Medical residents must secure a disability insurance policy to protect their interests. The disability policy provides these new doctors from facing a financial hardship in the event that they become injured on the job. This includes physical injuries as well as any occupational disease they may develop during their residency. A local insurance provider offers access to Physician Disability Insurance for these residents.
An Inability to Complete Their Medical Program
The resident must acquire coverage in the event that they are unable to complete their medical program due to their injuries. Any injury that prevents them from attending their classes or practical courses qualifies under the disability policy. The condition will entitle the resident to disability benefits.
Securing Income During Their Recovery
The policies provide the residents with a monthly payment of $1,000 during their recovery from their injuries. The policy provides these payments for no longer than a full calendar year to provide income for the residents. The claims adjuster reviews the resident’s injuries and reviews the terms of the policy to determine the full duration at which they will receive these benefits. The insurer will notify the resident about their benefits once the claim has been processed.
Help with Medical School Expenses
The disability insurance policies don’t impose any limitations on how the resident can use the funds. All monetary benefits are provided to the resident directly. The insurer doesn’t require the resident to provide receipts to show how the funds were managed.
A Path Way After Graduation
Residents who purchase the policies can transfer their insurance to their employer after the resident graduates from medical school. They are eligible for transfers as long as their new employer offers group rate insurance. The new doctor must also practice on a full-time basis and must be under the age of sixty to qualify for standard policies.
Medical residents protect themselves against the unexpected by purchasing disability insurance specifically for medical residents. The policies present disability benefits if the resident is injured during medical training and is unable to continue their program during their recovery. Medical residents who want more info about the policy can contact an insurer now.