What is disability insurance for physicians and dentists?
You've made a significant investment in your career, and your unique capabilities are the most important financial asset you have to earn a living. Unlike other professional careers, an injury or illness can adversely affect your ability to perform your job. That's why it's important to have the right disability coverage in case the unexpected happens and you're not able to do the work you love.
We've designed our policies to give you flexibility and choice that can help meet your unique needs. Whether you want to stay in your practice or start something new, you can rest easy knowing that if you experience a covered disability, you'll be able to help cover your daily expenses as well as keep your lifestyle and your financial plan on track.
Substantial and material duties are the acts required to perform your job and cannot be reasonably left out or modified. It's a key consideration when a claim is submitted, along with your earnings at the time of disability. Not sure which type of coverage is right for your occupation? Talk to an advisor.
Many doctors first buy disability insurance when they are in residency (or when starting out for dentists), which would typically replace a little more than what you're making at the time. That's because your salary is likely to increase substantially down the road. As you make more, you'll likely want to increase your disability insurance benefit too. With that in mind, it could be a good idea to get a policy that offers an additional purchase benefit, which will allow you to buy more disability insurance2 without having to take another health exam. Talk to an advisor about getting the right coverage at the right time.
Policy details will vary by company, so make sure your policy defines disability based on your regular medical profession. Believe it or not, some policies will only pay you if you can't work in any profession. Then, ask how many ways there are to qualify for total disability. Many policies define total disability only one way. Our Medical True Own Occupation option offers multiple paths, which can give you more flexibility, particularly in a situation where a disability prevents you from doing a portion of your duties, but not all of them. See what other questions you should ask.
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The Northwestern Mutual difference
97% of our policyowners stay with us year over year
The percentage of our policyowners who stay with us year over year3
No. 1 ranked for disability income insurance based on premiums earned
Top ranked for disability income insurance based on premiums earned4
$530M in expected disability insurance dividends paid back to our policyowners
in expected disability insurance dividends paid back to our policyowners in 20235
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