Shows
Cover Your Assets Podcast with Billy GwaltneyBeware of Your Employer’s Group Long-Term Disability PolicyIn this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the critical importance of understanding disability insurance for physicians. He emphasizes the pitfalls of relying on employer group long-term disability policies and highlights the advantages of private specialty coverage. The conversation covers the limitations of group policies, including adverse selection and broad definitions of disability, and stresses the need for physicians to be proactive in securing their financial future through proper insurance planning.Chapters(00:20) Welcome(02:59) The Limitations of Employer Group Policies(05:47) The Advantages of Private...2025-07-1608 minCover Your Assets Podcast with Billy GwaltneyWhat Happens to my Disability if the Benefit Increase Rider is Removed?In this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of disability insurance, particularly focusing on the benefit increase rider. He explains its significance, the consequences of not maintaining it, and shares a real-life example of a physician who faced challenges after losing coverage. The conversation emphasizes the importance of understanding insurance details and making informed decisions to ensure financial security.Chapters(00:20) Welcome(00:49) Understanding the Benefit Increase Rider(03:16) The Importance of Keeping the Rider(06:36) Real-Life Consequences of Losing Coverage2025-07-0208 minCover Your Assets Podcast with Billy GwaltneyDisability Claims are Not the Same as Health Insurance ClaimsIn this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the critical differences between disability insurance and health insurance claims, particularly for physicians. He emphasizes the importance of choosing the right insurance carrier and understanding the claims process, highlighting that the majority of claims are approved when handled correctly. Gwaltney shares insights on the four top carriers for specialty coverage and the significance of having the right definitions in insurance contracts to ensure financial security for physicians.Chapters(00:20) Welcome(03:03) Understanding the Claims Process(05:55) Choosing the Right...2025-06-1808 minCover Your Assets Podcast with Billy GwaltneyMaximizing Disability Coverage for New Attending PhysiciansIn this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of private specialty disability coverage for physicians, particularly focusing on how and when they can increase their coverage after graduation. The conversation highlights the importance of understanding insurance guidelines, the relationship between attending salary and coverage amounts, and the necessity of timely adjustments to ensure adequate protection against potential disabilities.Chapters(00:20) Welcome(03:04) Navigating Coverage Increases After Graduation(05:49) Importance of Timely Coverage AdjustmentsThe Cover Your Assets Podcast is on a...2025-06-0410 minCover Your Assets Podcast with Billy GwaltneyGroup Disability Policies Vs. Private Specialty CoverageIn this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the critical differences between group disability policies offered through associations and private specialty coverage. He emphasizes the importance of understanding the gaps in association policies, including definitions of disability, control over the policy, and the significance of individual coverage. The conversation highlights the potential pitfalls of relying on association policies and the benefits of securing a private policy for long-term financial security.Chapters:(00:20) Welcome(03:12) Key Differences Between Private and Association Policies(07:04) The Importance of Individual...2025-05-2108 minCover Your Assets Podcast with Billy GwaltneyUnderstanding the AMA Disability PolicyIn this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the significant gaps in the AMA disability policy that physicians should be aware of. He outlines five key elements that highlight the shortcomings of the policy, emphasizing the importance of understanding the details of disability insurance. The conversation serves as a cautionary tale for physicians considering the AMA policy, urging them to be vigilant and informed about their insurance choices.Chapters:(00:20) Welcome(07:15) Key Gaps in CoverageThe Cover Your Assets Podcast is...2025-05-0708 minCover Your Assets Podcast with Billy GwaltneyNavigating Disability Insurance: Graded vs. Level PremiumsIn this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the intricacies of selecting a graded premium policy for private specialty disability coverage. He explains the differences between graded and level premiums, emphasizing the long-term financial implications of each choice. The conversation highlights the importance of understanding the terms of disability insurance policies, especially for physicians, and provides insights into when a graded premium might be a viable option. Billy also addresses the common misconception that lower initial premiums equate to better deals, urging listeners to consider the long-term costs associated with graded premiums.2025-04-2310 minCover Your Assets Podcast with Billy GwaltneyNavigating Long-Term Disability Insurance: Voluntary Employer Group Long-Term Disability PoliciesIn this episode of the Cover Your Assets podcast, host Billy Gwaltney discusses the critical question of whether physicians should opt out of their employer's group long-term disability (LTD) policy. Billy explains the differences between group LTD and private specialty disability coverage, emphasizing the importance of having a well-structured private policy that offers better definitions and benefits. He highlights the potential pitfalls of group policies, including adverse selection and watered-down definitions of disability, and encourages physicians to make informed decisions about their insurance options.Highlights:(02:56) The Importance of Specialty Coverage(04:42...2025-04-0905 minCover Your Assets Podcast with Billy GwaltneyIf My Income Goes Up in the Future, What Happens to My Disability Policy?Ever wondered what happens to your disability policy if your income increases in the future? In this episode of the Cover Your Assets Podcast, host Billy Gwaltney tackles this common question for physicians and other high-income professionals.
Through his expertise as an independent broker, Billy explores the intricacies of adjusting your private specialty occupation disability coverage as your salary grows. With insightful explanations and practical advice, you'll understand how to keep your financial safety net robust as your career progresses.
Episode Highlights:
Explanation of future increase options and benefit increase riders. (02:06)
Insuran...2024-12-1707 minCover Your Assets Podcast with Billy GwaltneyDo I Pay an Extra Fee to Work With You?Do you have to pay an extra fee to work with a broker? Spoiler alert: The answer might surprise you. In this episode of Cover Your Assets, host Billy Gwaltney breaks down how broker commissions are structured within insurance premiums and the value that a dedicated broker can bring to the table. Whether you're in the early stages of your career or an established professional, understanding this aspect of your coverage can provide peace of mind and financial clarity.
Episode Highlights:
How broker commissions are structured. (01:14)
The role of a broker and the cont...2024-12-1704 minCover Your Assets Podcast with Billy GwaltneyIs Working With a Disability Specialist Broker Better Than Working With a Financial Planner?There IS a significant difference between working with a disability insurance specialist and a general financial planner when it comes to your financial security. As a seasoned specialist working with physicians across the country, Cover Your Assets host Billy Gwaltney provides valuable insights into why choosing a broker with in-depth expertise in disability coverage can make all the difference in your financial planning. Through relatable analogies and practical advice, Billy clarifies the distinctions between generalists and specialists in the insurance world. Learn why the devil is in the details when it comes to designing your disability insurance policy and how...2024-12-1711 minCover Your Assets Podcast with Billy GwaltneyWhat Is the Enhanced Residual Benefit and Is It Important for Me?In this episode of Cover Your Assets, host Billy Gwaltney explains the crucial elements of a well-structured disability policy, focusing on the often-misunderstood Enhanced Residual Benefit. Billy explores why this benefit is a non-negotiable part of any physician's robust disability insurance plan. Tune in to grasp the importance of this coverage and learn how it can protect you from financial instability if you can only work part-time due to illness or injury.
