Typically when we think of Transitional year, we think of something along the lines of just another year of education. Yes in most institutions this year focuses on broad based general medicine before entering your primary residency program. But such programs do provide benefits to residents outside of additional medical education, especially when it comes to planning for your future.
Transitional year may appear to be an odd time to start thinking about disability insurance, but all things considered it maybe the best time to start. As a transitional resident you are typically viewed as a better risk than your colleagues in traditional residency programs. This provides two very important financial advantages. First, because of the lower risk class you could receive rates at almost half the price of what you would pay in a specialty. More importantly these rates are locked in forever, and can apply towards future increases in you overall protection, potentially saving you thousands. In addition to advantageous rates you may be able to acquire more favorable protection and language compared to your peers in your chosen specialty. With this said, it appears that the transitional year is more than just broad based learning year but an opportunity that most miss out on.
For more information about Transitional residency disability insurance or any other question contact us at Income Protection Specialist.com. Why trust anyone other than a specialist with your future?
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