Do You Know About the AAOS Member Insurance Program?

According to the American Medical Association’s 2013 Report on U.S. Physician’s Financial Preparedness, nearly half of the physicians surveyed were “somewhat” or “very” concerned about the amount of life insurance they own. Nearly 6 out of 10 physicians were “somewhat” or “very” concerned about the amount of disability insurance they own. And nearly 70 percent don’t have long-term care insurance.

Physicians younger than age 40 are especially concerned; more than a third rank having enough life and disability insurance among their top financial concerns. This remains true even for those who have some kind of coverage through their employer.

Further, female physicians trend behind their male counterparts in many areas. According to the report, female physicians have less financial knowledge and less confidence abaout their financial situation. More than half admit to being “behind where I want to be.”

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