Episode Highlights:
Three non-negotiable elements of disability policies. (01:17)
Real-world cases illustrating the necessity of the benefit for part-time work scenarios. (04:32)
Com...2024-12-1705 minCover Your Assets Podcast with Billy GwaltneyWhat Is the Recovery Benefit and Do I Really Need It?Take a deep dive with host Billy Gwaltney into the often-overlooked yet vital aspect of a robust specialty disability policy: the recovery benefit. Designed to continue providing support even after you medically recover, this benefit could mean the difference between financial stability and strain as you get back on your feet.
In this episode of Cover Your Assets, Billy outlines the key reasons why this benefit is indispensable, especially for physicians at their income peak, breaking down complex concepts into easily digestible insights. Tune in to learn why a well-crafted disability policy is like a three-legged stool an...2024-12-1705 minCover Your Assets Podcast with Billy GwaltneyIf My Income Goes Down in the Future, What Happens to My Disability Policy?Host Billy Gwaltney dives into the crucial topic of disability policies and how they are impacted when your income changes in this episode of Cover Your Assets. As a vital piece of security for many professionals, understanding the mechanics of these policies can save you from a potential financial pitfall. Billy breaks down the importance of non-cancelable and guaranteed renewable policies and provides clear guidance on managing your coverage amidst income fluctuations.
Explore the finer details of maintaining optimal protection, even when life throws a curveball.
Episode Highlights:
What non-cancelable and guaranteed renewable means for y...2024-12-1705 minCover Your Assets Podcast with Billy GwaltneyWhat Happens to My Policy if I Change Specialties?Have you ever wondered how a change in medical specialty can affect your private disability policy?
In this illuminating episode of the Cover Your Assets podcast, host Billy Gwaltney dives deep into the nuances of specialty disability policies and how they adapt to your evolving medical career. Whether you’re a resident just starting out or an experienced professional considering a switch, understanding your policy is crucial. Billy provides expert insight into why your initial specialty matters and how the right policy can offer seamless coverage as you progress.
Tune in to learn how to secure...2024-12-1008 minCover Your Assets Podcast with Billy GwaltneyTraditional vs. Principles-Based Approach to Risk Management: Cover Your Assets…From All Angles, Session 4What really keeps your financial future secure: strategy or principles? In the final session of this enlightening educational series, host Billy Gwaltney dives deep into the essential and often overlooked world of risk management and asset protection with guests Kyle Christensen and John Navin.
Together, they explore the intricate balance between traditional and principles-based approaches to safeguarding your financial assets. Both Christensen and Navin reveal the startling reality that many clients, including high-earning professionals, are grossly underinsured, sharing personal anecdotes to underscore the critical importance of early and adequate coverage.
Don't miss this engaging discussion fi...2024-11-261h 02Cover Your Assets Podcast with Billy GwaltneyWhat Does Noncancelable and Guaranteed Renewable Mean?Have you ever wondered what the terms "noncancelable" and "guaranteed renewable" really mean in the world of insurance?
Billy Gwaltney breaks down the importance of these terms and why they should matter to you. With his rich experience as an independent broker for the top four carriers, he ensures that these policies have no gaps or gotcha clauses.
Discover how noncancelable and guaranteed renewable policies protect you, offering you peace of mind and stability. Understand why these features are essential and what exceptions you need to be aware of when choosing your policy.
Epi...2024-11-1203 minCover Your Assets Podcast with Billy GwaltneyWhat Does "Guaranteed Renewable Only" Mean?Expert Billy Gwaltney delves deep into the often-misunderstood term "guaranteed renewable only" and what it means for your private specialty disability coverage. If you're a physician navigating the nuances of insurance policies, this episode is a must-listen. Billy breaks down the differences between non-cancelable and guaranteed renewable policies, highlighting important factors such as rates, state regulations, and the implications for policyholders.
Learn how choosing a "guaranteed renewable only" policy could offer substantial discounts and understand the trade-offs involved. With real-world examples and expert insights, this episode provides crucial information to help you make informed decisions about your i...2024-11-1206 minCover Your Assets Podcast with Billy GwaltneyFinancial Tools and Strategies: Cover Your Assets…From All Angles, Session 3Host Billy Gwaltney delves into the intricate world of financial tools and strategies with guests John Navin and Kyle Christensen on this episode of Cover Your Assets.
Through a series of enlightening discussions, they uncover the critical aspects of financial planning, addressing common mistakes and underexplored opportunities that professionals, especially those in high-risk careers like medicine, must consider. From the fundamentals of car insurance to the nuances of student loan repayment, this episode is packed with actionable insights designed to fortify your financial future and mitigate risks.
Join them as they probe into the strategies that...2024-11-1255 minCover Your Assets Podcast with Billy GwaltneyFinancial Goals and Personal Values: Cover Your Assets…From All Angles, Session 2In this episode of Cover Your Assets, host Billy Gwaltney dives deep into the intricate balance between financial goals and personal values with guests and financial planners Kyle Christensen and John Navin.
Kyle shares why he avoids using the term "retirement," preferring "financial freedom" as a more empowering goal, while John introduces his "freedom number" concept for a joyful life beyond just escaping a job. Together, they explore the unique financial challenges faced by medical professionals transitioning from training roles to high-earning attending positions and offer actionable strategies for building financial independence.
This episode empowers list...2024-10-2957 minCover Your Assets Podcast with Billy GwaltneyUnderstanding Financial Mindsets: Cover Your Assets…From All Angles, Session 1Welcome to the first session of the Cover Your Assets educational series on financial planning, where host Billy Gwaltney delves deep into financial mindsets with experts John Navin and Kyle Christensen.
Discover the diverse approaches to financial planning, encompassing both traditional and non-traditional strategies, directly from seasoned professionals. Whether you're an experienced investor or just starting out, this episode aims to empower you with the knowledge to make informed financial decisions.
Get ready to explore a series that will fundamentally change your perception of financial planning.
Episode Highlights:
Understanding Traditional vs. Non-Traditional Financ...2024-10-1550 minCover Your Assets Podcast with Billy GwaltneyMy Promise to Every ClientWhat does true dedication to client care look like in private specialty, own occupation, disability coverage?
Join Cover Your Assets host Billy Gwaltney as he unveils his unwavering commitment to providing top-tier service for physicians. From securing the best coverage to ensuring a streamlined process, Billy's promise to his clients is unparalleled. Discover the benefits of working with a dedicated specialist who offers personalized, concierge-level care.
Episode Highlights:
Billy’s goal: Being the best in private specialty disability coverage. (01:00)
Overview of the essential coverage components, including the true specialty own occupation definition and enhanced residu...2024-10-0207 minCover Your Assets Podcast with Billy GwaltneyWhat if I Don't Have Time to Research the Options?Have you ever found yourself overwhelmed by all the financial protection options out there and wondered, "What if I don't have time to research the options?"
In this episode of Cover Your Assets, host Billy Gwaltney addresses a common concern among busy professionals, especially physicians in training: how to secure the best disability insurance coverage without dedicating endless hours to research.
