Professional Planning Group

🎙️ Should I Pay Down Debt or Increase My Disability Coverage?

This is one of the most common financial questions physicians ask, especially early in their careers.

In this episode of Cover Your Assets, Billy Gwaltney explains why adequate disability coverage often needs to come before aggressive debt payoff, especially for physicians carrying large student loans and facing real career uncertainty.

In this episode, he covers:
✅ Why disability insurance is a key part of financial planning
✅ The risk of relying too heavily on employer coverage
✅ Why timing matters when choosing between debt payoff and coverage increases
✅ How to think about protecting your income while still making progress on debt

Your income is your most valuable asset, protecting it needs to be part of the plan.

👉 Watch or listen here:
YouTube: https://hubs.li/Q04nXb1G0
Spotify: https://hubs.li/Q04nXhBy0

🚨 Warning About Group LTD

Employer group long-term disability coverage can be a helpful benefit. It just should not be mistaken for a complete income protection plan.

In this Short, Billy Gwaltney explains why physicians need to be careful about relying too heavily on group LTD alone.

A few of the biggest issues with group LTD:
✅ Benefits are often capped well below a physician’s actual income
✅ Benefits may be taxable, reducing what you really receive
✅ Definitions of disability are often weaker than private specialty coverage
✅ Plans can be changed or removed by the employer

As Billy points out, many physicians who have both private specialty coverage and employer group LTD end up getting paid from their private policy, while many never collect from the employer plan.

Group LTD can be a useful layer. It is rarely the full solution.

👉 Watch the video here: https://hubs.li/Q04jGR3b0

A Warning about Group LTD A warning about your employer group Long-term Disability Policy. Be...