Money Checkup Podcast

Episode 11: What You Should Know About Disability Insurance with Stephanie Pearson

One of the items that is often overlooked and the least understood in the insurance world is disability insurance. How much coverage should you have? What does the term “any occupation” mean and should that be in your policy? In today’s Money Checkup, I’ve invited Stephanie Pearson, MD to join me on the show to discuss these questions and many others specifically as it relates to physicians and the disability insurance they should have in place. Stephanie has been through her own traumatic injury so knows first hand the specifics to look out for when it comes to disability insurance.

Stephanie Pearson, MD, FACOG, is a Board Certified OB/GYN and an advocate and advisor for physicians’ disability insurance. A resident of Wynnewood, PA, Stephanie grew up in Southern New Jersey, received her B.S. from Emory University and her MD from MCP/Hahnemann (now Drexel University College of Medicine). Before becoming injured, she practiced obstetrics and gynecology at a community hospital in suburban Philadelphia. She now consults with resident and attending physicians about the importance and nuances of disability and life insurance. She’s married with two sons.

What We Will Cover

  • The reason behind Stephanie’s transition from OB/GYN to disability insurance broker
  • Mistakes around disability insurance that she learned along the way
  • The reason disability insurance is so important
  • Important features a disability policy should have, especially for physicians
  • The difference between any occupation and a physician specialty in disability insurance
  • A few benefits Stephanie thinks are crucial to have
  • How Cost of Living Allowance (COLA) can play a part in your disability policy
  • The biggest difference seen in different carriers as it relates to disabilities
  • Knowing if you have the right partial disability rider in place
  • How much income can someone insure and how much should someone insure
  • The view insurance companies have on pregnancy and delivery
  • The number one thing women should take away from this episode
  • The right time for someone to obtain disability insurance
  • The differences between a private policy and a group policy
  • The definition of own occupation against national economy
  • Tax nuances for disability insurance
  • Special considerations for Californians obtaining disability insurance
  • How transitional language could be a benefit to you

A Financial Goal in the Works

  • She would like to have her student loans paid off by the end of 2019

One Piece of Financial Advice

  • Lean on experts when you need to make financial decisions
  • Always have an emergency fund in your back pocket 

Getting Connected With Stephanie

Click here if you want to read the transcript instead!

What You Should Know About Disability Insurance with Stephanie Pearson

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