurance in (and 3 simple ways to avoid high fees) (1:40) How to get out of Californian price increases when you increase your coverage (3:24) Why paying more for the future insurability option rider in training protects your wallet after being employed (4:50)
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What if I do lots of Procedures & lots of Clinic
08/24/2022
What if I do lots of Procedures & lots of Clinic
As a specialist, you have worked hard to grow your practice. But you never know when an unforeseen circumstance might sneak up and destroy your income and way of life. Navigating the ins-and-outs of own-occupation disability insurance is confusing and lethal — especially when you do a lot of procedures & clinic work. But it doesn’t have to be this way. In this episode, you’ll discover how to cut through insurance misinformation, so you can pick a policy that protects your wealth from the unknown. Listen now. How being partially disabled surprisingly won’t steal your wealth (and increases other aspects of your practice) (2:25) Why not being able to perform procedures any longer doesn’t have to put an end to your medical career (3:54) How a procedural Ophthalmologist took advantage of his partial disability policy (and still continued his revenue-producing clinic work) (4:15) The single best wealth-protecting disability insurance company you can work with (5:26) The vague "50% Rule" for getting partial disability (without sacrificing clinic work) (6:00) To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
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Billy's initial conversation with a Female Trainee
08/10/2022
Billy's initial conversation with a Female Trainee
Good disability coverage could be the difference between financial security for life, and being broke and bound to a wheelchair. There are between 70 and 75 disability insurance companies to choose from in the USA. Most of them weasel their way out of paying you, with a team of lawyers (and ill-defined policies). And if you’re a woman, it gets worse: most companies charge you higher premiums just because of your gender. And some of them offer “gender neutral rates”, which is often a way of tricking you into a bad policy. In short, disability insurance is a minefield. That’s why we’ve made it easy for you. In this episode, we’ve narrowed down your options to just 4 reputable companies who’ll support your lifestyle (even if you become unable to work). Listen now and take care of your insurance worries for good. Show highlights: Why choosing an independent broker helps you get the best rates on your disability insurance (and avoid institutions who are just in it for the money) (1:57) How to simplify your disability insurance choices by narrowing the 70+ companies down to just 4 (2:26) How to lock in your trainee discount (without paying high premiums) (2:47) The “elimination period” hack that well-prepared medical practitioners use to lower their insurance premiums (3:35) How to claim a full disability payout (even if you are still able to work as a doctor) (4:18) The “double-dipping” loophole that allows you to profit up to $3,000 from minor injuries (even if you’re still able to work) (10:54) Why choosing the “COLA rider” option secures your lifestyle after disability (even as inflation continues to rise) (12:21) Why females pay more than males for the same disability coverage (and how to get that rate down) (13:23) How busy trainees can avoid time-wasting medical screenings with the “streamline” approach (15:53)
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Paying student loans if disabled
07/27/2022
Paying student loans if disabled
If you became permanently disabled, would you be able to pay off your student loan debt? The average student loan debt for a physician is $201,490. In other words, that's $2,288 a month, paid every single month for the next 10 years. How would you be able to cover this expense if you weren't able to work anymore? What would happen to your house, your car, your kids, and your family? How will you be able to keep the lights on when you're not able to provide? Today, you’ll discover two 'obvious' methods that you can use right now to completely knock out your student loan debt. Listen now! Show highlights: Two 'obvious' ways to pay off your student loan debts completely (and be free from the chains of debt) (1:26) How to get an extra $2,500 a month tax-free (and cover off debt up to $450,000 over a 15 year period) (1:39) How to securely cover tens of thousands in increased medical and living expenses (by taking full advantage of your existing insurance policy) (4:02) Why being cheap when it comes to your insurance policy is the best way to be stuck in student loan debt forever (4:18)
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Explaining the Guardian future insurability option
07/13/2022
Explaining the Guardian future insurability option
You already know that disability insurance is something you need to have as a medical professional. But as your income increases over time, you may wonder which option is the best for you. To help you cut through the clutter, Billy takes a closer look at the top insurance plans for physicians in the market. This week, he explains one of the most popular ones: Guardian. Listen now to discover the pros and cons of the most popular insurance plan for physicians across the country. Plus, find out which coverage plan option is the best for you. Show Highlights Include Two ways to increase your coverage with Guardian (0:37) A tricky clause that could get your Benefit Purchase Option Rider canceled (and how to keep it) (2:36) The three exceptions to your Benefit Purchase Option Rider that allow you to upgrade your insurance coverage early (3:22) 2 reasons to choose the Future Insurability Option ( even though it’s more expensive) (4:54) How the Future Insurability Option saves you loads of money if you‘re planning on moving to another state (7:06) To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.
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