ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 145: Do I Really Need to Increase My Disability Insurance?

There are very few people in the world who are happy to write a check to the insurance company. But it’s what’s referred to as a “necessary evil.” So when the question of “should you increase your coverage or not?” pops up, it’s easy to think of reasons as to why the current coverage amount is sufficient over obtaining more.

On today’s episode, we’ll talk about raising your disability insurance coverage from the point of view of the price-sensitive insured, as well as the objective fiduciary advisor, and also bring up blind spots that should be considered in making this decision.

Topics Discussed:     
  • Your most valuable asset and the importance of protecting it.
  • Trends and changes that have created a common blind spot for those in emergency medicine.
  • What most households have in their emergency fund.
  • The odds of needing to miss work, even for those that are young and healthy.
  • Reasons why you might want to increase your disability insurance.
  • The numbers that we go through with clients to make the right decisions on insurance.
  • Who needs disability insurance the most and how spending ties in.
  • The often unexpected costs and reality of dealing with disabilities.

Resources Mentioned:


ER, emergency doctor, emergency medicine, er doctor, financial planning, disability insurance,  disability, financial blind spots, insurance coverage, missing work

Scott Wisniewski, EA