Billy shares his insights gained from years of experience working with thousands of physicians across the country. With practical recommendations and a focus on simplifying the process, he ensures you don't have to be an i...2024-09-1706 minCover Your Assets Podcast with Billy GwaltneyYour Employer is Not Neutral When They Promote Their Group LTD PolicyEver wondered if your employer's long-term disability (LTD) policy truly has your best interests at heart?
In this episode of Cover Your Assets, host Billy Gwaltney reveals the hidden truths behind employer-provided group LTD policies. Discover the significant gaps in these policies and why private specialty disability coverage might be a better safety net for you.
Billy shares insights from his extensive experience with physicians, highlighting key differences between employer group LTD policies and private insurance. Learn why it's crucial to be informed about what your coverage truly offers.
Episode Highlights:
The basic...2024-09-0306 minCover Your Assets Podcast with Billy GwaltneyBuyer Beware: The Term 'Own Occupation' Means Different Things Depending on the Type of PolicyDid you know that the term 'own occupation' in your disability policy could mean completely different things based on your coverage type?
In this enlightening episode of the Cover Your Assets podcast, host Billy Gwaltney breaks down the complexities behind various disability insurance policies. He dives into the distinct differences between group employer policies and individual private disability policies and exposes the often murky definitions that can significantly impact your coverage.
This episode is a must-listen if you want to ensure your policy will actually protect you when you need it most.
Episode Highl...2024-08-2009 minCover Your Assets Podcast with Billy GwaltneyThe Streamlined Medical Screening Process for TraineesAre you a resident or fellow physician looking to navigate the medical screening process for disability coverage with ease? In this episode of Cover Your Assets, host Billy Gwaltney reveals the streamlined procedure for securing private specialty or occupation disability coverage and how it's been simplified to require minimal time and effort.
Walk through the electronic and phone-based medical screening process for trainees and attendings (highlights: time-saving benefits and the waived need for insurance physicals), gain valuable insights into the importance of having the right definitions and trainee discounts, and understand how brokers advocate for clients to in...2024-06-1105 minCover Your Assets Podcast with Billy GwaltneyWhat Happens to My Policy if My Agent is Not Involved? (Orphaned Policyholders)Are you prepared for the unexpected in the world of insurance? What happens to your policy if your agent quits or is no longer in the picture?
In this episode of Cover Your Assets, Billy explains the concept of orphaned policyholders in the insurance world and the challenges they face without an assigned agent. He also underscores the importance of having a knowledgeable broker to guide you through policy provisions and assist in claims. Listeners will gain valuable insight into the potential pitfalls of being an orphaned policyholder and how to address the situation proactively.
Epis...2024-05-2807 minCover Your Assets Podcast with Billy GwaltneyCover Your Assets…From All Angles with Financial Advisor John NavinAre you ready to secure your financial future and plan for a fulfilling career? In this fascinating episode of Cover Your Assets, host Billy Gwaltney chats with financial advisor John Navin, dissecting the intricacies of succession planning and long-term financial strategies. John shares his vast experience and unique personal journey, making complex concepts accessible and actionable.
Discover the unique features of John's innovative "Lifestyle Maximizer" plan, a comprehensive approach to financial health that addresses key areas such as estate and tax planning. The conversation also delves into the role of personal values and vision in shaping financial strategies, offerin...2024-05-2120 minCover Your Assets Podcast with Billy GwaltneyCover Your Assets…From All Angles with Financial Advisor Kyle ChristensenHost Billy Gwaltney sits down with innovative financial planner Kyle Christensen in this riveting episode of Cover Your Assets. Discover how Kyle's unique take on financial planning—focused on trust, continuous education, and the velocity of money—can transform your approach to wealth management and help you achieve financial independence.
Kyle goes beyond traditional financial advice, advocating for principles that foster successful decision-making and long-term client relationships. He also highlights the critical role of understanding personal finance and challenges the conventional methods promoted by financial institutions. If you're a physician seeking a practical and enlightened approach to finances...2024-05-2127 minCover Your Assets Podcast with Billy GwaltneyIf I Do GSI, Does the Broker Still Matter?Are you considering a guaranteed standard issue (GSI) disability policy and wondering if the broker still matters? In this episode of Cover Your Assets, host Billy Gwaltney explains the crucial role of a broker even when purchasing a GSI disability policy. He outlines the importance of having a specialist broker to navigate the complexities of disability coverage and the claim process. With real-life examples, Billy emphasizes the valuable role brokers play in ensuring policyholders receive their entitled benefits.
Episode Highlights:
Importance of working with a broker. (00:45)
Role of a broker in GSI policies. (1:55)
Broker involvement in th...2024-05-1407 minCover Your Assets Podcast with Billy GwaltneyVital Importance of Applying for GSI First (Before Applying Elsewhere)Are you considering applying for disability insurance? In this episode of Cover Your Assets, host Billy Gwaltney discusses the vital importance of applying for guaranteed standard issue (GSI) policies first, before applying elsewhere. He highlights the potential consequences of applying for disability insurance with other companies prior to GSI and explains why securing a GSI policy is essential for individuals with certain medical histories or risky hobbies.
Billy emphasizes that GSI policies offer the best coverage without medical screening and advises listeners to work with a specialist to navigate the application process effectively. He stresses the significance o...2024-04-3004 minCover Your Assets Podcast with Billy GwaltneyQuote Spreadsheet Overview with Benefit Increase Rider (BIR)Do you want to safeguard your hard-earned success? In this episode of Cover Your Assets, host Billy Gwaltney breaks down the quote spreadsheet, providing a detailed overview of the Benefit Increase Rider (BIR) and what makes disability coverage so crucial for physicians in training.
Discover the top true specialty disability carriers and the key elements you need in your coverage plan. Learn the importance of private, portable, non-cancelable, and guaranteed renewable coverage with the BIR that allows you to expand your coverage once you become an attending. And gain valuable insights into getting this part of your fin...2024-04-0228 minCover Your Assets Podcast with Billy GwaltneyProcess for Enrolling – Guardian GSI (Don’t Apply Elsewhere First)Are you a resident or fellow at NewYork-Presbyterian or the University of Rochester looking to enroll in the Guardian Guaranteed Standard Issue (GSI) disability policy? In this episode of Cover Your Assets, host Billy Gwaltney outlines the seamless process for enrolling in the program, highlighting its simplicity and efficiency.
Join Billy as he shares the step-by-step procedure, from filling out a pre-application form to signing the application electronically. Discover how the Guardian GSI program eliminates the need for medical screenings or extensive questionnaires, making it incredibly convenient for busy trainees.
Episode Highlights:
Learn about th...2024-04-0203 minCover Your Assets Podcast with Billy GwaltneyProcess for Enrolling – Ameritas GSI (Don’t Apply Elsewhere First)Are you a resident or fellow at Ohio State University or OhioHealth? Are you fully prepared for the enrollment process for Ameritas Guaranteed Standard Issue (GSI) disability coverage? In this episode of Cover Your Assets, host Billy Gwaltney breaks down the straightforward electronic enrollment process, emphasizing the importance of enrolling in the GSI before applying elsewhere.
Learn about the efficient and hassle-free nature of the application, the potential processing timeline, and the crucial rule to consider before making any other applications.
