Just as not all insurance companies are the same, not all doctor’s short term disability plans are the same. Before you start paying for insurance or sign any papers, take a few moments to ask your insurance provider a few essential questions. The answers can mean the difference between receiving true coverage and leaving yourself exposed to a number of liabilities.
What’s Their Definition of Disability?
As a doctor, you know perfectly well what a disability is. The only problem is that your insurance provider might have a slightly different version than yours. That difference could mean the difference between you getting doctor’s short term disability benefits when you need them and not getting them at all no matter how disabled you are.
Does an Accident or Illness Qualify?
If you’re disabled due to an illness, will you still receive short term benefits or does the disability have to be caused by a physical accident? Besides asking about accidents and illnesses, you should also ask if there are any limitations or exclusions that come with your coverage.
Is the Premium Waived While the Benefit Is Paid Out?
If you ever do have to start receiving benefits, will you still have to pay for the premiums on your insurance? Even if it’s a short term disability, having to pay premiums while recovering can cause you more financial stress than you realize.
Don’t be afraid to ask your insurance provider as many questions as necessary for you to fully understand how, when and if you’ll be covered for your short term disability.