Cover Your Assets Podcast with Billy Gwaltney

Unlocking the best disability coverage for physicians in the nation is a simple process. But it does require your medical records and an underwriter.  While most physicians have no trouble with this process, it can take longer than expected for insurance companies to make sure you’re healthy-ish. But there are a few simple things you can do to speed up this process, and eliminate your worry about...

We live in an uncertain and unpredictable world where one small mistake can cause untold decades of suffering. Becoming disabled, for example, threatens your ability to make a living, pay off your student loan debt, and provide for your family.  That’s the bad news.  The good news?  Picking the right disability insurance creates certainty out of thin air. Especially if you suffer from a career-end...

Many of my clients plan on moving to California after their residency. And so they ask if they should purchase disability insurance before moving.  My answer? Absolutely! In fact, disability insurance costs 20-30% more in California compared to any of the 49 other states.  In this episode, you’ll discover some tricks to keep your disability insurance rates low (even if you plan on moving to Califo...

As a specialist, you have worked hard to grow your practice. But you never know when an unforeseen circumstance might sneak up and destroy your income and way of life.  Navigating the ins-and-outs of own-occupation disability insurance is confusing and lethal — especially when you do a lot of procedures & clinic work.  But it doesn’t have to be this way.  In this episode, you’ll discover how to cu...

Good disability coverage could be the difference between financial security for life, and being broke and bound to a wheelchair.  There are between 70 and 75 disability insurance companies to choose from in the USA. Most of them weasel their way out of paying you, with a team of lawyers (and ill-defined policies).  And if you’re a woman, it gets worse: most companies charge you higher premiums jus...

If you became permanently disabled, would you be able to pay off your student loan debt?  The average student loan debt for a physician is $201,490. In other words, that's $2,288 a month, paid every single month for the next 10 years.  How would you be able to cover this expense if you weren't able to work anymore? What would happen to your house, your car, your kids, and your family? How will you...

You already know that disability insurance is something you need to have as a medical professional. But as your income increases over time, you may wonder which option is the best for you. To help you cut through the clutter, Billy takes a closer look at the top insurance plans for physicians in the market. This week, he explains one of the most popular ones: Guardian. Listen now to discover the p...

As a physician, long-term disability insurance is a must. And as your salary increases, you’ll need to increase your coverage as well to match your income.   But navigating insurance policies can be a nightmare. With so many different options, it takes forever to cut through the clutter and pick the best fit for you.  To help you decide, Billy explores the best policies on the market. Tune in as w...

If you’ve ever looked into disability insurance coverage, you know that it can be confusing. There are so many terms and definitions that it can make your head spin. But if you focus on the essentials, it becomes easier to understand. In this episode, Billy goes over the 4 key elements of a disability insurance policy that you must understand, and explains why they matter to you and your family. ...

You probably already know that disability insurance is something you need to have, but you might have wondered if you need it while you’re young and not making much money.  In this episode, Billy discusses the benefits to getting your disability coverage as soon as possible, and why waiting could leave you without insurance when you need it most. Highlights from this episode include: The #1 reason...

Getting your own specialty disability coverage is one of the best decisions you can make for your financial future. But should you try to do it by yourself? If you’ve ever looked into disability insurance, you probably know that policies are filled with confusing language and definitions. And to top it all off, companies use their own special names that don’t always make sense. And then there’s th...

When it comes to you and your disability insurance, words matter. Specifically the policy language that defines your occupation. How this part of the policy is worded can make the difference between the insurance company paying you during a disability, or leaving you high and dry on a technicality. In this episode, Billy discusses how this definition should be worded and common pitfalls that docto...

Buying disability insurance can be confusing—especially as a physician. With all the different levels of experience, specialties and more it’s easy to get overwhelmed by all the options.  But when you have a clear overview, your confusion fades and you get confidence that lets you make a great decision for yourself and your family. If you’re in a non-surgical specialty and want to discover what di...

You're a busy physician. You barely have time to think, let alone worry about things like disability insurance policies.  But the wrong policy could mean the difference between being able to support your family and losing everything if you can't work due to an illness or injury. That's why we're here to help.  In this episode, you'll get a 30-minute rundown of the policy spreadsheet, so you never...

As an early-career doctor, you’ve barely got a spare minute to yourself. The last thing you want to do is spend hours poring over insurance policy options.  But choosing the right disability insurance policy is one of the most important financial decisions you’ll ever make. Without it, you could lose your biggest asset: your ability to earn an income. Thankfully, brokers make your life easier by c...

You know that disability insurance protects you if you are injured and unable to work, allowing you to still provide for your family. But what about the true worst-case scenario… Dying and leaving your family without any financial resources at all. This is where life insurance plays a significant role in your financial plan. In this episode, Billy discusses how to calculate the proper amount of li...

Ameritas, one of the largest disability insurance companies, has two fixed premium choices. And while one is more expensive than the other, it doesn’t make it the best rate. Or even the one you should choose.  There are many reasons to pick a policy. But you shouldn’t depend on price alone (especially when those prices can change).  Knowing the nature of a policy helps you make the best choice. So...

When it comes to getting reimbursed for any injuries, there are 4 top tier companies that offer a non disabling injury benefit in your contract. But knowing how this benefit impacts you makes all the difference in your next injury.  You don’t want to fall in debt or lose your job over a sprained ankle. Risks are everywhere and protecting yourself is the key to a long and successful career.  Listen...

Top insurance companies are quick to roll out the red carpet for physicians-in-training. They offer large discounts and quick medical scanning.  It’s a great deal if you can afford it. But it’s not as easy putting your life on hold and going into debt for a career. It’s difficult getting the best discounts for your career and health. Budget shouldn’t get in the way of affording the life you deserv...

When you feel unsure about picking a policy, a broker agent can influence your decision. Trust is important. You should have an agent who is always looking for your best interest in a policy. You want to have confidence an agent is on your side and always advocating at your time of claim. A policy should feel in your control (and not the other way around). Make sure you’re on the right page with y...

AMA leads as the big influence in disability policies. But their prices may not be worth the coverage you get. A true policy lets you earn unlimited benefits (and keep the benefits you have). There are a lot of gaps in AMA policies. And at the end of the day, you need control over your policy.  Is AMA here to protect you or collect from you? Listen now to see if you can trust what AMA policies hav...

There are so many different options when it comes to choosing your insurance plan. From future insurability potential to benefits that will increase as your earning does, choosing between the wide array of plans can become overwhelming quickly.  When looking toward your future, it can be even more difficult to decide whether you should bet on your future earning capabilities, or go with a plan tha...

If your employer provides you with a group disability insurance plan, buying private coverage might feel redundant.  But if you do become disabled, you don’t want to lose the lifestyle you’ve worked so hard to achieve.  So collecting both seems like a great way to ensure you and your family miss nothing. In this episode, you’ll find out all about collecting disability insurance from two policies....

Many trainee physicians are afraid of needing disability leave. As a trainee, you don’t have guaranteed job stability and insurance coverage like full time residents or fellows.  That makes it tough to worry about an accident or needing disability leave. Disability insurance promises you peace of mind. But it’s tough to find the right policy: Some providers don’t offer much coverage, they’re expen...

Employers of resident or fellow physicians often provide Long Term Disability coverage. But does that coverage mean you can’t get your own LTD insurance? The good news: An employer plan does not stop you from getting additional, private insurance. But not all insurance plans are created equal. If you want the most comprehensive long term disability coverage, you have to be aware of a few catches....