Here are the challenges for (and with) physicians who find themselves with a health situation that either prevents or limits their ability to work in their own occupation:
- They don’t understand the policies they own, so they don’t know what to do, and in what order, when a health issue arises. Disability insurance companies are unforgiving; one mistake and the claim is ruined.
- Many get medical care from their doctor friends and the healthcare recordkeeping is horrible. When the insurance company inevitably asks for “proof of claim,” little objective evidence exists.
- They ask their doctor friends for legal advice about the policies and their “friends” almost always have the wrong answer for them. Lawyers shouldn’t be doctors, and vice versa.
- They wonder about making a claim vis-à-vis their obligations to their business partners, the Board of Health Professionals, and their malpractice carriers. This “analysis paralysis” can dimmish the value of their claim permanently.
- Many either own their practice outright or have other equity interests which must be taken into consideration when filing a long-term disability claim. No demonstrable loss of income often equals no “disability,” regardless of the medical condition.