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    Understanding the need for long-term disability insurance

    About five years ago, Tom Davis, MD, started suffering occasional vestibular migraines. Sometimes he felt unstable on his feet, but most concerning of all: He began losing his hearing. 

    But in July 2016, Davis experienced complete hearing loss. “I was sitting out on my front porch during a rainstorm, and I wasn’t able to hear the water falling,” he remembers. “That’s when I said, ‘If I can’t hear the water falling, I certainly can’t represent myself to my patients as a full-service clinician.’”


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    Davis says he is sharing his story not to highlight his problems but to show how fortunate he is to have long-term disability (LTD) insurance.

    LTD insurance is coverage that replaces a portion of a physician’s income should he or she become unable to work because of illness or injury. It begins paying benefits after a set length of time, called an “elimination period,” usually 90 days, during which short-term disability coverage may apply.

    Securing LTD coverage can be complicated, confusing and expensive. But insurance experts, advisers and physicians who’ve suffered injury or illness all agree: Doctors need it.

    Next: Protecting an asset


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