Disability Insurance for Otolaryngologists (ENT): Guide for 2024

Becoming an otolaryngologist (ear, nose and throat specialist or ENT, including surgeons) can cost a lot of time and expense. In addition to getting an undergraduate degree, you must go through medical school while choosing otolaryngology as a medical specialty.

After completing medical school, you’ll then go through a residency of at least five years. Only then can you become board-certified for head and neck surgery through the American Board of Otolaryngology-Head and Neck Surgery (ABOHNS). Not only is this a lengthy process, but you also likely have student loans due to the high cost of college.

As an otolaryngologist, surgical techniques are important. Hand injuries can be especially problematic. Disability coverage can help you protect these important assets. A good plan from a well-rated insurance carrier can help provide you with income while you heal.

Since physicians, including otolaryngologists, have a median income of $208,000 per year in 2021, protecting your income with a policy that addresses your unique needs can make sense.

Let’s review disability insurance and how you can get a quote to protect your ability to make a living.

Otolaryngologist disability insurance premium cost

Your cost will depend on different factors, including:

• Medical specialty. Otolaryngologists might need to perform surgery, which is considered invasive and can lead to a higher premium.
• Age. You’re likely to pay lower premiums if you’re younger.
• Health status. More healthcare needs often result in higher premiums.
• Location. Where you live and practice matters as well.

A good broker can take you through underwriting requirements and help you figure out how to get the best bang for your buck.

A good rule of thumb is to plan to spend between 2% and 4% of your income on disability insurance premiums.

Below is a sample of different potential disability insurance options and costs, including possible discounts. A broker can personalize your quote.

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

Company	Male	Female
Guardian	$204	$297
MassMutual	$175	$273
Principal	$163	$287
Ameritas	$151	$232
Standard	$168	$267

Why do otolaryngologists buy disability insurance?

Even though the Bureau of Labor Statistics lumps otolaryngologists in with other physicians, Salary.com reports that the typical range for an otolaryngology salary is $338,421 and $464,058. Health insurance might cover your medical costs after an injury or if you have a long-term illness that doesn’t allow you to work. However, your income won’t be protected during this time.

Disability insurance is designed to partially replace your income (after a waiting period). Some policies might even cover a partial disability. Generally, you can receive coverage until you’re 65 years old. Receiving a monthly benefit to help manage your bills and other costs can help you avoid losing your home or falling behind in other ways.

As an otolaryngologist making a high income, a couple thousand from Social Security will probably not come close to covering your living expenses. That's why an own-occupation disability policy is so important.

SLP Insurance can help you get the protection you need. Just fill out the form below, and we'll connect with you about your own-occupation disability options. Also, keep reading to learn more about ENT disability insurance costs and riders you'll need to buy.

What should otolaryngologist disability insurance cover?

As you shop around for a good policy, compare different disability insurance companies. A knowledgeable insurance broker has access to multiple insurance carriers and often knows about discounts for medical students and those in residency. Consider testimonials of other otolaryngologists and people in your network to find a good broker.

Some items to consider when comparing policies include:

• Own-occupation. An own-occupation policy provides benefits if you can’t perform the specific duties of your job as an otolaryngologist but might still be able to work elsewhere.
• Future increase in riders. As a medical student or resident, you might not have a large income so you might opt for a smaller benefit. But what happens when you have a higher future income? Some disability insurance plans allow you to boost your coverage later without needing an exam or a look at new health conditions.
• Partial disability. With this type of benefit, you can replace some of your income with a disability claim, even if you can still do some work.

Pay attention to disability insurance coverage limits as well. In some cases, if you have group coverage, your regular expenses might be higher than the limit. For example, if your basic expenses are $7,500 per month, you likely won’t have enough insurance through a group policy to manage your cost of living. An individual policy can make sense.

Don’t forget to consider the benefit period and whether you get short-term or long-term disability insurance. Know the waiting period, the policy definition of disability and whether the insurance is cancelable.

What kind of disability insurance coverage is offered to otolaryngologists?

As you consider your unique needs, consider the following places to find the right disability coverage for you.

Employer coverage

Many employers offer disability policies. However, the coverage amount might be too small to cover your needs, or you might not have access to other benefits you want. Also, group disability insurance is taxable income, according to the IRS. Consider supplementing your group coverage with an individual plan.

Professional association

All medical specialties can access group coverage due to membership in the American Medical Association. Another option is looking for discounts on various products through the American Academy of Otolaryngology-Head and Neck Surgery.

Individually purchased policy

Rather than relying on an organization, you can use an insurance broker to help you find a disability policy that meets your unique needs. Medical professionals, including otolaryngologists, have their own needs for disability coverage. A broker understands various programs and discounts and underwriting requirements.

Guaranteed Standard Issue

Medical residents and fellows might have access to guaranteed standard issue (GSI) policies. Some brokers might not earn a commission, so you might have to ask about eligible coverage. On the other hand, Student Loan Planner will recommend the best policy, regardless of commission.

Most of the time, attending physicians can’t get a GSI policy. However, you might qualify if you’re an otolaryngology resident or fellow. Some places that offer GSI policies with discounts include:

• Children’s National in Washington, DC
• Stony Brook University
• UC-Davis

Receive a disability insurance quote by filling out the form below. One of our partner agents will reach out with the next steps.

How much disability insurance do otolaryngologists need?

Generally, a disability policy will pay out about 60% of your income. So, you might need to plan ahead if you make $375,000 a year as an otolaryngologist. Not every policy is the same; some might pay less in benefits and impose limits. Read the fine print carefully before deciding on a policy.

Before purchasing a large amount of disability insurance coverage, consider the following:

Otolaryngologist disability payout amount

Start with the payout amount as a percentage of your income. If you make $375,000 annually and you receive 60% of your income, you might get $18,750 in monthly tax-free benefits.

Remember: an individual policy payout is tax-free, unlike an employer policy, which is taxable.

Review your budget to see what payout you need. Make sure your necessities, like housing, insurance, utilities, groceries and other items, are covered by the payout amount. Single-income households might need to consider buying a higher amount of disability insurance.

Why you need to review your otolaryngologist disability insurance policy

Before you commit to a policy, it’s important to review your disability insurance policy. Here are some things to consider:

• True own-occupation definition. Many policies include weak definitions to save the insurance company money.
• Insurance company-agent kickbacks. Many insurance companies pay high commissions to dedicated agents. This limits where you can get your policy. A broker can access different options from various companies.
• Terms for pre-existing conditions. Be careful if you have pre-existing conditions. Some policies aren’t available to those with previous issues. Know what’s not covered and look for a policy that will cover your specific need.
• You might be undercovered. Don’t assume group coverage is adequate. A recent audit of a physician's policy found $5,000 a month of coverage even though his housing costs were $8,000 a month.

Get disability insurance for otolaryngologists

SLP Insurance and its partner agents specialize in getting otolaryngologists the true-own occupation disability insurance coverage they need. We go to great lengths to customize your quote with only what you need, and have numerous discounts. If we can’t find you the policy you need, we’ll refer you to a broker who can, even if we don’t earn a commission from the referral.

Get a quote with the form below, and our team will reach out!