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Think about how you spend your income – you have a mortgage to pay, car payments, utilities, groceries. And that’s just scratching the surface. If that income were gone tomorrow how long would you survive?
If the unthinkable happens, you and your loved ones can still maintain the lifestyle you are accustomed to.
Your patients should get their health examined annually, right? Likewise we perform an annual wellness check to make sure your financial future is still protected.
Just like taking care of your health, we believe you should check your financial protection program at least once a year.
We like to ask our clients a few questions to determine if this is something you need.
This is completely situational and exactly what we want to chat with you about. Everybody has different needs and different lifestyle expectations once an income is lost.
This is another dependent question, but we are able to get many covered for as low as $20 a month.
If you are considering protecting yourself then we imagine you have lots of questions. Let’s connect today so we can discuss your unique situation and how we can benefit you.
Dr. Silva gets a terminal illness. There is an experimental treatment that she would like to try, but the cost is astronomical. She decides that she doesn’t have the financial ability to pay for that procedure. Her focus is now to conserve what she has left for her family when she is gone.
Dr. Liu gets a terminal illness. She decides to pull one and a half million out of her protection plan. She uses $750,000 to get an experimental treatment in Europe and the other $750,000 to make up for her lost income and extra living expenses during the procedure and recovery. She has lost no income during this time and has even added decades to her life because of the successful procedure.
Dr. Kumar is in a car accident. He can’t work or take care of himself for a year while he recovers. While being unable to work, his income is now down to $0. Unfortunately, his wife is the office manager, and now her income goes to $0 as well. Even worse, he has no coverage for necessary care for things such as bathing, feeding himself, or other activities of daily living he can no longer do.
Dr. Ahmed after her car accident, is able to take $30,000 a month in tax-free income for her and her family’s needs. This $30,000 a month provides for her and her family and she doesn’t have to set foot in the office. This can be used for providing in home care for the year and just about anything else she wants.
Dr. Smith gets a critical illness. She has the ability to get an experimental treatment, but the cost will be out of pocket and she has to choose to take that money from the nest egg she has saved to take care of her family. She also doesn’t want to lose her income so she struggles to keep working while going through her treatments. Dr. Smith does have a disability policy, however, because she can still work, it has no payout.
Dr. Kim gets a critical illness. The stage 3 cancer has an experimental treatment that she can try out. She is able to pull out up to 1 million dollars tax-free to replace her income as well as pay for the experimental treatment.
Dr. Freeman and Dr. Wiseman are old friends from medical school. They decide to go skiing together in Telluride. While there they both get into a skiing accident. Dr. Freeman becomes partially paralyzed due to the accident. Unable to work, his income has now gone to $0.
Dr. Wiseman was in the accident as well and incurred a brain injury that will take him several years to recover from. Traditional life insurance won’t cover something like this as the injury was not fatal. Dr. Wiseman’s protection plan, however, can replace his lost income and protect him while he recovers over several years.
