Cover Your Assets Podcast with Billy Gwaltney

In this episode, host Billy Gwaltney takes a deep dive into the three key elements that make up a top private specialty disability policy and why they're essential for physicians looking to safeguard their financial security and maintain peace of mind. Billy breaks down each element in detail, offering insights and advice to help listeners make informed decisions about their coverage options. ...

Have you ever wondered why physicians are required to sign HIPAA authorization and HIV consent forms?  In this episode, host Billy Gwaltney answers this question and sheds light on the importance of these forms during medical screenings for disability coverage. Billy explains how the HIPAA authorization allows underwriters to verify medical information and request medical records if necessary, whi...

Why do shady brokers take advantage of so many innocent physicians?   The biggest reason is that most people want cheaper rates, even though the top 4 companies offer safe, worthwhile coverage... In other words, they set themselves up for misfortune… This leads to losing thousands of dollars every year. Plus, it causes hours of stress and endless troubles when a disability case comes up. In this e...

As a physician, your time is limited… So, don't waste it searching through info on disability insurance that won't help you. With so much bad advice out there, it's crucial to get the right details! Otherwise you risk yourself into policies that charge you crazy premiums and never pay off when crisis strikes… Leaving you and your family high & dry... That's why I'm here to share the crucial bits y...

Getting coverage is easy, considering all the options you have. But knowing what to pick or who to go to get help from is tricky. To make matters worse: There are tons of bad brokers that will gladly take your money from your pockets. And employers that promise big payouts but leave you high & dry in times of crisis… In this episode, I’ll reveal exactly how you can navigate the various minefields...

Embracing an entrepreneurial mindset unlocks unfair advantages. Not only does it save your most valuable assets (time and money), but it also makes you more credible in your patients' eyes. In fact, this can make you the top choice in your entire market.  But how can you embrace an entrepreneurial mindset as a physician?  In this episode, I reveal how to think like a business owner, and revel in t...

Picking the right disability coverage provider is a big deal. Why? Because they'll be your safety net when times get tough, and you'll be paying them for a long time. Make sure it's a wise investment. Join me in this episode as I reveal the top companies we recommend, along with what to watch out for. Plus, I'll share two more alternatives if you can't access the top four. Tune in now! Show Highli...

There’s a proper process you need to follow if you want to set up your disability coverage the right way. And it’s something most people miss when they self-insure… Join me in this episode as I guide you through the steps to get the cheapest disability coverage that protects you just as well as the expensive ones… Listen now! Show Highlights Include: The 4 best companies that offer true speciality...

Getting a benefit increase rider on your policy is the smartest move you can make to ensure a smoother life ahead. But there’s a catch… There are hidden pitfalls that most people don’t know about that give insurance companies the power to snatch away your precious benefit increase rider. Putting your future at risk. In this episode, I will unveil the surprising reasons people lose their benefit in...

There are two ways to retire as a physician: you can either retire sitting on a pile of assets you’re afraid to touch, or you can enjoy life, knowing your finances are secure no matter what happens to you. If you want to belong to the second camp, this is the episode for you. Today we’re joined for the second installment of Kyle Christensen’s 2-part interview on financial planning.  In this episod...

Why is it that doctors are so skilled, yet have so little control of their careers? Your time is controlled by your patients. And your salary is capped by insurance reimbursement rates. Financial planning, on the other hand, is one of the areas where you have plenty of control. Yet most physicians throw it away to financial institutions, praying they’ll have your best interests at heart. Spoiler a...

If you’ve ever thought about whether or not you need a broker, then you’re not alone. Thousands of physicians have asked the same question… It’s only responsible to know if you need to be spending money on something you could likely do yourself. Join me in this episode as we delve deep into the question on every physician's mind: Do I really need a broker? We'll explore the benefits and drawbacks...

Some people think it’s better to skip a broker and go straight to an insurance company to avoid paying an extra fee. Which is an excellent idea if you want to save money by doing the work yourself. But unfortunately, it is more complicated than you think. And often, it’s more expensive to go straight to the insurance companies because you won’t get the best rates (and you wind up paying for the br...

Most physicians think they’re invincible to accidents which can disable them and forever change their life. Physicians spend decades in school dedicating their lives to their careers, but never think twice about how quickly it can end or get altered. That’s what happened with today’s guest, Dr. Naguib Farah. Dr. Naguib thought he had good genes, and never considered he’d one day be unable to work...

Most trainees believe that they can get their coverage approved whenever they want. Which is absolutely not the case. Well, lucky for you, there is good news and bad news... The bad news is that your policy might get delayed by months, leaving you stranded without coverage. The good news? There are ways you can dramatically reduce your policy approval time. At times even get it approved by the nex...

Every working person is vulnerable to disability.  And being disabled reduces your earnings, which is why I always recommend a private disability policy. It’s one of the most effective methods for safeguarding a portion of your income while maintaining your standard of living. But how do you go about purchasing a private disability policy? In this episode, you’ll discover how to protect your hard-...

As a trainee, it can be tough to budget for disability coverage. But here's the thing: waiting to get coverage is like playing a risky game with your finances. Think about it - the longer you wait, the higher the interest rates on your coverage will be. It's like a ticking time bomb for your wallet. This is why it's important that you learn to take control of your financial and health destiny now...

How much are you paying right now for your insurance premiums?  There’s a 95% chance it’s too much. Because 95% of physicians are unaware they can reduce how much they have to pay in premiums on their coverage. How? By simply getting a discount through the right associations... And by doing so, there’s a good chance you can save up to 50% on your coverage.  In this episode, you’ll discover how to...

The state of Massachusetts is taking away gender-neutral discounting. This means that you can no longer add that to your policy to get a whopping 30-40% discount, which is the highest discount you can claim as an attendee.  Comparable to your trainee discount, which is not available to practicing physicians. In this episode, we show you how to use gender-neutral discounting to lower your premium r...

Disability premiums can be seen as a “luxury,” especially when various expenses wear you down. Which makes it easy to delay paying it until a later time. But this is a fatal mistake. Why? Disability can come knocking on anyone’s door at any time. So you must ensure your most valuable asset. That way, when hard times do come, you don’t have to sacrifice your and your children’s lives. In this episo...

What do you think, as a young physician, your most crucial asset is? Your retirement account or your real estate portfolio? Or some other type of holding? What if I told you it’s none of that… The most important asset as a young physician is your ability to get up from bed every day and do your job. We’re talking about a lot of money here, especially as a young physician in the early thirties, whe...

Many physicians end up paying more than necessary for the same exact disability policy as another one who pays half of what they do. Why? They committed one of the 5 major mistakes which skyrocket disability policy rates.  In this episode, you’ll discover what factors determine the cost of your disability policies, so you can get the best deal possible.  Listen now.  Show highlights: Why your disa...

When physicians reach out to me about disability policies, they always ask what types of disability policies are available.  There are two different types. But even though they’re both considered disability policies, one works in your favor and you may be forced to pay back your benefits with the other one. In this episode, you’ll discover the two types of disability policies, and which one you sh...

Employer long-term disability (LTD) coverage lures many young physicians into making a massive financial mistake.  Why? Because employer LTD coverage is much cheaper than private speciality policies. But the cheaper cost comes with an enormous cost: Not only is it much harder to collect at claim time, but many times employer LTD coverage doesn't pay anything at all, which can bankrupt your family...

Having a principal’s benefit update rider allows you to increase your coverage as your income grows. This is crucial because most trainees only get $5,000 a month in disability coverage, but specialists can get up to $30,000 per month.  But there are a few nuances with your benefit update rider. For example, you must increase it every 3 years (or else you’ll get trapped into your existing benefit...