Disability Insurance for Oregon Physicians

Think of disability insurance as your financial safety net, giving you an earnings replacement if you’re not able to earn a paycheck due to illness or injury.

Cost of Living in Oregon

According to 2021 data from the Bureau of Economic Analysis, the annual average cost of living in Oregon is $47,779.

 

      • Housing and Utilities: $8,924
      • Healthcare: $7,956
      • Food and Beverage (non-restaurant): $4,104
      • Gas and Energy: $1,030
      • All Other Personal Expenses: $25,765

Average Base Salaries in Oregon

The average salary in Oregon is $62,680. Below are average salaries for medical professionals based on data from Indeed in 2024.

 

Disability Prevalence & Impact in Oregon

Key Consideration for Oregon Physicians When Choosing Disability Insurance

    1. Own-Occupation Definition: Ensure the policy has an own-occupation definition of disability, so you can claim benefits if you’re unable to work in your specific medical specialty.
    2. Benefit Amount and Period: Look for a policy that offers a sufficient benefit amount to cover your living expenses and loan repayments. Additionally, choose a benefit period that provides coverage until you reach retirement age.
    3. Elimination Period: This is the waiting period before benefits begin. Common elimination periods are 90 days, but you can choose shorter or longer periods based on your financial buffer.
    4. Riders and Add-Ons: Consider additional riders such as future purchase options, which allow you to increase coverage as your income grows, and cost-of-living adjustments to ensure your benefits keep pace with inflation.
    5. Premiums and Discounts: Compare premiums among providers and inquire about discounts for medical residents and associations. Some providers offer reduced rates during residency that can be locked in for the future.

Ready to secure your future?

Request a free quote for disability insurance today and take the first step towards safeguarding your career and peace of mind. Your future self will thank you.