Like all physicians and surgeons, neurologists perform very important public health services for our society, treating disorders of the brain and nervous system at large. It is a high risk but high reward profession, particularly for neurosurgeons who can’t afford to make a single mistake. According to the Bureau of Labor Statistics, neurologists have a $208,000 median salary (or $100 per hour). Usually, the position requires 8 years of specialized education and typically an additional 3-9 years of internships and residencies.
Neurologists invest considerable time, money, and energy into getting to the position they’re currently in. If you’re a neurologist, you likely have to. So if an illness or injury prevents you from doing your job, you won’t want to let all of those hard-earned investments slip away. Furthermore, you won’t want to let your disability investments slip away while you’re out of work. You may have to wait to return to work, but most of your daily, weekly, monthly, and annual expenditures won’t wait. Probably, you’ll have to worry about covering taxes, rent or mortgage payments, loans and other expenses.
The good news is that disability insurance benefit payments can cover most of these expenses. By paying out at least 60% of your pretax income, you’ll be able to take in roughly the equivalent of your take-home pay. Depending on your personal needs, you could opt to either purchase a short-term benefit period or a long-term option – enough to last several years if necessary. You may also want to review the terms carefully to ensure that your plan is “own occupation” prior to committing to it.
If the plan is all occupation, then you won’t be eligible to receive income protection benefits unless you’re unable to work any job. In order to receive benefits, you’ll likely have to submit a detailed claim packet, elaborating on the condition and reasons that you want to claim those disability benefits. Once the claim is approved, you generally have to wait out a pre-benefit elimination period (usually 90 days or so) before you can begin to receive benefit payments.
Ferrin v. Aetna Life Ins. Co., 336 F. Supp. 3d 910 (N.D. Ill. Sept. 28, 2018) (holding insurance policy’s grant of discretionary authority is void under Texas law due to certificate being issued after effective date of regulation, and policy renewing after effective date, and holding Plaintiff was disabled from Any Reasonable Occupation where treating doctors certify she can sit at the occasional level, and insurer’s consultants opine Plaintiff can sit frequently, as weighing all evidence together would make capacity likely at low end of frequent range at best).
Sadowski v. Tuckpointers Local 52 Health & Welfare Trust, 281 F. Supp. 3d 710 (N.D. Ill. Dec. 20, 2017) (holding plan was arbitrary and capricious in denying medical benefits for removal of spinal cord stimulator following a fall down the stairs and infection where plan argued the expenses were caused by the same injury as the car accident necessitating implantation of the stimulator years earlier)
Tassone v. United of Omaha Life Ins. Co., 264 F. Supp. 3d 867 (N.D. Ill. Aug. 30, 2017) (awarding client long term disability benefits denied by United of Omaha despite insurer’s doctor opining there was no objective evidence of functional impairment)
Suson v. PNC Fin. Servs. Grp., Inc., No. 15-CV-10817, 2017 WL 3234809 (N.D. Ill. July 31, 2017) (holding Liberty Mutual’s denial of client’s long term disability benefits was arbitrary and capricious where Liberty Mutual disregarded client’s carpal tunnel syndrome and relied on a vocational opinion to which client never had an opportunity to address before litigation)
Our firm is in the business of serving others, and those who also serve others, including neurologists. After giving so much to others through some of their most vulnerable times of need, you deserve to be given back to during your most vulnerable time of need. We’ve reaffirmed our commitment to serving others by helping thousands of them, working Chicagoans from all walks of life who help keep this beautiful, vibrant community flourishing. And if you or someone you know was a Chicago-area neurologist who was forced out of work, we can help you through any disability insurance disputes.
Contact Bartolic Law today to learn more and schedule a consultation online.