The Responsible Resident
The Responsible Resident Podcast is a short-form educational series designed for medical students, residents, and fellows who want clarity around financial decisions during training, without pressure, sales, or noise.
Hosted by Amber Stitt, co-owner of MD Disability Quotes and a 15-year specialist in physician income protection, this podcast focuses on what truly matters during medical training: timing, underwriting, and protecting future earning power.
Most residents believe financial decisions can simply be handled later. What this series explains, calmly and clearly, is that some decisions are influenced by health history and timing. Flexibility exists during training, but it does not last forever.
You don’t need to take action immediately. The goal is competence first, so when decisions matter, you’re prepared.
If you’re in training and want to understand your options before they narrow, this podcast is for you.
The Responsible Resident
Common Mistakes When Purchasing Disability Insurance - RR Ep 7
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What are the most common disability insurance mistakes physicians make, and how can you avoid them?
Disability insurance for physicians, own-occupation coverage, underwriting strategy, and income protection explained clearly.
In this episode of The Responsible Resident, Amber Stitt breaks down the most common disability insurance mistakes doctors make when purchasing coverage and how to approach disability insurance with clarity and strategy.
Learn why waiting too long, focusing only on discounts, and skipping pre-screening can impact your eligibility, pricing, and long-term income protection.
This episode highlights key disability insurance concepts, including:
- Why timing, health history, and underwriting matter
- The importance of pre-screening before applying
- Differences in disability insurance contracts and policy definitions
- When Guaranteed Standard Issue (GSI) disability insurance may, or may not be the right fit
- How application strategy impacts underwriting outcomes and future options
Disability insurance is not just about buying a policy, it is about protecting your income, maintaining financial flexibility, and making informed decisions early in your career.
Subscribe for more physician-focused education on disability insurance and financial planning.
📻 Thank you for tuning in to The Responsible Resident!
To Download the FREE Medical Professionals Blueprint:
If you would like a free quote, please contact us at:
mddisabilityquotes.com/responsible-resident
Amber Stitt is a disability insurance specialist with over 15 years of experience helping physicians protect their income and make informed financial decisions.
As the host of The Responsible Resident, she brings a structured, education-first approach to topics like disability insurance, underwriting, and income protection, areas often overlooked during medical training.
🔗 Connect with host, Amber Stitt, on Social Media:
📲 Be sure to visit the Stitt Strategies website:
🎬 And remember, let's take action today!!!
Amber Stitt [00:00:00]:
Welcome to The Responsible Resident. I'm Amber Stitt. This podcast takes a common sense approach to financial decisions for physicians, breaking down complex topics into something clear, practical, and usable. Because you shouldn't have to have a finance degree to build financial freedom. In today's episode, we're going to walk through one of the most important topics in this series, the most common mistakes physicians make when purchasing disability insurance and how to avoid them. Because in many cases, it's not a lack of effort that creates problems, it's a lack of clarity around how the process actually works. Why this matters: At a high level, this comes back to one word, "Freedom." If you can't stop working tomorrow and live on what you already have, then your income is what supports your life.
Amber Stitt [00:00:48]:
And protecting that income early and intentionally gives you more control over your future. Mistake # 1: Waiting too long. One of the most common mistakes is simply waiting. Many physicians assume they'll get to it later, after residency, after fellowship, or once their income increases. But disability insurance is one of the few areas where your age matters, your health matters, and your timing matters. Once your health changes, your options may change with it. That's why reviewing your options early, even if you don't take action right away, is so important. Mistake # 2: Focusing only on discounts. Physicians are often offered discounts during training and those can be valuable. But focusing only on discounts can lead to missed opportunities because while pricing matters, your health matters more.
