Physician Safety Nets: Buying Disability and Malpractice Insurance

TIME: 1.5HRS

Physician Safety Nets

Buying Disability and Malpractice Insurance

Two forms of insurance can help save a physician's income and career if unexpected negative events occur: disability insurance and malpractice insurance. It's important for physicians to choose the right disability insurance policy in case they become ill or otherwise physically unable to practice. Also, medical malpractice lawsuits are an ongoing threat; having the appropriate policy can affect how a lawsuit proceeds. This course will cover:

Why physicians need disability insurance
The right level of disability coverage and key issues to watch out for
The importance of malpractice insurance
Elements within a malpractice policy that affect coverage
Factors that affect premium price

6 CHAPTERS

Why Physicians Need Disability Insurance

This chapter discusses the chances of becoming disabled and unable to work as a physician; elements of a disability policy; and the differences between individual and group disability policies.

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Deciding On Your Level of Coverage

This chapter describes the degree of coverage a physician may need, and the exclusions, limitations, and denials that can affect the type of coverage that is best for you.

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How Much Does Disability Insurance Cost?

This chapter describes the variables that affect premiums, and tells how physicians can choose which factors are right for them and will keep their premiums under control.

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Buying Medical Malpractice Insurance

This chapter discusses the importance of malpractice insurance; elements of coverage that are important, including tail coverage, occurrence and claims-made coverage; and the consent-to-settle clause.

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Purchasing Your Malpractice Policy

This chapter covers elements of purchasing a policy; how to choose a broker or an insurance carrier; when you need to get surplus lines coverage; and what to expect to pay in premiums.

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Pricing Malpractice Insurance

Physicians will learn about the factors and choices that can affect their premium price, such as group discounts, risk management discounts, and claims-free discounts.

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This content will become available after you have completed the prior chapters.

AUTHORS

Leigh Page

Freelance writer, Chicago, Illinois

Lawrence B. Keller, CFP, CLU

Physician Financial Services, Woodbury, New York

Dan Cavanaugh

Assistant Vice President, Membership Development, Cooperative of American Physicians, Los Angeles, California

ABOUT

PHYSICIAN BUSINESS ACADEMY

Medscape Physician Business Academy is designed to help all physicians, employed and self-employed as well as new and more established practicing physicians, become successful in their medical practice and career by providing the essential business information that most medical schools and residency programs don't teach.

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COURSE BENEFITS

BY COMPLETING 8 COURSES YOU WILL RECEIVE A CERTIFICATE OF COMPLETION. AFTER COMPLETING EACH COURSE, YOU’LL RECEIVE A LETTER OF COMPLETION.

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PHYSICIAN BUSINESS ACADEMY CERTIFICATE

Medscape Physicians Business Academy course content is provided for educational and information purposes only. If you have particular questions or concerns relating to your practice you should consult the appropriate legal, financial or other expert.

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