Between student loan debt, a mortgage, dependents, and a rising income, "10x your salary" rarely tells the whole story. Here's how we think about coverage for medical professionals.
Term life insurance provides a death benefit for a set period — typically 10, 20, or 30 years — at the lowest cost per dollar of coverage. It's often the right foundation for income replacement while debt is high and children are young.
Permanent life insurance (whole or universal life) lasts your entire life and can build cash value over time. It's typically used for long-term estate, tax, or legacy planning rather than pure income replacement — and costs meaningfully more than term.
Rather than a flat multiple of income, we typically walk through:
Like most independent brokers, we're compensated by the carrier once a policy is issued — not by a fee from you. That means your consultation, coverage review, and policy comparison cost nothing out of pocket, regardless of whether you move forward.
Most medical professionals start with term coverage to protect against debt and income replacement needs, then layer in permanent coverage later if it fits long-term estate or tax planning goals.
It's a helpful starting layer, but employer coverage is usually a flat amount (often 1–2x salary) and ends when you leave the job. Most physicians need supplemental individual coverage.
Yes. If loans are cosigned or held jointly, or if you want your estate to be able to pay them off, that balance should factor directly into your coverage amount.
Yes, and it's often a good time to lock in rates based on your health rather than waiting until later in your career.