Disability Insurance for Virginia 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 Virginia

According to 2021 data from the Bureau of Economic Analysis, the annual average cost of living in Virginia is $48,249.

 

      • Housing and Utilities: $8,774
      • Healthcare: $7,178
      • Food and Beverage (non-restaurant): $3,581
      • Gas and Energy: $1,263
      • All Other Personal Expenses: $21,983

Average Base Salaries in Virginia

The average salary in Virginia is $65,590. Below are average salaries for medical professionals based on data from Indeed in 2024.

 

      • Physicians: $183,269
      • Dentists: $218,788
      • Veterinarians: $108,198
      • Nurses: $85,617
      • Anesthesiologists: $327,670
      • Surgeons: $287,852
      • Radiologists: $134,449
      • Psychiatrists: $253,303
      • Pediatricians: $181,666
      • Gastroenterologists: $208,813
      • OBGYN Physicians: $186,515
      • Dermatologists: $293,966

The Best Disability Insurance Companies for Virginia Physicians

Choosing the right disability insurance provider is crucial. Here are some of the top providers that cater specifically to physicians:

 

  1. Guardian: Known for its robust coverage options, Guardian offers policies with own-occupation definitions, which is vital for physicians. This means you can receive benefits if you’re unable to perform your specific medical specialty, even if you can work in another capacity.
  2. MassMutual: MassMutual provides comprehensive coverage with options to customize your policy according to your needs. They offer various riders, including future insurability and cost-of-living adjustments, ensuring your policy evolves with your career.
  3. The Standard: The Standard offers a strong own-occupation policy and features like student loan protection and residual disability benefits, which can be particularly beneficial for resident physicians.
  4. Principal: Principal’s disability insurance policies are known for their flexibility and extensive coverage options. They also offer a medical resident discount, making it more affordable for those in training.
  5. Ameritas: Ameritas provides own-occupation coverage and offers discounts for medical residents and fellows. Their policies are flexible and can be tailored to meet the specific needs of physicians.

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.