The reason you buy disability income protection as a Neurosurgeon is to protect your income. As a surgeon, you work with sharp objects daily and there is always to opportunity for and injury. As a human being, there is always the risk of life altering illness. Both can prevent you from earning and income in your specialty. For doctors the amount of lost future earnings can be over $10 million. The disability insurance companies realize that if you go on claim their risk could be very high so they have implemented protective clauses in the policy to reduce their financial risk. These are known as exclusions and limitations they provide an out to the disability insurance provider in the event that your claim falls into certain categories. As a Neurosurgeon it is crucial that you read your policy and understand the exclusions and limitations it contains.
Every company has their own defined limitations and exclusions but there are a few commonly accepted within the disability insurance industry. These include disabilities incurred from acts of war, felonies, and self-inflicted injuries. Like all other exclusions, these provide an opportunity for the insurance company to limit the risk. As a Neurosurgeon, I am sure that you explain the risks and details involved in the procedures to your patients. Unfortunately not all agents take the time to go over all of the important details of your policy. This puts you as the owner at high risk of not collecting if you happen to become disabled and your disability falls into one of the excluded categories.
At Income Protection Specialist we, like you take the time to go over the details of your policy. When we are finished we want you to know the details of your policy as well as we do. Should you be confused or need future explanation we are always here to assist you. Remember we work for you not the insurance company. Feel free to contact us and we will be more than happy to assist you in understanding the terms of your disability income policy.
