As a young physician, you’re investing years of rigorous training and long hours to build a rewarding career in medicine. While the future is full of promise, it’s crucial to prepare for the unexpected. One of the smartest financial decisions you can make early in your career is securing disability insurance. Here’s why getting coverage while you’re young is not just a good idea—it’s essential.

1. Lower Premiums for Life

Disability insurance premiums are largely based on your age and health at the time of application. The younger and healthier you are, the lower your premium rates will be. Locking in coverage early ensures you pay less over the lifetime of your policy compared to purchasing coverage later when rates will be higher due to age and potential health changes.

2. Protect Your Future Earnings

Your ability to earn an income is your most valuable asset. Physicians can expect to earn millions over the course of their careers, but a disability could significantly disrupt those earnings. If an illness or injury prevents you from working, disability insurance ensures you continue receiving income, allowing you to cover living expenses, student loans, and other financial obligations.

3. You May Not Qualify Later

A medical condition can develop at any time, and once you have a pre-existing condition, obtaining coverage may become more expensive—or worse, you may not qualify at all. By securing disability insurance while you’re young and healthy, you avoid the risk of being declined in the future due to unforeseen health issues.

4. Take Advantage of Special Discounts for Young Physicians

Many insurers offer discounts for medical residents, fellows, and early-career physicians. These discounts can significantly reduce your premiums, and in many cases, you can lock in these lower rates for the duration of your policy. Waiting too long could mean missing out on these cost-saving opportunities.

5. Own-Occupation Coverage Protects Your Specialty

As a physician, your skill set is highly specialized. A true own-occupation disability insurance policy ensures that if you’re unable to perform the duties of your specific medical specialty, you’ll still receive benefits—even if you can work in another field. The best time to secure an own-occupation policy is early in your career before premium rates increase.

6. Peace of Mind Early in Your Career

Residency and the early years of practice are already stressful enough without the additional financial risk of being uninsured. Disability insurance provides peace of mind, allowing you to focus on your training and career growth without worrying about what would happen if an unexpected illness or injury prevented you from working.