Disability Insurance for Tennessee 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 Tennessee

According to 2021 data from the Bureau of Economic Analysis, the annual average cost of living in Tennessee is $42,469.

 

      • Housing and Utilities: $7,303
      • Healthcare: $6,946
      • Food and Beverage (non-restaurant): $3,016
      • Gas and Energy: $1,152
      • All Other Personal Expenses: $24,051

Average Base Salaries in Tennessee

The average salary in Tennessee is $52,820. Below are average salaries for medical professionals based on data from Indeed in 2024.

 

      • Physicians: $162,458
      • Dentists: $219,203
      • Veterinarians: $113,587
      • Nurses: $103,027
      • Anesthesiologists: $306,834
      • Surgeons: $318,823
      • Cardiologists: $429,250
      • Radiologists: $112,619
      • Psychiatrists: $266,820
      • Pediatricians: $200,909
      • Oncologists: $382,169
      • Urologists: $291,313
      • Emergency Medicine Physicians: $230,125
      • Dermatologists: $345,650

Factors for Tennessee Physicians to Consider When Choosing Disability Insurance

Own-Occupation Coverage: For doctors, an own-occupation policy is essential. This means that you will receive benefits if you’re unable to perform the duties of your specific medical specialty, even if you can work in another capacity.

Benefit Period: Choose a benefit period that aligns with your financial goals and obligations. While shorter periods may be less expensive, they might not offer the long-term security you need.

Elimination Period: This is the waiting period before benefits begin. A shorter elimination period means higher premiums but quicker access to benefits when needed.

Policy Riders: Consider additional policy riders that can enhance your coverage. Examples include cost-of-living adjustmentsfuture increase options, and catastrophic disability benefits.

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.