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.