Episode 64: Protecting Your Wealth with the Right Insurance

In Episode 64 of Doctor’s Wealth and Wellness, host Norm Wright, a Certified Financial Planner with SKC Financial Group, outlines three critical insurance strategies to protect physicians’ wealth from risks like disability and lawsuits. Highlighting a 2025 AM Best report that 45% of doctors lack adequate coverage, Norm emphasizes specialty-specific disability insurance to safeguard high incomes, robust malpractice insurance with tail coverage to shield against claims (noting 25% of physicians face lawsuits annually per a 2025 Medscape report), and umbrella liability policies to protect personal assets. Through real-world examples and actionable steps, such as reviewing policies and consulting brokers, Norm empowers his physician audience to build a financial fortress, ensuring their hard-earned wealth aligns with their professional dedication. Examples in this episode are hypothetical and not representative of a specific individual.