Amber Stitt [00:01:41]:
If you wait to apply and your health changes, you may no longer qualify for the same coverage, or in some cases, any coverage at all. So while discounts are helpful, they should never outweigh the importance of evaluating your health early and shopping all own-occupation carriers. Mistake #3: Skipping Pre-Screening. This is one of the most important and most overlooked steps before applying, especially if you have any medical history, pre-screening is critical. Pre-screening allows us to review your history in detail, identify potential concerns early and sometimes correct records, understand how different carriers may evaluate your case, and determine the best path forward before submitting anything formally. Because once an application is submitted, the outcome becomes part of your record. A decline is not just a moment, it can impact your future options. This is why our team does not "wing it". We spend time working directly with underwriting teams to understand how your case may be viewed so we can guide you appropriately before applying. Mistake # 4: Assuming all policies work the same way. Not all disability insurance policies are structured the same way.
Amber Stitt [00:02:59]:
There are differences in definitions of disability, contract language, and policy features that can significantly impact how coverage works in a real life scenario. Two policies may look similar on the surface, but function very differently when it matters most. Understanding those differences is key to making a confident decision. I'd like to take a second to tell you about a FREE Medical Professionals Blueprint that I created with you in mind. At some point in your career, you realize it's not just about making more money, it's about making decisions that actually support your life. That's exactly why I created The Pathways Perspective for Physicians. It's a simple, non-technical framework to help you think through your career, your money, your risk, and how everything connects as your life evolves. You shouldn't have to have a finance degree to build financial freedom.
Amber Stitt [00:03:55]:
You don't need to have everything figured out, you just need a place to start. You can download the FREE Medical Professionals Blueprint at: StittStrategies.com/Blueprint. Mistake # 5: Defaulting to GSI without understanding the trade-offs. Guaranteed Standard Issue, or GSI, can be a valuable option. It allows physicians to obtain coverage without medical underwriting, especially helpful for those with more complex medical histories. But GSI is not always the first, or best, option for every physician. It solves a different problem. In many cases, it can be more expensive over time, more limited in structure, and less customizable than fully underwritten coverage. And one important point to understand is how cost scales over time. What you see early on is often based on a smaller benefit, around $5,000 per month.
Amber Stitt [00:04:55]:
As your career grows and your coverage increases to $15,000 or $20,000 per month, that pricing difference grows, as well. Over time that can result in a significant long-term cost difference, sometimes well into 6 figures over the life of a policy. That doesn't mean GSI is the wrong choice, but it does mean it should be chosen intentionally, not by default. Mistake # 6: Not understanding the application strategy. Applying for disability insurance is not just a formality, it's a strategy. Two physicians with the same medical history can have very different outcomes depending on: how their case is presented, which carrier is approached first, and whether informal underwriting was done ahead of time. Reducing declines is not just about applying early, it's about applying intentionally. A more thoughtful approach to disability insurance looks like this: Understand your options, review your health early, pre-screen before applying, evaluate underwriting viability, then determine the best path, whether that's fully underwritten, GSI, or a combination.
Amber Stitt [00:06:09]:
This allows you to make decisions based on clarity, not urgency. You don't have to figure everything out today, but taking small, informed steps early can make a meaningful difference over time. Because protecting your income is not just about insurance, it's about protecting your ability to: make decisions, support your family, and build your life on your terms. If you'd like a second set of eyes on your disability insurance, you're welcome to schedule a consultation with our team. My partner, Scott Nelson-Archer and I work with physicians across the country through MD Disability Quotes. We spend our time helping residents, fellows, and attendings understand their options and design coverage that aligns with their career path, as vetted advisors to the White Coat investor. The goal is simple: "Clarity". So that you can make confident decisions about protecting your income.
Amber Stitt [00:07:03]:
Also, if you found this episode helpful, share it with a colleague, or someone you care about and be sure to follow so you don't miss the next episode. If this episode helped you think a little more clearly about your next step, that's the goal. You don't need to have everything figured out, but you do need to take ownership and take a meaningful step forward today. Thanks for listening to The Responsible Resident. As a reminder, this podcast is for general educational purposes only. It is not legal, tax, or individualized financial advice and coverage options will vary based on your personal situation.