By Martin Hurst, Insurance Service Representative
The Residual Disability Rider is an essential addition to a physician’s disability insurance policy. It provides financial protection in the event of a disability that limits your ability to work at full capacity. Unlike standard policies that only pay out when the policyholder is completely unable to work, this rider ensures partial benefits if a physician can still perform some duties but earns less due to reduced hours, fewer patients, or other limitations. By covering the income gap during partial disability, it offers crucial financial stability and flexibility throughout a physician’s career, even during recovery periods.
I worked with a physician who injured his wrist while playing tennis. Although he could still see patients for office visits, his ability to perform procedures – which was critical to his practice – was significantly impacted. Thankfully, he had chosen a Residual Disability Rider as part of his disability insurance policy. This rider provided partial benefits, helping to offset the income lost due to his reduced capacity to work. With this coverage, he was able to stay financially stable, cover his expenses, and focus on his recovery.
For physicians, whose income often depends heavily on their ability to perform specific tasks or maintain a certain patient load, the Residual Disability Rider provides a critical safety net. It offers peace of mind, ensuring that a partial loss of ability won’t lead to a total loss of income and helps maintain financial stability during challenging times.
To learn more about your disability insurance options, please contact Martin Hurst at martin.hurst@wismedassure.org or call 608.442.3728.
Note: This article is for informational purposes only and should not be considered as insurance advice related to your specific policy or situation. Please consult with a qualified insurance advisor or professional before making any policy decisions. Full disclaimer and contact information.