Selling Disability Insurance to Medical Residents

Medical school is a massive investment of both time and money. During the late spring and summer months, many graduating students embark on their residencies or fellowships or begin their medical careers, and this is the time in a physician’s career when a disabling injury or illness is most devastating.

Because prospective medical doctors have made such a significant financial investment, insurance carriers have established certain benefit amounts that don’t require financial justification. By experience, they expect most physicians will make at least $100,000 a year once they complete their training.

All of Fortify’s insurance carriers offer specific benefit programs for individuals who are in a medical residency or fellowship program or are about to begin their medical careers. We support three general plan designs:

  1. All individuals in a residency or fellowship can apply for up to $5,000 per month in tax-exempt disability insurance.
  2. Those who are within 180 days of completing their training can apply for up to $6,500 to $7,500, depending on the carrier.
  3. For individuals on a tight budget, we can construct a plan that provides a minimum monthly benefit for now with future increase options as their income rises.

These are general guidelines that may vary somewhat depending on the specific insurance carrier and the individual’s situation. To find out more about Fortify Insurance’s products for medical residents and fellows, see our brochure below, contact us, or give us a call at (203) 226-4077.

Additional Resource (click for printable PDF):

A Program for Select Professionals