Episode Highlights:
Insight into the simple and quick electronic enrollment process. (00:30)
Understanding the po...2024-04-0203 minCover Your Assets Podcast with Billy GwaltneyThe Ameritas GSI Details for OhioHealth (Guaranteed Standard Issue)In this episode of Cover Your Assets, host Billy Gwaltney delves into the details of the Ameritas Guaranteed Standard Issue (GSI) policy for residents and fellows at OhioHealth. Discover how this top-tier true specialty own-occupation disability policy provides unparalleled coverage with no required medical screening.
Billy outlines the three non-negotiable elements of a properly designed disability policy and explains how the Ameritus GSI offer ticks all the boxes. He emphasizes the importance of taking advantage of this unique opportunity while it’s available and highlights the significant benefits of securing this coverage early in your career.
Epis...2024-04-0213 minCover Your Assets Podcast with Billy GwaltneyThe Ameritas GSI details for Ohio State University (Guaranteed Standard Issue)Are you a resident or fellow at Ohio State University? You won’t want to miss this episode of Cover Your Assets as we dive into the details of the Ameritas Guaranteed Standard Issue (GSI) policy, offering exclusive coverage with no medical screening, which is now available to you.
Host Billy Gwaltney provides an in-depth look at the unique benefits of the Ameritas GSI policy for residents and fellows at Ohio State University. He outlines the three critical elements of a properly designed true specialty policy, explains the guaranteed standard issue concept, and emphasizes the importance of applyi...2024-03-1912 minCover Your Assets Podcast with Billy GwaltneyGuardian’s GSI Details for the University of Rochester (Guaranteed Standard Issue)Are you a resident or fellow at the University of Rochester? Have you found the key to ensuring your financial security as a physician? In this episode of Cover Your Assets, host Billy Gwaltney dives deep into Guardian’s guaranteed standard issue policy being offered to you.
Listen in as he outlines the vital elements of a properly designed specialty disability policy, including the true specialty own occupation definition of disability and enhanced partial disability benefits.
Episode Highlights:
Three vital elements of a properly designed specialty disability policy. (1:02)
Comparison of elimination periods and cost of liv...2024-03-0513 min
Escape To The Full Audiobook Everyone Is Talking About — So Soul-Stirring!Disability Insurance for Physicians by Billy GwaltneyPlease visithttps://thebookvoice.com/podcasts/2/audible/41830to listen full audiobooks.
Title: Disability Insurance for Physicians
Author: Billy Gwaltney
Narrator: Billy Gwaltney
Format: mp3
Length: 3 hrs and 19 mins
Release date: 02-23-24
Ratings: Not rated yet
Genres: Insurance
Publisher's Summary:
A young physician’s most important asset isn’t an investment or real estate portfolio—it’s the ability to earn a good income performing your specialty. Potentially eight figures, this asset needs insurance. But insurance that truly protects your income and safeguards your quality of life isn’t easy to find.2024-02-233h 19Cover Your Assets Podcast with Billy GwaltneyGuardian’s GSI Details for NewYork-Presbyterian (Guaranteed Standard Issue)Are you a resident or fellow with New York-Presbyterian at Columbia, Weill Cornell, or Queens? Are you looking for disability insurance without the hassle of medical screening? In this episode of Cover Your Assets, host Billy Gwaltney provides an exclusive overview of Guardian’s Guaranteed Standard Issue (GSI) disability policy being offered to you. Learn about the unique benefits and opportunities available to residents and fellows at these facilities and discover why this coverage is considered the best on the planet.
Billy also breaks down the three non-negotiable elements of a properly designed private specialty disability policy, prov...2024-02-2013 minCover Your Assets Podcast with Billy GwaltneyBack by Popular Demand: Two Types of Disability PoliciesThis episode was first broadcast in November 2022. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
When physicians contact me about disability policies, they always ask what types of disability policies are available.
There are two different types. But even though they’re both considered disability policies, one works in your favor while the other could force you to pay back your benefits.
In this episode, you’ll discover the two types of disability policies and which one you s...2024-02-0610 minCover Your Assets Podcast with Billy GwaltneyBack by Popular Demand: Discounts - How Do They Work, Who Can Get Them?This episode was first broadcast in January 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
How much are you paying right now for your insurance premiums?
There’s a 95% chance it’s too much. Because 95% of physicians don't know that they can reduce how much they pay in premiums on their coverage.
How? By getting a discount through the right associations. Doing so can save you up to 50% on your coverage.
In this episode, you’ll disc...2024-01-2306 minCover Your Assets Podcast with Billy GwaltneyBack by Popular Demand: Why Buy EarlyThis episode was first broadcast in February 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
As a trainee, it can be tough to budget for disability coverage. But here's the thing: waiting to get coverage is like playing a risky game with your finances.
Think about it—the longer you wait, the higher the interest rates on your coverage will be. It's like a ticking time bomb for your wallet.
This is why it's important that you lea...2024-01-0911 minCover Your Assets Podcast with Billy GwaltneyBack by Popular Demand: Do I Need a Broker?This episode was first broadcast in April 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
Some people think it’s better to skip a broker and go straight to an insurance company to avoid paying an extra fee, which is an excellent idea if you want to save money by doing the work yourself.
But unfortunately, it is more complicated than you think. Going straight to the insurance companies is often more expensive because you won’t get the best...2023-12-2610 minCover Your Assets Podcast with Billy GwaltneyBack by Popular Demand: What Are the Top 4 Insurance Companies?This episode was first broadcast in June 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
Picking the right disability coverage provider is a big deal. Why?
Because they'll be your safety net when times get tough, and you'll be paying them for a long time. Make sure it's a wise investment.
In this episode, we reveal the top companies we recommend and what to watch out for. Plus, we'll share two more alternatives if you can't access t...2023-12-1205 minCover Your Assets Podcast with Billy GwaltneyBack by Popular Demand: Buyer Beware of a Lower RateThis episode was first broadcast in August 2023. You can find a full episode archive by subscribing to Cover Your Assets on the platform of your choice (Apple, Spotify, Amazon, or Google).
Why do shady brokers take advantage of so many innocent physicians?
The biggest reason is that most people want cheaper rates, even though the top four companies offer safe, worthwhile coverage.
Physicians think they're doing the right thing but set themselves up for misfortune instead. They can lose thousands of dollars every year and face hours of stress and endless troubles when a...2023-11-2810 minCover Your Assets Podcast with Billy GwaltneyShould I Choose the Benefit Increase Rider (BIR) or Future Increase Option (FIO)?Are you a physician wondering whether you should choose the Benefit Increase Rider (BIR) or Future Increase Option (FIO) for your policy? In this episode of the Cover Your Assets podcast, Billy Gwaltney dives into the pros and cons of each option. He breaks down the guidelines and requirements for both riders and explains how they can affect your coverage and cost. Whether you prioritize flexibility or cost-efficiency, this episode will help you decide on your insurance needs.
