By now, you know that the reason you as a specialist in Gastroenterology that you need disability insurance is to protect your income because of an injury or sickness that prevents you from earning one as a physician. The potential loss is upwards of $10 million. Needless to say that is lot of money, which is why insurance carriers or companies have special protections for themselves to limit the risk. They do this with exclusions and limitations. This enables the provider to dismiss a claim under certain circumstances. Each company has its own defined exclusions therefor it is imperative that you as a buyer thoroughly understand your policy.
Although there are definite distinctions between companies on exclusions, some are universal within the Insurance Industry. The most common are injuries or disabilities caused by illegal felonious activities, those that are self-inflicted, and acts of war. Just like any exclusion, the purpose of these standard limitations serves to limit or[...]