People working in certain careers often choose to get their insurance as a member of a group of other people in that same career. For example, a doctor who wants to get disability insurance may choose to do so with a group of other doctors. It is important to realize that there are significant drawbacks to getting disability insurance (and many other types of insurance) with a group.

In the case of disability insurance for physician groups, the biggest problem is that the doctor’s own job won’t necessarily be covered. An imaging specialist who starts having eyesight problems may not be specifically covered under the plan whereas he would if he had gotten own occupation disability insurance on his own instead of going with the group. Likewise, a dentist may not be specifically covered like he would if he got dentist disability insurance.

It should also be noted that group insurance tends to have fewer benefits and tends to be more restrictive. Partial disabilities may not be covered. Specific types of disabilities may not be covered. You may not be covered if you switch jobs and you certainly won’t be covered if you switch employers. The benefits of getting group insurance (specifically the lower cost) may not outweigh the drawbacks for people in certain careers (such as doctors). Think about this carefully when choosing any type of insurance with a group.

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