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KF Financial has specialized in helping medical and dental students, residents and physicians for over a decade. Based on our experience, we:
- Understand your unique situation, needs and complexities.
- Can guide you to the most beneficial disability insurance policy.
We can offer highly discounted group rates on excellent disability coverage. A group can be established with as few as two individuals working for the same employer. Groups of three or more can save 10 percent – and these favorable unisex rates can save women as much as 40 percent on their disability insurance premiums.
Group discount programs are already available to employees, including residents, at the following places of employment:
- Children’s Hospital, Denver
- Denver Health Medical Center
- Duke University
- Exempla
- Saint Joseph Hospital, Denver
- Staten Island Hospital
- St. Anthony Hospitals
- University of California, San Francisco
- University of Colorado Health Sciences Center
- And other employers nationwide.
Group discount programs are already available to dental students at:
- Children’s Hospital, Denver
- University of Colorado Health Sciences Center
Training for a career in medicine takes a big commitment. Long hours. And personal sacrifices. Right now, planning for your financial future may seem overwhelming. Perhaps you think you can put off getting disability insurance until later in your career.
If you are a medical or dental student in your third or fourth year, it is not too early to start thinking about protecting your future income. In fact, there is not better time for a physician to consider purchasing a personal disability policy. Since policies are based on your situation at the time of application, you have the opportunity to put yourself in the best light and lock in a policy based on your current age, health, and many other benefits.
- Your most valuable asset is your ability to bring in an income. In your case, your future income is the payoff for your years of training, hard work and accumulated debt.
- Physicians' and dentists' jobs are very physically demanding. Consequently, they are at a much higher risk than other professionals to become disabled in some capacity.
- Your student loans do not go away if you become disabled.
- As a medical or dental student, you are in the best occupational class. This means you can lock in your contract at the best rates and best definitions even if you choose a riskier specialty such as surgery in the future.
Insurance companies realize that you have great earning potential. Therefore they allow you to purchase over and above what another professional would normally qualify for.
If you are considering going on to do a fellowship or a riskier specialty, it may make sense to purchase your policy early since you may be in a better occupational class, giving you better rates. Once you have your policy at those rates, you will still be covered in your new specialty, but possibly at a reduced rate.
- You will never be younger, so rates will be less expensive.
- Qualifying for disability insurance can be difficult, so it is important to apply before you have any medical problems or conditions. Once you have the policy, it can't be taken away from you as long as you pay your premiums (if your policy is non-cancellable, guaranteed renewable).
- By making a responsible decision early on to purchase a policy, you build the platform to allow your policy to follow you for your entire career.
- When you become a resident, your group disability policy may not protect you in the way you wish to be protected. For more information, see Medical Residents page.
If you are concerned about paying for disability insurance during residency, there are several things we can do to reduce your premium as much as possible.
• Some companies allow a "graded" or increasing premium. This is initially less expensive and your premium will increase each year. If you wish to lock it in at a later time, you may do so on any policy anniversary.
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