Life Insurance for Obstetricians

Due to the fragility and specialty of their medical profession, obstetricians show a high level of dedication for their career. Other things that matter in the life of an obstetrician may include personal financial obligations or those of their dependent family members. To protect the future needs of your family without subjecting them to economic hardship after you’re gone, you should consider obtaining life insurance coverage.

Owing to the lack of adequate knowledge even among high-income earners like obstetricians, some are hesitant to include life insurance in their to-do list. Various reasons are attached to this lack. Some see life insurance as an overpriced commodity and others may think it is only meant for the elderly. Still, others aren’t just comfortable talking about their own death.

With the right policy in place and through proper education, life insurance should be seen as it is – the perfect means of protecting the financial needs of your loved ones after you’ve passed on.

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Why Do Obstetricians Need Life Insurance?

As an obstetrician, if you own a house, are married, have kids, have a running mortgage or some other forms of debt, or any other financial liabilities, then you need life insurance coverage.

Here’s how insurance coverage saves your financial needs.

Your family needs you even after your passing

No one would want to abandon his or her family without the means of paying for life’s basic necessities. Even when you’re not physically there to provide for their financial needs, they can be well taken care of through life insurance. After your passing, your policy provider will transfer “death benefits” to your named beneficiary (which may be your spouse, children, or both). The death benefits can keep them in shape financially and help maintain their usual standard of living.

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Funerals can quickly be paid

Although prices can vary depending on location, the average cost of the average funeral continues to rise. According to Funeral Wise, it could cost as much as $8,755 to $10,000. With life insurance coverage, your family won’t be burdened with huge financial liability to give you a befitting burial. Besides the actual funeral, there could still be some miscellaneous expenses. Whatever it is, life insurance has it all covered.

Mortgage and accrued debts will be taken care of

According to Nerd Wallet, the average American household is living with at least $184,417 in housing debt and $135,768 in other types of loans (student, car, etc.). The statistics predicted that household debts will likely increase in the coming years. Unfortunately, even after you’ve passed on, your debt will become the responsibility of your family. Life insurance coverage is that lifebuoy that will come to the rescue of your loved ones. It will not only help pay off the mortgage but will also take care of other debts such as medical bills, student loans, and any other obligations.

Life insurance coverage offers many other benefits. Ultimately, it will keep your mind at peace knowing that you’ve made the right decision in life.

What Kind of Policies Are Available To Obstetricians?

Obstetricians can obtain either term life insurance, whole life insurance, or universal life insurance policies.

Whole life insurance

Coverage offers a juicier package than “term” insurance. First, you get a lifelong benefit as long as you pay your premiums. Premium rates and death benefits are fixed. It also accrues cash value, and from it, you can obtain a loan for immediate needs instead of plunging yourself into debt elsewhere.

Term life insurance

Is the cheapest coverage. For term life insurance, you get covered for a specified number of years—usually between 10 and Some employers offer a group life insurance plan to their employees at cheaper rates. However, group term life insurance has many disadvantages that can limit you from enjoying the full benefits of your policy. Above all, it is often not sufficient to support your family’s financial needs. Buying an individual life insurance plan from a private insurance company will help supplement coverage that is not included in your group policy. With your own insurance plan, you’ll get a policy that can be tailored for your specific needs.

Universal life insurance

Is a lifelong coverage too, but it offers a flexible payment instead of fixed payment. It also accrues cash value that can be useful during your lifetime. It could take up to 10-15 years to get to this point.

What Should Obstetricians Look For?

Before you buy, seek for advice

This is especially important if you’re an obstetrician who is a first-time buyer. The subject of life insurance can be a little complex. But with the aid of an experienced insurance advisor, you can get your questions answered.

Buying early in life

Avoid the mistake of buying insurance only after you need it. By then, you risk paying higher premiums. Generally, insurance companies will consider your age when selling the policy. The older you are, and the greater the risk of your passing, the higher your premium rate.

Look for affordability

Just because you earn a large salary as an obstetrician does not mean you should break the bank when buying a policy. What determines how much you buy is usually based on your family and personal circumstances.


Some things change, while others stay the same. Life can’t be predicted. Your present circumstances when you’re buying a policy might change in the next ten years or even less. If you purchase coverage with a conversion feature, you can adjust it to fit into your future situation.

How Gold Coast Life Insurance Can Help

Buying life insurance coverage shouldn’t be a difficult thing to do. At Gold Life Insurance, we’ll provide you with first-hand information that’ll lead you to make the best life insurance decision.We have worked with professionals in the medical field who seek to secure their career goals and the financial needs of their families in the past.You don’t need to undertake any medical examination before you’re accepted.

We also accept high-risk applicants and those with pre-existing conditions. Start with us by using our free quote today.

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