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Buying Disability Insurance? Read This First!

As the saying goes, forewarned is forearmed. And for the family physician looking to buy disability insurance, there are several things you need to know before speaking with an agent.

To start with, buying disability insurance is different from buying home, car, health insurance or long-term care insurance. Not only are all products not created […]

7 Ways Physicians Can Build a Rainy Day Fund

Do you have a financial emergency fund put aside?

Many physicians don’t. They often think that they’re too busy to focus on their financial situation. Or they’re making enough money so that they don’t have to worry about keeping to a budget. And they believe that their jobs are secure. That’s not surprising given that […]

How to Prepare for a Term Life Insurance Application

Having appropriate and adequate life insurance coverage is an essential part of most physicians’ financial plans. Even if you have a whole life policy as part of your retirement portfolio, you may also be considering a term life policy.

Often, people use term life insurance to meet specific objectives. For example, if you’re starting a […]

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    What You Need to Know About Life Insurance in the Age of the Coronavirus

What You Need to Know About Life Insurance in the Age of the Coronavirus

Whether or not you, your family members or friends have contracted the coronavirus, the events of the last few months have driven home the fragility of life and the importance of being prepared. As a physician, you have been in the thick of the current pandemic, seen how quickly the danger can spread and […]

When Should You Review Your Life Insurance Policy?

Life changes. Once you graduate from medical school and complete your residency, the rate of change only seems to escalate. New job opportunities and business decisions can mean more income, while marriage, children and owning a home lead to more spending.

As these changes occur, ask yourself: What happens if I die and am not […]

A Whole Life Strategy for Minimizing Taxes in Retirement

While we tend to focus on ways to minimize taxes while we’re working, it’s also important to consider how to make retirement less taxing. One tax minimization strategy for retirement is the 7702 plan, which you fund with after-tax dollars. It’s a life insurance policy that augments the death benefit protection with an investment […]

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    Is It Time to Consider Using Whole Life Insurance to Reduce Your Portfolio Risk?

Is It Time to Consider Using Whole Life Insurance to Reduce Your Portfolio Risk?

There’s
a popular phrase used in the investment world, “buy term and invest the
difference.” At least since the 1980s it’s captured the prevailing advice about
life insurance. In fact, since that time, whole life insurance has sometimes received
a bad rap, much of which is undeserved.

More
recently, studies have come out that put a new perspective on whole […]

The Family Physician’s Prescription for Financial Health

You know the importance of helping your patients enjoy optimal health. But what about you? Specifically, what are you doing to help ensure your financial health?

Debt management, tax planning, estate planning, children’s college fund, retirement planning, and the legacy you want to pass along to your family—these are just a few of the areas […]

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    How the AAFP Foundation Helps Improve Health Around the World

How the AAFP Foundation Helps Improve Health Around the World

With a vision of improving the health of all people, the American Academy of Family Physicians (AAFP) Foundation’s programs include humanitarian, educational, and scientific initiatives. Along with the donations from family physicians, corporations and others, dividends received from the AAFP Foundation’s subsidiary, AAFP Insurance Services, Inc., make these initiatives possible. The 501(c)(3) organization supports […]

9 Smart Tax Strategies for Keeping More of Your Money

When it comes to building wealth and preparing for retirement, there are many strategies for saving and investing. One aspect that physicians often do not fully utilize is saving through smart tax strategies. Specifically, you should have a tax strategy that takes advantage of legally allowable tax deductions to retain as much of your […]