Introducing an easier way to compare and shop for disability insurance.
Believe it or not, disability insurance is an incredibly important aspect of being employed as a medical provider or physician. As a doctor, your income largely depends on your ability to continue providing services to patients, which often results in strong compensation and benefits. In this LeverageRX disability insurance review, you’ll learn about a company that helps you compare and shop for the best policies.
Disability insurance policies come in a variety of shapes and sizes. With unique premiums, payouts, and terms, it’s important to know what you need and why. Online marketplaces like LeverageRX can help you navigate complicated insurance jargon in a way that makes it easier to find the most suitable policy for your particular lifestyle.
Explore this review to learn more about what LeverageRX is, the pros and cons of using such a service, and why it may benefit you as a medical provider.
LeverageRX began in 2016 under the premise of simplifying an important area of financial technology–insurance. The company’s founders saw a world dominated by old-school financial and insurance giants, which weren’t able to directly help doctors secure the policies that truly met their needs.
Since the company’s founding, LeverageRX has helped over 10,000 physicians shop, apply for, and secure life-changing financial products. These include policies related to home ownership, student loans, disability coverage, and more.
LeverageRX maintains several important company values that help the team maintain dynamic growth and success. These values include radical transparency, a data-driven business model, community impact, and team collaboration.
When a person falls ill or gets injured in an accident, it’s very likely that their medical condition could affect normal life and work. Short and long-term disabilities can affect all people, regardless of occupation or income level. To help prevent major financial hardship, many individuals choose to take out a disability insurance policy to cover times of unemployment.
Disability insurance can be especially helpful for physicians, who must be physically present and active in their working environments. While doctors often have high compensation levels, the physical requirements of the job can be demanding. Full mental and physical capacity is needed to not only protect one’s own job, but also to protect the patients being served.
Disability insurance policies rarely cover a person’s full yearly salary. Typically, these insurance policies cover a portion or set percentage of income based upon the specified policy amounts.
In 2018, LeverageRX conducted an extensive and comprehensive survey about physicians and long-term disability insurance. The results of that survey are available in LeverageRX’s Report on Long Term Disability. Highlights include the fact that:
LeverageRX is based in Omaha, Nebraska. Currently, the company’s offerings are available to physicians and applicants residing and working within the United States.
The cost of long-term disability insurance is based on a number of different factors. LeverageRX makes it easy to see what some of these considerations are on the Disability Insurance Cost breakdown page.
Some factors that contribute to the cost of a disability insurance policy include:
LeverageRX can help doctors compare the costs of several notable insurance policies through a quick intake form and questionnaire.
As an online marketplace, it’s important to note that LeverageRX does not issue plans directly. Instead, the service helps doctors and medical providers shop around and compare the best prices and premiums available.
On the Disability Insurance page, customers have the option to browse several company reviews. These include leading names and brands in the disability insurance industry.
With LeverageRX, you can compare plans from insurance companies like:
When you look at the company descriptions on LeverageRX, you’ll be able to access a wealth of information about each insurance provider.
LeverageRX breaks each description down into categories that are easy to interpret. These include:
For busy doctors and medical professionals, these comparisons help eliminate the time, guesswork, and research that would otherwise be required to find the perfect plan. While disability insurance for physicians is complex, the snapshots and quote retrieval tools make it less stressful to find a good option.
As with any online service, there are pros and cons of using LeverageRX for disability insurance. Overall, LeverageRX is a fairly neutral service that simply provides a better and more in-depth look at the disability options that are available. Below are several pros and cons that doctors and other customers may want to consider.
As an online comparison service, LeverageRX cannot guarantee policy discounts directly. However, the company’s mission is to help customers locate the best rates available, particularly for doctors and medical service providers. This means that each company or quote is highly vetted for quality and price.
Although there are not many places that have recent reviews from LeverageRX customers, there are several available on TrustPilot, the consumer review site. There, LeverageRX maintains a 4.6/5 star rating, and representatives from the company regularly respond to consumer comments.
