Hello! I just graduated as a veterinarian, and now I have to make a bunch of important life decisions. For those of you in the states, do you pay monthly for disability insurance? I was quoted about $114/month through TPVS. My mom is concerned they are preying on new grads, but I also feel like it is something important to have in case of an incident. Thanks!
Hi this is a Canadian forum but that sounds close to what I’ve heard from Americans. You really need to think about some of the features though, try searching the White Coat Investor website for guest posts on disability insurance.
Congratulations on your graduation. As a new vet graduate, you should absolutely get a private disability insurance. that way you can keep this plan over your entire practice. Group disability insurance in the US is terrible, much worse than what we have in Canada. So you really need to get the individual insurance as a professional who could be self employed at some point in your career.
$114 per month is not unusual if you have a good policy that is for your “own occupation”. You may want to shop around, but focus on getting a policy that covers your “own” occupation, has inflation protection, and give you the option to increase your coverage amount each year as your income rises. Get advice from an insurance broker you trust.
David Brannen
Disability Lawyer with Resolute Legal
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