Female doctor discussing health with a patient

Over the past few decades, the participation of women in the U.S. medical field has seen significant growth. In 2007, women comprised approximately 28% of practicing physicians. By 2021, this figure had risen to over 37%.

This upward trend is also evident in medical school enrollments. In the 2019-2020 academic year, for the first time, women accounted for more than half of all medical school students in the U.S.

As of the 2023-2024 academic year, women represented over 55% of students in M.D.-granting programs.

The increasing number of female physicians is also reflected in specific medical specialties. For instance, as of 2023, 62% of obstetricians and gynecologists were female, making it the specialty with the highest proportion of female doctors in the U.S.

Higher Risk of Disability Claims

The price disparity in disability insurance rates comes down to primarily one cause. Historically, women are more likely than men to experience disabling conditions during their working years. These conditions include illnesses such as autoimmune disorders, musculoskeletal issues, and mental health challenges. Insurers price their policies based on risk, and the higher likelihood of claims among women translates to higher premiums.

Strategies to Reduce Disability Insurance Costs for Female Physicians

Although female physicians may face higher premiums, there are several ways to reduce costs without compromising on coverage:

1. Purchase Early: Securing a policy early in your career can lock in lower rates before any health issues arise.

2. Compare Providers: Not all insurance companies price their policies the same. Comparing quotes from multiple providers can help identify the most cost-effective option.

3. Look for Unisex Rates: Ocassionally you can find gender-neutral disability insurance policies, which can provide significant savings for women.

4. Work with s Specialist: Consulting an insurance broker or advisor who understands the unique needs of physicians can help you navigate your options effectively.

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.