By Nana Korsah MD
Have you ever felt overwhelmed with the transition from one job to another? The pressures that come with this life change is somewhat unavoidable, but there is something that is sure to ease the process, and that is tail insurance coverage.
So, what is tail insurance? According to www.studentdoctor.net, “tail coverage is an extended reporting period endorsement, offered by a physician's current malpractice insurance carrier, which allows an insured physician the option to extend coverage after the cancellation or termination of a claims-made policy.” In this guide, I will get into how you can set up tail coverage with ease, if needed, and how to discover different types of malpractice insurance. This is information that I wish my coaching clients knew sooner, but my hope is that this will prevent the stress of tail malpractice insurance coverage.
In conclusion, when it comes to malpractice insurance, pick a job that has an occurrence-based policy. If you should decide to go for a claims-made policy, make sure you have established one of the following: your employer will cover tail insurance when you leave, you have a tail coverage fund, or your new employer will pay for your tail policy. I encourage you to use these simple, practical solutions at your disposal because no one should be imprisoned at a job because of tail insurance.
About the author: Nana Korsah, MD is a former Nephrologist turned locum Hospitalist. Board certified in Internal Medicine. She has side gigs as a Telemedicine Physician, Neora skincare/wellness company brand partner, a certified life, and financial coach for physicians who want to pay off debt and live wealthy lives quicker. She helps physicians who want to enjoy the lives they sacrificed so much to create, but they don't know where to start. She helps them build wealth and say yes to the lives they want using the magic of personal finance and multiple streams of income.
You can contact Nana Korsah, MD through her website www.mdworklifebalance.com or via email at Doctorkorsah@gmail.com
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