Episode Highlights:
Billy explains how BIR and FIO riders allow you to increase coverage in the future without re...2023-11-1411 minCover Your Assets Podcast with Billy GwaltneyHow to Choose the Right Disability Policy for YouAs a physician, how do you choose the right disability policy for your specific needs, to protect your income and way of life? From understanding the importance of private coverage to exploring the three non-negotiable components of a quality policy, host Billy Gwaltney provides valuable insights to help you make an informed decision. Discover why relying solely on employer policies or group coverage may not provide the necessary protection, find out which companies are offering the best coverage, and learn the three non-negotiable components of a quality disability policy.
Listen to this episode for crucial tips and to...2023-10-3120 minCover Your Assets Podcast with Billy GwaltneyWhat Does it Mean to be a Truly Independent Broker?Is being an independent broker in the insurance world the same for everyone? Host Billy Gwaltney answers that question in this episode, exploring the differences in being an independent broker in the insurance industry. He breaks down the two broad categories of independence and discusses the advantages of working with a truly independent broker who prioritizes the client's needs over company affiliations.
If you're curious about the true meaning of independence in the insurance broker world and want to ensure you're getting the best coverage for your needs, this episode is a must-listen.
Episode Highlights:
...2023-10-1710 minCover Your Assets Podcast with Billy GwaltneyHow Long Does a Disability Claim Usually Last?Did you know that the average disability claim lasts for nearly 7 years? In this episode, Billy Gwaltney delves into the duration of disability claims and why it's important to have the right insurance coverage. He breaks down statistics from the Council for Disability Awareness and highlights the most commonly claimed types of disabilities. Learn more about the significance of the true specialty own occupation definition of disability and the need for a long-term recovery benefit.
Tune in to this episode to learn more about the duration of disability claims and how to protect your financial security.
E...2023-10-0310 minCover Your Assets Podcast with Billy GwaltneyThree Pillars of Top Disability PolicyIn this episode, host Billy Gwaltney takes a deep dive into the three key elements that make up a top private specialty disability policy and why they're essential for physicians looking to safeguard their financial security and maintain peace of mind. Billy breaks down each element in detail, offering insights and advice to help listeners make informed decisions about their coverage options.
Listen to learn more about the three pillars and gain valuable insights into securing comprehensive coverage.
Episode Highlights:
The first pillar: True Specialty Own Occupation Definition of Disability. Learn why...2023-09-1907 minCover Your Assets Podcast with Billy GwaltneyWhy Do I Need to Sign HIPAA and HIV FormsHave you ever wondered why physicians are required to sign HIPAA authorization and HIV consent forms?
In this episode, host Billy Gwaltney answers this question and sheds light on the importance of these forms during medical screenings for disability coverage. Billy explains how the HIPAA authorization allows underwriters to verify medical information and request medical records if necessary, while the HIV consent form is a precautionary measure in case labs are required.
Listen to learn more about these crucial forms and why they are necessary for obtaining insurance coverage.
Episode Highlights:
The pu...2023-09-0504 min
Cover Your Assets Podcast with Billy GwaltneyBilly's initial conversation with a Female TraineeGood disability coverage could be the difference between financial security for life, and being broke and bound to a wheelchair. There are between 70 and 75 disability insurance companies to choose from in the USA. Most of them weasel their way out of paying you, with a team of lawyers (and ill-defined policies). And if you’re a woman, it gets worse: most companies charge you higher premiums just because of your gender. And some of them offer “gender neutral rates”, which is often a way of tricking you into a bad policy. In short, disabili...2022-08-1022 min
Cover Your Assets Podcast with Billy GwaltneyExplaining the Guardian future insurability optionYou already know that disability insurance is something you need to have as a medical professional. But as your income increases over time, you may wonder which option is the best for you. To help you cut through the clutter, Billy takes a closer look at the top insurance plans for physicians in the market. This week, he explains one of the most popular ones: Guardian. Listen now to discover the pros and cons of the most popular insurance plan for physicians across the country. Plus, find out which coverage plan option is the best...2022-07-1310 min
Cover Your Assets Podcast with Billy GwaltneyExplaining the Mass Mutual future insurability optionAs a physician, long-term disability insurance is a must. And as your salary increases, you’ll need to increase your coverage as well to match your income. But navigating insurance policies can be a nightmare. With so many different options, it takes forever to cut through the clutter and pick the best fit for you. To help you decide, Billy explores the best policies on the market. Tune in as we take a closer look at the coverage increase rider that comes with the MassMutual specialty disability policy. Show Highlights Include The #1 reaso...2022-06-2911 min
Cover Your Assets Podcast with Billy GwaltneyTop 5: Ten minute crash course on specialty disability insuranceIf you’ve ever looked into disability insurance coverage, you know that it can be confusing. There are so many terms and definitions that it can make your head spin. But if you focus on the essentials, it becomes easier to understand. In this episode, Billy goes over the 4 key elements of a disability insurance policy that you must understand, and explains why they matter to you and your family. Highlights from this episode include: The 4 key elements of disability insurance and why getting them wrong can end your life as you know it (1:01) The...2022-06-1509 min
Cover Your Assets Podcast with Billy GwaltneyTop 5: Why should I get disability coverage in residency or fellowship?You probably already know that disability insurance is something you need to have, but you might have wondered if you need it while you’re young and not making much money. In this episode, Billy discusses the benefits to getting your disability coverage as soon as possible, and why waiting could leave you without insurance when you need it most. Highlights from this episode include: The #1 reason you must consider getting your coverage as early in your career as possible (1:01) Your financial exposure is higher than you think as a resident and how to pro...2022-06-0109 min
Cover Your Assets Podcast with Billy GwaltneyTop 5: What is the process for obtaining specialty disability coverage?Getting your own specialty disability coverage is one of the best decisions you can make for your financial future. But should you try to do it by yourself? If you’ve ever looked into disability insurance, you probably know that policies are filled with confusing language and definitions. And to top it all off, companies use their own special names that don’t always make sense. And then there’s the medical and financial underwriting process that can be tough to do on your own. In this episode, Billy goes over the most important things to be...2022-05-1809 min
Cover Your Assets Podcast with Billy GwaltneyTop 5: What is the 'specialty own occupation' definition of disabilityWhen it comes to you and your disability insurance, words matter. Specifically the policy language that defines your occupation. How this part of the policy is worded can make the difference between the insurance company paying you during a disability, or leaving you high and dry on a technicality. In this episode, Billy discusses how this definition should be worded and common pitfalls that doctors like you need to be aware of when it comes to disability insurance. Highlights from this episode include: Why the wrong occupational definition could bankrupt you and your family (1:46...2022-05-0409 min
Cover Your Assets Podcast with Billy GwaltneyTop 5: How much life insurance do I need?You know that disability insurance protects you if you are injured and unable to work, allowing you to still provide for your family. But what about the true worst-case scenario… Dying and leaving your family without any financial resources at all. This is where life insurance plays a significant role in your financial plan. In this episode, Billy discusses how to calculate the proper amount of life insurance, and important factors to consider when purchasing your policy. Highlights from this episode include: This life insurance calculation helps make sure you have enough coverage to kee...2022-03-0907 min
