Disability Insurance for Emergency Medicine Physicians: Guide to Costs

Working in emergency medicine requires a level head and a broad knowledge of the many types of injuries, illnesses and conditions that could come through the emergency room doors. In addition to earning a medical degree, emergency medicine physicians complete up to four years of residency. Many go on to specialize in areas, such as pediatric emergency medicine, pain medicine and more.

Considering many EM doctors go into six-figure student loan debt and enjoy affluent lifestyles, it makes sense to protect your high physician salary and education investment with long-term disability insurance.

Here’s what you need to know about disability insurance for emergency medicine physicians.

Emergency medicine physicians: Disability insurance premium costs

As a general rule of thumb, you can expect to pay between 2% and 4% of your income for true own-occupation disability coverage. This type of disability policy provides the best protection because it has a broader definition of disability, making it easier to file a claim based on your duties as an EM physician.

That said, a number of factors can impact your disability premiums, including your occupation, age, gender and more.

Generally speaking, the older you are, the more expensive it’ll be. Additionally, women can pay up to 35% more for disability coverage. However, many policies have unisex discounts to even the playing field.

Here’s a sample quote illustrating premiums for female versus male emergency medicine residents.

Emergency medicine own-occupation disability insurance monthly cost
(Age 34, resident/fellow)

Company	Male	Female
Guardian	$180	$283
MassMutual	$159	$250
Principal	$168	$303
Ameritas	$202	$323
Standard	$175	$291

A female EM resident could purchase true own-occupation coverage with a $5,000 benefit and future increase option for about $250 to $320 a month. Whereas the same coverage could only cost a male resident about $160 to $200 a month.

Related: Graded vs. Level Premium Disability Insurance: A Breakdown of Costs

Why do emergency medicine physicians buy disability insurance?

As an EM physician, you’re the first line of treatment when assessing emergency injuries and illnesses. So, you’re well-acquainted with the endless freak accidents and health conditions that can strike unexpectedly. Any of which could impact your ability to work at the fast pace required for an emergency department.

Fortunately, disability insurance can protect your EM physician salary by providing a monthly benefit if you become disabled.

Some physicians solely rely on their employer group coverage or bank on short-term disability insurance being enough. But a long-term disability policy will pay you for several years while you heal or up to retirement age, depending on your benefit period.

If you’d like a custom quote for disability insurance for emergency medicine doctors, fill out the form below. Otherwise, keep reading to learn more about coverage options and expected premiums costs.

What should emergency medicine physicians disability insurance include?

There are a lot of “shades” of disability insurance, and each variable can change your coverage and costs. So, here are some of the main policy decisions to consider:

• Own-occupation coverage. A standard any-occupation policy won’t benefit you unless you become completely unable to work. But an own-occupation definition of disability only requires that you’re unable to perform your duties as an EM doctor. Additionally, it allows you to work outside of emergency medicine, earning another income without penalty.
• Future increase rider. As a resident, your future income will increase rapidly. This means the coverage you qualify for now won’t necessarily cover your expenses years from now. A future purchase option allows you to buy more coverage without undergoing another medical exam.
• Partial disability benefits. If you aren’t totally disabled but still need to reduce your workload (e.g., hours, duties, etc.), you can qualify for residual disability benefits.

Other optional riders might include catastrophic coverage, student loan protection, cost-of-living adjustment (COLA) and more. Speak with a knowledgeable insurance agent to determine which policy riders match your needs and budget.

How often do emergency medicine physicians file disability insurance claims?

Disability insurance companies use historical claims data to predict your likelihood of filing a disability claim. Because you’re an emergency medicine doctor, you fall into a high-risk category, which means you’ll likely pay higher premiums than, say, a primary care physician.

Although paying more isn’t ideal, it further supports the need for disability insurance for emergency medicine physicians as you have a greater risk to protect.

Top types of disability insurance for emergency medicine physicians

Here are the primary places to search for disability insurance for emergency medicine physicians.

Employer-offered group policies

Many hospitals and medical facilities offer group coverage to their employers at no cost. However, these plans usually have a capped disability insurance benefit and aren’t tailored to your medical specialty. Additionally, your disability income will be taxable income, further cutting into your payout.

Disability coverage with professional association membership

Some professional organizations offer disability insurance partnerships to their members. For example, the American Medical Association (AMA) and the American College of Emergency Physicians (ACEP) offer disability insurance discounts for residents and attendings.

Individual disability insurance policy

If you’re a self-employed physician or need additional coverage, an independent insurance broker can help find an appropriate individual disability insurance plan. It’s best to use a broker who will search the “Big 6” insurance carriers as they underwrite the majority share of true own-occupation policies.

Guaranteed Standard Issue policy through your residency

Guaranteed Standard Issue (GSI) policies are available to residents and fellows, depending on your program. These policies don’t require medical underwriting and they carry unisex discounts. This makes them a great option for physicians with existing medical conditions and women who might pay more elsewhere.

GSI policies are accessible through programs at NYU Medical Center, Ohio State University, University of Iowa and many more.

But depending on your individual needs, there might be other discounts or coverage options that benefit you more.

How much disability insurance do emergency medicine physicians need?

Long-term disability insurance won’t replace your full salary. But it can help cover your normal expenses and keep you in a similar lifestyle while you recover or adjust to living with a disability.

Let’s say you earn the average EM physician salary of $373,000, according to the 2022 Medscape Physician Compensation Report. If you were to buy an individual policy with a maximum benefit of 60% of your income, you could receive a monthly disability benefit of $18,650. That’s a huge benefit!

Additionally, since you paid for your disability premiums with after-tax dollars, your full benefits would be tax-free.

But maybe you live below your means or have some level of existing disability coverage. In which case, you might not need the full benefit. You can choose a smaller payout amount and lower your monthly premiums to fit your budget.

Just be sure you have enough disability insurance to cover your fixed expenses with a few thousand dollars extra as a cushion for peace of mind.

Why you should review your emergency medicine physician disability insurance policy

Here are some specifics to be aware of when reviewing your existing coverage or shopping around for an individual disability policy:

• True own-occupation coverage will give you the strongest definition of disability, making it easier to file a claim than a generic any-occupation policy.
• Make sure you understand basic plan details, such as the benefit amount, waiting period and policy riders.
• Working with the right insurance broker makes a big difference, especially when you have a pre-existing medical condition or could benefit from unisex discounts. 

If you have group coverage, it likely isn’t enough due to limited benefits and a narrow definition of disability. In which case, a supplemental disability policy can fill the gap to provide you with adequate coverage.

Get a quote for disability insurance for emergency medicine physicians

EM physicians can benefit from true own-occupation disability coverage that protects their high income. Fill out the form below to get a custom quote for disability insurance for emergency medicine physicians. We’ll search for available discounts and guide you through coverage options.