In this episode of the Cover Your Assets podcast, Billy Gwaltney walks you through the Guaranteed Standard Issue (GSI) quote spreadsheet. He explains the eligibility criteria, the benefits of securing coverage early, and the various options available, including premium structures and key definitions of disability. Gwaltney emphasizes the role of brokers in navigating the complexities of insurance and ensuring that physicians receive the best possible coverage without unnecessary medical screenings.

Chapters

(00:20) Welcome

(02:58) Understanding Guaranteed Standard Issue Coverage

(05:45) Navigating Medical Screening and Eligibility

(08:35) Exploring Coverage Options and Premiums

(11:41) Key Definitions and Benefits of Coverage

(14:51) The Role of Brokers in Securing Coverage

(17:44) Conclusion and Next Steps

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. 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! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. 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 Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney reviews the quote spread with Benefit Increase Rider (BIR). He emphasizes the importance of understanding the details of coverage, the key carriers available, and the various benefits that can be included in a policy. The conversation covers essential topics such as the definition of disability, the benefit increase rider, residual and recovery benefits, and the unique perks offered by different insurance carriers. Gwaltney also highlights the significance of having a knowledgeable broker to navigate the complexities of the claims process and ensure that physicians receive the coverage they need to protect their financial future.

Chapters

(00:20) Welcome

(00:15) Understanding the Spreadsheet and Key Carriers

(02:30) Key Points of Disability Coverage

(06:23) Defining Disability and Its Importance

(10:40) Benefit Increase Rider Explained

(15:15) Enhanced Residual and Recovery Benefits

(19:37) Psychiatric Benefits and Unique Offerings

(22:46) Cost of Living Adjustments and Premiums

(25:28) Streamlined Medical Screening Process

(26:51) The Role of the Broker in Disability Insurance

(29:37) Conclusion and Further Discussion

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. 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! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. 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 Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the presumptive disability benefit, a crucial aspect of private specialty disability coverage for physicians. He explains how this benefit is automatically included in policies from top carriers and outlines the conditions under which a physician would be considered totally disabled. Real-life examples illustrate the importance of understanding this benefit, emphasizing its role in providing financial security for physicians facing unexpected health challenges.

Chapters

(00:20) Welcome

(02:58) Real-Life Applications of Presumptive Benefits

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. 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! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. 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 Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the critical importance of understanding medical records when applying for specialty disability coverage. He shares a real-life example of a physician's experience with the insurance underwriting process, emphasizing the need for accurate disclosure of medical history and the potential implications of miscommunication. The conversation highlights the role of insurance brokers, the nuances of HIPAA regulations, and the importance of being forthcoming with medical information to ensure a smooth application process.

Chapters

(00:20) Welcome

(03:26) The Importance of Accurate Disclosure in Applications

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. 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! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. 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 Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the benefit increase rider in disability insurance policies for physicians. He explains how this rider allows for increased coverage without redoing medical screenings, the importance of regular income updates, and the limitations regarding age and eligibility for increases. The conversation emphasizes the need for physicians to stay informed about their policies to ensure adequate coverage throughout their careers.

Chapters

(00:20) Welcome

(00:15) Understanding the Benefit Increase Rider

(01:15) Importance of Regular Income Updates

(02:43) Limitations and Expiration of the Rider

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. 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! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. 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 Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

Summary

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of disability insurance, focusing on the differences between private policies and employer group long-term disability (LTD) policies. He explains how physicians can collect from both types of policies if they meet the definitions of disability, but emphasizes that private coverage is generally more reliable. The conversation also touches on the challenges faced by clients when navigating claims and the importance of understanding the details of their coverage.

Chapters

(00:20) Welcome

(03:01) Navigating Claims: Private vs. Group LTD Policies

(05:49) The Importance of Proper Coverage

Summary

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of disability coverage for physicians, particularly focusing on how production pay impacts the ability to secure additional coverage. He explains the importance of guaranteed income, the role of tax returns in calculating coverage, and the nuances of underwriting individual situations. The conversation emphasizes the need for physicians to understand their income structure and how it affects their disability insurance options.

Chapters

(00:20) Welcome

(03:07) Factors Influencing Disability Coverage Calculations

(05:24) Navigating Underwriting and Individual Situations

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. 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! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. 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 Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.

In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of group long-term disability (LTD) insurance for physicians. He explains how group LTD coverage impacts the maximum amount of private specialty coverage a physician can obtain, emphasizing the importance of understanding the definitions and limitations of both types of insurance. The conversation highlights the challenges faced during claims processes and the potential pitfalls of relying solely on group LTD policies.

Chapters

(00:20) Welcome

(03:03) Impact of Group LTD on Private Coverage

(06:10) Navigating Claims: Group vs. Private Coverage

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. 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! Don't let accidents, illness, or injury destroy your hard work and the life you deserve. 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 Cover Your Assets Podcast, host Billy Gwaltney, head of Professional Planning Group, Inc., shows you exactly what you need to do to protect your income and way of life.

For more tips and advice, connect with the CYA Podcast on YouTube and visit the Professional Planning Group online. Stay up to date with Billy on Facebook and LinkedIn.

If you have questions, feedback, or just want to connect, email Billy at billy@ownoccdisability.com.