Cover Your Assets Podcast with Billy GwaltneyClarifying Psychiatric vs Mental NervousWhen considering your insurance options, you may have come across the Mental Nervous benefit. This confusing benefit has a very specific purpose: to cover your psychiatric care. But what is psychiatric care, exactly? What disabilities does this benefit cover? And how long does it pay? There is a lot of confusion around the Mental Nervous benefit. And in today's episode, you’ll get a clear understanding of when this psychiatric benefit applies to you. Listen now to discover the ins-and-outs of the Mental Nervous benefit. Show Highlights Include: Th...2021-09-2205 min
Cover Your Assets Podcast with Billy GwaltneyExplaining the Future Insurability OptionYour disability insurance policy may include a Future Insurability Option. With an FIO, you can increase your coverage without an updated medical review. This allows you to increase coverage throughout your career. But what if you don't take this option, or you let it lapse? When you find yourself in need of more insurance, it can be costly — or outright denied. Don't leave your future disability insurance up to chance. Listen now to discover how to keep your future insurance options flexible. Why getting an inexpensive FIO early in your ca...2021-09-0808 min
Cover Your Assets Podcast with Billy GwaltneyExplaining Principal's Benefit Update riderTo get disability insurance, your provider needs to review your medical history. That history is your medical underwriting. It determines your insurance rates. And once that insurance cost is set, it only covers your income at the time of that review. What happens when you make more money? With a Benefit Update Rider, you have the option to increase your coverage to match your income. These Benefit Update Riders have limits that you must know if you want to maximize your coverage. Don't get stuck with an outdated policy. Discover how a Benefit...2021-08-2510 min
Cover Your Assets Podcast with Billy GwaltneyShould I combine my Life insurance with same company as disability insuranceCombining your disability coverage with life insurance sounds like a smart financial move. You want to cover career gaps after an injury and get the coverage that always protects your loved ones. But having a sustainable financial future starts with knowing what discounts work for you. Combining policies is a case-by-case situation (and you don’t want to stack your policies on bad advice). In this episode, you’ll discover the best way to combine your policies for protection that lasts a lifetime (and if it’s right for you). Highlights from this episod...2021-08-1106 min
Cover Your Assets Podcast with Billy GwaltneyShould I buy life insurance when buying specialty disability coverageWhen it comes to policy shopping, you might combine disability coverage with life insurance. But you want to make sure you get the most protection (without paying the most in fees). There are a few things to consider in the underwriting process of combining plans. Getting the best rates is about knowing how discounts work for you. In this episode, you’ll discover how to find the best rates for combining plans (and if it’s the right move for you). Highlights from this episode include: The most efficient underwriting process for getti...2021-07-2806 min
Cover Your Assets Podcast with Billy GwaltneyIf I'm not a surgeon do I still need specialty occupation coverageIt might feel like a waste of money getting coverage if you don’t perform extensive surgeries or exhaust your body every day. But a policy is about much more than preventing injuries…. The perfect policy will take care of your income when you’re sick or injured. Those things happen all the time and you need time to recover (without stressing about your next check). Cover will make sure your income recovers (even after you do). In this episode, you’ll learn why everyone outside the operating room needs specialty coverage - and how to prote...2021-07-1407 min
Cover Your Assets Podcast with Billy GwaltneyWhat if I think I'm medically uninsurableYou might think you’re medically ‘uninsurable’ based on something that’s happened in the past…but conversations about coverage don’t end with a ‘yes’ or ‘no’ answer. And by asking the right questions and knowing what options are available, you can explore the alternatives and find a powerful plan that protects your career (even if it’s not the one you wanted). Remember: Everything is temporary. In this episode, you’ll discover how to find the best coverage if you think you’re uninsurable and why asking the right questions offers your career more benefits and...2021-06-3005 min
Cover Your Assets Podcast with Billy GwaltneyWhat if I'm less than perfect medically & have exclusions on my policyIf you can’t land the best contract available or get the disability benefits you want, it might feel like it’s not worth paying for. But as strange as it may seem, policies with exclusions are better than no policy at all. You might have a less-than-perfect offer right now, but find ways to improve your policy in the future. As the famous saying goes: Don’t miss the forest through the trees. In this episode, you’ll discover what to do when your options in disability coverage are limited - and why getting a plan in...2021-06-1613 min
Cover Your Assets Podcast with Billy GwaltneyWhy are disability rates for females higher & how should I handle this if I'm a femaleWhen looking into insurance rates, you might notice that the cost of a disability plan for females is significantly higher. But you don’t want to settle on a plan that doesn’t protect and preserve your career (just to save yourself from paying premium rates). So what’s the reason for the extra expense? And should you pick a plan based on price? In this episode, you’ll discover how to find the maximum discounts as a female physician in the market and why your premium prices end up paying for themselves down the road. 2021-06-0207 min
Cover Your Assets Podcast with Billy GwaltneyPrincipal - Why are they a top tier contractNobody wants to plan for the worst, but when it comes to an unexpected disability on the job, you don’t want to be digging in your savings account just to cover the rent. With the right coverage, finances are immune to expenses and you can focus on your recovery (without worrying about missing work). In this episode, you’ll learn how Principal disability insurance preserves your career today while protecting your wallet from the unexpected tomorrow. How Principal disability insurance immediately saves you from massive penalty fees and lost income during a disability leave. (0:58) Why you s...2021-05-1911 min
Cover Your Assets Podcast with Billy GwaltneyGuardian - Why are they a top tier contractIt’s hard to find the perfect policy for your unique situation. And with disability insurance, mistakes are costly - you can’t afford to find out about your contract’s details when you’re already disabled and can’t perform your job. That’s why it’s important to make the right choice from the beginning. And that starts with choosing a provider you can trust. In this episode, I introduce you to Guardian, an insurance provider I believe to be trustworthy for multiple reasons. Whether you’ve heard or Guardian or not, you’ll find out all abou...2021-05-0507 min
Cover Your Assets Podcast with Billy GwaltneyAmeritas - Why are they a top tier contractIn various stages of your career, disability insurance could cost more or less. Preserving and protecting income starts with locking in the best rates price possible for you and your family. Save yourself the guesswork and know exactly how what top plans in the industry do to slash expenses and support the life you deserve during an emergency. In this episode, you’ll discover learn about one of the best individual disability insurance companies, Ameritas, and how if their plans support your lifestyle for the long haul. or leave you waiting for your next paycheck. High...2021-04-2111 min
Cover Your Assets Podcast with Billy GwaltneyInterview with Dennis Peyton, Disability claims expert Part 2Disability coverage plans can feel like a mystery if you don’t know how to read between the fine lines of your contract. And you shouldn’t be haveving to figure it all out during recovery while trying to recover and get back to work. Understanding your plan before an accident is essential for an effortless claims process (so you won’t be sitting around wondering when or if you’ll get a paycheck). In this episode, Billy joins Ameritas expert Dennis Peyton to discuss how to get the most out of your disability coverage and what...2021-04-0726 min