**Here are some of the notable things that reviewers had to say about using LeverageRX for financial products. **
_“Great experience! I had a wonderful experience working with Rhett. He was patient, informative, quick to answer my questions, and made sure everything was prepared carefully. I would highly recommend his service.” _– Janna, reviewer from October 2019
_“It was an easy process to get rates from the loan companies and nice to not have to figure it out on my own.” _– Dale, reviewer from November 2018
_“Great customer service and staff! LeverageRx really helped me make smart financial decisions as I moved through school. Huge help through the process!” _– Medical student review from October 2018
Applying for a disability insurance quote with LeverageRX is easy. Each new customer begins by securing a free quote and following the steps highlighted below for submitting an application through the website.
Currently, the best way to apply for free quote retrieval from LeverageRX is through the main website. Phone support is available for questions and additional help, but there is not a mobile app available for users to use.
Address: 808 Conagra Drive Omaha, NE 68102
**Phone Service: **(402) 915-2045
**Email Support: **[email protected]
More information about how to contact LeverageRX can be located in the footer on the company’s main homepage.
Yes, LeverageRX can help customers compare other financial products in addition to disability insurance. Many of these resources are specific to medical providers, doctors, and nurses. In each of these occupations, there are unique income requirements and liability needs that LeverageRX can help address.
Below is an overview of the different types of financial products that you can research by using LeverageRX.
Due to the extensive schooling and education that doctors must pursue, many leave their training years with substantial student loan debt. LeverageRX helps doctors with student loan refinancing in order to secure better interest rates and terms on existing loans.
A physician mortgage loan is a special type of home loan available for doctors. These options often include low or no down payments on the purchase of a new home. LeverageRX can help physicians navigate debt-to-income ratios, private mortgage insurance (PMI), and other financial considerations that are important during the closing process.
Although many physicians are committed to keeping their patients healthy, life insurance is still a primary need–particularly if there are dependents or children involved. Through LeverageRX, medical professionals can compare and shop for the best life insurance policies based on their own health and unique family situations.
Personal loans can help new and student doctors tackle personal expenses during times of loan repayment or job transition. Physicians and dentists can use LeverageRX to compare various loan options and to get trustworthy recommendations for personal financing lenders.
In this review, you’ve hopefully learned more about how LeverageRX can help you navigate the complex world of disability insurance coverage. While there are several great options available, having an outside perspective and unbiased comparison may help you arrive at the best decision. Use LeverageRX today to receive a free quote and to have peace of mind in your future career, life, and work.
The price of insurance policies changes greatly as you move throughout your career. In general, you’ll receive the best prices on premiums and other benefits the younger you are. The official position of LeverageRX is that it is best to purchase a disability insurance policy during training, before a new physician officially moves on to a practice.
AM Best is a dedicated agency that specializes in providing ratings for insurance agencies around the country. These ratings are always independent and objective, which is why sharing them can be a huge benefit to consumers. The rating is based on factors such as a company’s operating performance, overall policies, and business profile.
When it comes to disability insurance, “residual benefits” refers to the payout that is triggered when there is partial loss of income, based on a set percentage. Typically, this percentage is about 15-20%, depending on the insurance company. Each company differs in whether it offers residual benefits as part of the base policy or as an add-on.
The phrase “own occupation” is common within disability insurance coverage. It refers to the policyholder’s ability to carry out the job duties and responsibilities of their own occupation, and thus it has an impact on whether you are considered disabled by definition. LeverageRX provides a comprehensive explanation of this important term here.
At minimum, LeverageRX recommends own occupation insurance coverage with a guaranteed renewable policy. In addition to these base requirements, it’s wise to include add-ons like catastrophic coverage, cost-of-living adjustments, and student loan riders. These options provide added protection in the event of an unexpected disability.