I'm finishing ophtho residency and considering purchasing disability insurance. Can someone tell me what's a reasonable premium for a woman in her early 30s with no medical/psych history? What are you paying for your monthly premium? I get quotes ranging from $230 to $410! It's a huge range!
Things I want in my insurance (all normal stuff):
True own occupation
Benefit of $5000/month for now
Future increase option (duh)
90 day waiting period
3% compounded cost of living adjustment
Residual/partial disability benefits
+/- catastrophic coverage
Coverage to age 65
I currently pay $5,989.80 annually for a disability policy from Principal. This is for a benefit of $14,930.00/month till age 67 y.o. The "elimination period" (i.e. how long I have to wait after becoming disabled) is 30 days. I believe I started this policy when I was around 32 y.o. old as a healthy male (thankfully, I'm still healthy :-)
$5,000/month seems kind of low even if you are single. But I guess you should write out your expenses and figure out how much you would need if you really could not work at all. As I'm sure you are aware, make sure the policy still covers you even if you can still practice as a medical ophthalmologist (i.e. but cannot operate).