When did you last meet with your insurance advisor to review your disability and professional expense insurance needs? It’s usually recommended that you review your coverage every 2 years, or if your practice changes.
The Doctors of BC INCOMEprotect Disability Insurance and Professional Expense Insurance plans offer the optional Guaranteed Insurability Benefit rider. Guaranteed Insurability Benefit allows you to increase your coverage, without health questions, each November during the open enrollment period. If you apply to increase your coverage outside of open enrollment, proof of health will be required.
INCOMEprotect Disability Insurance
A standard insurance industry recommendation is to carry 30% to 40% of your net income in tax-free disability insurance. It’s important to maximize your disability insurance: if you were unable to work due to illness or injury, your disability benefits could be your only source of income. During a disability, your family’s monthly expenses would continue. Would your disability benefits be sufficient to cover those costs, or would you face difficult decisions such as cancelling children’s activities, pausing mortgage payments or education investment, or depleting your savings? You also need to continue saving for your retirement during a disability, since disability benefits end at age 65.
If your practice has grown, if you’ve moved to a new payment model, or if your last disability insurance review was over 2 years ago, a Doctors of BC insurance advisor will be pleased to review your coverage to ensure that it meets your current needs.
Professional Expense Insurance
If you’re unable to work due to a disability, Professional Expense Insurance will provide a tax-free monthly reimbursement benefit for your professional expenses, including clinic overhead, membership dues, accounting fees, office rent or mortgage, equipment leases, and staff salaries. Many of your practice expenses will continue regardless of whether you’re able to work and earn income. If your Professional Expense Insurance is inadequate, you may have to divert funds from your personal disability payments or deplete your personal savings to keep your practice running during a disability.
Review your insurance needs
Speak with a licensed Doctors of BC insurance advisor for a review of your insurance needs. Email firstname.lastname@example.org to schedule a phone or virtual meeting.
Client Services Administrator, Members’ Products and Services
|This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.|
Above is the information needed to cite this article in your paper or presentation. The International Committee
of Medical Journal Editors (ICMJE) recommends the following citation style, which is the now nearly universally
accepted citation style for scientific papers:
Halpern SD, Ubel PA, Caplan AL, Marion DW, Palmer AM, Schiding JK, et al. Solid-organ transplantation in HIV-infected patients. N Engl J Med. 2002;347:284-7.
About the ICMJE and citation styles
The ICMJE is small group of editors of general medical journals who first met informally in Vancouver, British Columbia, in 1978 to establish guidelines for the format of manuscripts submitted to their journals. The group became known as the Vancouver Group. Its requirements for manuscripts, including formats for bibliographic references developed by the U.S. National Library of Medicine (NLM), were first published in 1979. The Vancouver Group expanded and evolved into the International Committee of Medical Journal Editors (ICMJE), which meets annually. The ICMJE created the Recommendations for the Conduct, Reporting, Editing, and Publication of Scholarly Work in Medical Journals to help authors and editors create and distribute accurate, clear, easily accessible reports of biomedical studies.
An alternate version of ICMJE style is to additionally list the month an issue number, but since most journals use continuous pagination, the shorter form provides sufficient information to locate the reference. The NLM now lists all authors.
BCMJ standard citation style is a slight modification of the ICMJE/NLM style, as follows:
- Only the first three authors are listed, followed by "et al."
- There is no period after the journal name.
- Page numbers are not abbreviated.
For more information on the ICMJE Recommendations for the Conduct, Reporting, Editing, and Publication of Scholarly Work in Medical Journals, visit www.icmje.org