Cover Your Assets Podcast with Billy GwaltneyInterview with Dennis Peyton, Disability claims expert Part 1When looking at disability coverage plans, finding one that protects the career you love most and the money you’ve worked so hard for is crucial. And it’s easy to get lost in the lingo of the insurance world between policy definitions and what fits your particular situation. ManyIn many cases, physicians even end up going back to clinical and doing things they don’t like because of ‘hidden definitions’ in their contracts. What’s the point of moving back to administrative duties when you’ve worked so hard to get where you are in your career? 2021-03-2433 min
Cover Your Assets Podcast with Billy GwaltneyMass Mutual - Why are they a top tier contractThe only thing more difficult than deciding to get a disability insurance policy is deciding which one to buy. Which benefits will you actually need? How much will that cost you? It’s a lot for one person to think about… But life insurance should alleviate stress, not cause it. With a little insight into one of the top disability contracts out there, you can find a plan that works with your career and budget. So if something happens on the job, you’re covered. In this episode, Billy discusses what Mass Mutual disability coverage offers a...2021-03-1009 min
Cover Your Assets Podcast with Billy GwaltneyWhat are the factors that determine my rateThere’s a lot of confusion and speculation behind pricing special disability coverage. You might feel so overwhelmed by the wave of information that you put it off until you really need it. By then, your rates have skyrocketed beyond repair. Preserving and protecting a career path starts with coverage that works with your wallet, not against it. In this episode, I share the invisible expenses behind special disability rates and how you can design a plan for peace of mind. Highlights from this episode include: The ‘ticking time-bomb’ that is making your dis...2021-02-2409 min
Cover Your Assets Podcast with Billy GwaltneyIs my specialty policy portableSome physicians rely on group insurance policies from employers. This saves money in the short term, but what happens when you move on to an employer that doesn’t offer coverage? Or open your own practice? Many times the cost of disability coverage has skyrocketed, making it a financial burden. But if you purchase private coverage early on, it will be cheaper but also portable. That policy will cover you no matter where your career takes you, allowing you to focus on your work, knowing your income is protected if you become disabled. In...2021-02-1004 min
Cover Your Assets Podcast with Billy GwaltneyWhat are the most common types of disabilitiesHealthy, young, non-smoking physicians typically think they can get away without having disability insurance. It makes sense — insurance can seem foolish when you’re healthy. But what happens if you get sick? Healthy, young, physicians have a 25% chance of becoming disabled for 3 months or longer — and a 40% chance that a disability lasts 5 years or longer. Even a 3-month break in income while your expenses add up can be financially devastating. But a 5-year gap can create financial doom. In this episode, I’m sharing the most common types of disabilities and the only way to protec...2021-01-2706 min
Cover Your Assets Podcast with Billy GwaltneyWhat are my chances of becoming disabledThe decision to purchase disability insurance is not always easy. After all, there are plenty of other things you could do with that money. And if your budget is tight, the decision gets even harder. Most clients want to know if they are at risk of becoming disabled. The answer: surprisingly high. And there’s no way to know when it will happen or how long it will last. If you want to avoid financial ruin, you have to be prepared. Being prepared will give you peace of mind, knowing that you’re ready for whatever comes your...2021-01-1306 min
Cover Your Assets Podcast with Billy GwaltneyWhat is the difference between level premium & graded premiumWhen money is tight, it can be tempting to pick up a disability policy with a cheaper premium. But that’s not always the best financial move for you. Often the policy that is cheaper today will cost you far more money tomorrow. It’s critical for you to understand the difference between various premium structures. Then you don’t get stuck with a policy that costs more than it’s worth. In this episode, I discuss the difference between level, step-level, and graded premium disability policies, and why that could save your financial life. Hig...2020-12-3006 min
Cover Your Assets Podcast with Billy GwaltneyDoes the cost of my disability policy increase over timeMany physicians hesitate to get disability coverage because they fear rising costs over time. There are plenty of horror stories of companies raising rates and terms unexpectedly, leaving doctors without the coverage they desperately need. This is common with lower-tier companies. That’s why we don’t sell or recommend their policies. In this episode, I discuss everything you need to know to get a disability policy that provides the right coverage AND won’t increase in price in the future. Highlights from this episode include: Make sure your policy definition contains these...2020-12-1607 min
Cover Your Assets Podcast with Billy GwaltneyIs it ever wise to purchase whole life insuranceMost physicians know about term insurance. It’s cheap, and if you die, your family gets paid quite a bit of money. Whole life insurance is another matter entirely. It is more expensive, more complicated, and typically pays a smaller death benefit. So why would you ever purchase it? In this episode, Billy busts some financially irresponsible myths about whole life insurance, discusses why you should consider it, and how to structure a policy to get the maximum value for your dollar. Highlights from this episode include: If you don’t purchase whole life from...2020-12-0212 min
Cover Your Assets Podcast with Billy GwaltneyWhy I love working with physiciansThis is a more personal episode than we’ve done lately, but with all that’s going on in the world right now, it seemed like the perfect time to explain why we at PPG love working with you. Having worked with thousands of physicians around the country, we have come to realize that there are a number of traits that really make doctors a special group of people, and in this episode Billy will discuss why you make the world a better place and the insurance business more enjoyable. Highlights from this episode include: The trut...2020-11-1808 min
Cover Your Assets Podcast with Billy GwaltneyHow important is the psychiatric benefit?Being a physician can be extremely difficult. Long hours, tough working conditions, and having to witness life-altering medical conditions and even death on a regular basis. It can take a serious toll on your mental and emotional state. Every once in a while this can cause even the strongest doctors to have a breakdown… or worse. So what if you can’t work and earn your salary due to a condition that isn’t a physical disability? In this episode, Billy discusses how to get disability coverage in such a case, the options that are availab...2020-11-0409 min
Cover Your Assets Podcast with Billy GwaltneyWhat is the Future insurability option and do I need it?You realize that it is essential to purchase disability insurance coverage as soon as possible, even before you’ve finished your training. But what happens when your income starts to increase, and the policy you have would no longer cover your expenses in the event that you couldn’t work. In today’s episode, Billy discusses the best way to make sure your policy will grow along with your career, how to maintain the proper coverage definitions, and how to increase your benefits, even if your health has declined. Highlights from this episode include: Why the...2020-10-2110 min
Cover Your Assets Podcast with Billy GwaltneyWhat are the elimination period and COLA rider?There are a lot of moving parts to a disability policy, and this tends to lead to a lot of questions about what is covered and when. How long after a disability do benefits begin? What happens if you are disabled for a long time and prices of good steadily climb? These are some of the factors that can have a tremendous impact on your financial future. In this episode, Billy discusses how to choose the proper elimination period, how to protect your policy from inflation, and why it sometimes makes the most financial sense to select...2020-10-0708 min
Cover Your Assets Podcast with Billy GwaltneyDo I need to purchase term life insurance while in training?Much like disability insurance, many physicians don’t give much thought to life insurance early in their training. After all, your income isn’t as high, and you don’t have time to think about one more thing. But what would happen to your family if you suddenly died? They would still need income to get back on their feet. In this episode, Billy discusses the reasons that early in your career is the time you most need to purchase life insurance, how to get the lowest possible rate and features that your policy must have. High...2020-09-2311 min
