Life is full of unpredictable twists and turns, and a single moment can undoubtedly alter the course of our lives forever. Disability is a common occurrence affecting millions of people worldwide, and it can happen to anyone at any time. In many...
Life is full of unpredictable twists and turns, and a single moment can undoubtedly alter the course of our lives forever. Disability is a common occurrence affecting millions of people worldwide, and it can happen to anyone at any time. In many cases, disability is caused by an unexpected accident or illness that prevents the individual from working and earning an income. Moreover, our ability to work and earn an income is one of our most valuable assets. Without it, we may struggle to maintain our lifestyle and provide for our family. It is why disability and life insurance are crucial for protecting our financial well-being.
Disability insurance is claimed to be a type of insurance that pays a monthly benefit to an insured person who is unable to work due to an illness or injury. Its advantage is designed to replace a portion of the individual's income, help them maintain their lifestyle, and cover their expenses. It can also provide peace of mind, knowing that our families and we will have financial support in case of a disability. However, when it comes to this, it is vital to understand the different types of policies available and choose the one that best meets your needs. Thus, disability and life insurance are essential for protecting your financial well-being and ensuring that your loved ones are taken care of if something happens to you. Consequently, doctors must carefully consider their insurance needs and choose policies that provide the proper coverage and protection for their unique situation.
Dr. Stephanie Pearson is an OBGYN, Physician Disability & Life Insurance Expert, speaker, author, and licensed broker specializing in disability and life insurance for physicians. Injured in the prime of her career, the Board-Certified OB/GYN took an unexpected journey to become an advocate and advisor for physicians' insurance. Today, she's made it her mission to educate and empower her peers about the importance of protecting their most valuable asset — the ability to earn an income. As an insurance advisor, Stephanie combines her hard-won insurance expertise with personal experience to address the physical and mental impact of physician disability, underscoring the importance of proper coverage. Stephanie's background includes nine years of medical practice after receiving her M.D. from Drexel University's MCP/Hahnemann College of Medicine and completing a residency at Pennsylvania Hospital.
In this special episode with Dr. Stephanie Pearson, we'll learn about the journey of an empowered woman passionate about educating healthcare professionals on the value of disability and life insurance, as well as the potential financial risks they may encounter if they are not adequately protected. Be encouraged by how she has served numerous physicians and their families in achieving serenity and financial stability in the event of unexpected illness or injury.
"I might not be taking care of patients, but I feel that I'm making a big difference for the physicians, my colleagues, and my friends for them to be better educated than I was 25 years ago and to have somebody who's truly advocating for them in their corner." – Dr. Stephanie Pearson
(00:00:00) Introduction + Episode Snippet
(00:01:21) Pearson Ravitz: Seeking to educate physicians
(00:02:44) A Passion for Teaching: Affecting change for people.
(00:04:00) Reshaping the face of insurance
(00:06:56) The most significant silver lining
(00:08:05) The unfancy politics of hospitals.
(00:10:44) Quick Reminder: Are you enjoying this episode? Please share it, leave a five-star review, and give feedback. Go to TimeOut with the SportsDr website.
(00:11:13) Disability Insurance: Why do we need it?
(00:14:01) The goal of having a private policy
(00:15:51) A vast misconception about insurance
(00:16:38) Having no standardization of language: Getting laypeople confused.
(00:18:21) Managing realistic expectations.
(00:21:11) Final TimeOut with Dr. Stephanie Pearson: How can physicians receive disability insurance to protect their capacity to provide for their loved ones and themselves?
(00:22:12) Reach out to a reputable insurance broker agent.
(00:22:58) Be mindful not to be set up for failure.
(00:23:38) Where to connect with Dr. Stephanie Pearson.
"I get thanked more now being an insurance expert than I did as a clinician from other physicians." – Dr. Stephanie Pearson
"The biggest silver lining is that I've had dinner with my children almost every day of their lives since I got hurt." – Dr. Stephanie Pearson
"I don't miss the politics of hospitals. I don't miss the day-to-day slogging that I know most of my friends are still dealing with." – Dr. Stephanie Pearson
"Disability Insurance is insurance for your ability to make money and be gainfully employed. There are two major types of disability insurance, and there's always exceptions to rules." – Dr. Stephanie Pearson
"The biggest issue is the language. We want to make sure that people are getting what they're paying for and that we can get people closer to being whole." – Dr. Stephanie Pearson
"No one is going to make you financially whole." – Dr. Stephanie Pearson
"It's imperative that you're being educated on apples to apples, apples to oranges because there's no language standardization. Different phrases that are used can be defined the same way or differently. I think as an industry. They want laypeople to be confused." – Dr. Stephanie Pearson
"If an agent or broker does not ask you anything about your medical history, then go elsewhere. Because if they're not asking about your medical history, surgical history, and medications, they're setting you up for failure." – Dr. Stephanie Pearson
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CEO and Insurance Advisor
Stephanie Pearson, MD, FACOG, is a board-certified OB/GYN and an educator for disability and life insurance for physicians.
A resident of Bryn Mawr, PA, Stephanie grew up in Southern New Jersey, received her B.S. from Emory University, her MD from MCP/Hahnemann (now Drexel University College of Medicine), and completed her residency at Pennsylvania Hospital in Philadelphia.
Since suffering a workplace injury that disabled her in the prime of her career, Stephanie has made it her mission to educate her physician peers about the importance of protecting their most valuable asset—the ability to earn income—and life’s most important people—their families.
In her role as CEO of PearsonRavitz, an insurance advisory firm, she leads her team to fulfill her mission across all 50 states. Stephanie’s talks empower physicians at all stages in their career to make confident and educated decisions regarding their insurance coverage.