Cover Your Assets Podcast with Billy GwaltneyHow much life insurance do I need?You know that disability insurance protects you if you are injured and unable to work, allowing you to still provide for your family. But what about the true worst-case scenario… Dying and leaving your family without any financial resources at all. This is where life insurance plays a significant role in your financial plan. In this episode, Billy discusses how to calculate the proper amount of life insurance, and important factors to consider when purchasing your policy. Highlights from this episode include: This life insurance calculation helps make sure you have enough coverage to kee...2020-09-0907 min
Cover Your Assets Podcast with Billy GwaltneyExplaining the PPG Concierge ExperienceChoosing the right disability insurance specialist is one of the most important financial decisions you can make. But if you choose poorly, you may not realize it until it is too late. You also want to make sure that you have a team of true professionals on your side to help you navigate the claims process if you ever have to use your coverage. In this episode, Billy discusses the PPG Concierge Experience, and why it sets PPG head and shoulders above the competition in every area, from purchase through claim. Highlights from this episode i...2020-08-2608 min
Cover Your Assets Podcast with Billy GwaltneyWhat is a recovery benefit and do I need it?Disability insurance can save you from financial ruin if you’re not able to work, but what happens when you are no longer considered disabled, but are still in recovery. Maybe you can do part of your job, but not all of it, and your pay is reduced as a result. If you worked with an experienced disability insurance broker, you may be covered! In this episode, Billy discusses another under-the-radar option coverage that your disability policy should have, and how to get the benefits when you most need them. Highlights from this ep...2020-08-2506 min
Cover Your Assets Podcast with Billy GwaltneyWhat is a residual benefit and do i need it?You know that you need a disability insurance policy, but what happens if you become partially disabled. Depending on your policy, you might not get paid a benefit at all if you can do a certain percentage of your required work. This leaves you unable to fully do your job (and get paid) and unable to claim disability benefits. This is where the residual benefit rider becomes critically important. But you have to have an agent that understands exactly how this works. In this episode, Billy discusses this additional benefit, how to ensure your policy...2020-08-2407 min
Cover Your Assets Podcast with Billy GwaltneyWhat is the process for obtaining specialty disability coverage?Getting your own specialty disability coverage is one of the best decisions you can make for your financial future. But should you try to do it by yourself? If you’ve ever looked into disability insurance, you probably know that policies are filled with confusing language and definitions. And to top it all off, companies use thier own special names that don’t always make sense. And then there’s the medical and financial underwriting process that can be tough to do on your own. In this episode, Billy goes over the most important things to be...2020-08-2309 min
Cover Your Assets Podcast with Billy GwaltneyIs working with an insurance specialist better than a general financial advisor?If you’ve ever worked with a financial advisor on your investments and retirement, they may have brought up the subject of disability insurance with you. But should you purchase your insurance coverage from the same person who handles your investments? In many cases, those individuals are more focused on the financial side of their practice, and are less likely to be well-versed in the nuances of insurance, particularly disability insurance. In this episode, Billy discusses the reasons that disability insurance specialists can get you policies that pay a greater benefit and cost you less in...2020-08-2210 min
Cover Your Assets Podcast with Billy GwaltneyDo I pay you an extra fee for your expertise?Insurance agents have gotten a bad name recently. At worst, you probably feel like they can’t be trusted, and at best you wonder if you couldn’t get your policy cheaper if you didn’t work with an insurance agent. In fact, a lot of our clients ask if it costs extra to work with us on their disability coverage. The answer to that is a resounding NO, by the way! In this episode, Billy discusses the benefits of working with a skilled and experienced disability insurance agent, and why it could cost you lots m...2020-08-2106 min
Cover Your Assets Podcast with Billy GwaltneyCan I count on my group and/or employer LTD policy?We are completely convinced that every physician should have an individual disability insurance policy. But what if you waited too long, or your medical history prevents you from qualifying for one? In that case, group coverage may be a good option. In this episode, Billy discusses when you should opt in to your employers disability insurance, what to look out for when it comes to group coverage, and pitfalls that could leave you without insurance, even if you’re part of the policy. Highlights from this episode include: The only people who should rely on...2020-08-2009 min
Cover Your Assets Podcast with Billy GwaltneyWhy should I get disability coverage in residency or fellowship?You probably already know that disability insurance is something you need to have, but you might have wondered if you need it while you’re young and not making much money. In this episode, Billy discusses the benefits to getting your disability coverage as soon as possible, and why waiting could leave you without insurance when you need it most. Highlights from this episode include: The #1 reason you must consider getting your coverage as early in your career as possible (1:01) Your financial exposure is higher than you think as a resident and how to pro...2020-08-1909 min
Cover Your Assets Podcast with Billy GwaltneyWhy is medical underwriting required for insurance?As a physician, there are seemingly endless demands on your time. From training to continuing education to your family… not to mention seeing patients, you feel like you’ll never get it all done. And you know you need disability insurance, but is it worth it to take the time for medical underwriting and add yet another thing to your list? In this episode, Billy discusses the benefits of medical underwriting compared to a group policy, and how to slash the amount of time medical underwriting takes, so you get the coverage you need. Highlights from...2020-08-1808 min
Cover Your Assets Podcast with Billy GwaltneyWhat is the 'specialty own occupation' definition of disabilityWhen it comes to you and your disability insurance, words matter. Specifically the policy language that defines your occupation. How this part of the policy is worded can make the difference between the insurance company paying you during a disability, or leaving you high and dry on a technicality. In this episode, Billy discusses how this definition should be worded and common pitfalls that doctors like you need to be aware of when it comes to disability insurance. Highlights from this episode include: Why the wrong occupational definition could bankrupt you and your family (1:46...2020-08-1609 min
Cover Your Assets Podcast with Billy GwaltneyTen minute crash course on specialty disability insuranceIf you’ve ever looked into disability insurance coverage, you know that it can be confusing. There are so many terms and definitions that it can make your head spin. But if you focus on the essentials, it becomes easier to understand. In this episode, Billy goes over the 4 key elements of a disability insurance policy that you must understand, and explains why they matter to you and your family. Highlights from this episode include: The 4 key elements of disability insurance and why getting them wrong can end your life as you know it (1:01) The...2020-08-1609 min
Cover Your Assets Podcast with Billy GwaltneyWhy Specialty Disability Insurance Matters to YouYou’ve invested years of your life and thousands of dollars in your medical education and training so far. And you may believe that working in the healthcare industry makes you invincible. But what would you do if you woke up one morning and could no longer practice medicine? Do you have a backup plan? In this episode, Billy discusses why disability insurance is an essential part of your professional life, and why you should consider protecting your income no matter where you are in your career. Highlights from this episode include: Why one do...2020-08-1609 min
Cover Your Assets Podcast with Billy GwaltneyCover Your Assets IntroDon’t let accidents, illness, or injury destroy your hard work. You’ve spent years of your life and hundreds of thousands of dollars to become a physician. This is the career that will give you and your family everything you’ve dreamed of. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the C.Y.A. Podcast, Billy Gwaltney shows you exactly what you need to do to protect your income and your way of life.2020-02-1700 min