Episode description Disability insurance specialist Taylor Roussel joins Cameron for a clear, no nonsense breakdown of income protection, what many people still call disability insurance. They unpack why your ability to earn is your true biggest asset, how group plans differ from individually owned policies, and the key contract definitions and riders that actually determine whether you get paid when life hits hard. Real talk, practical examples, and a simple framework to evaluate coverage for physicians, dentists, business owners, and anyone who works because they have to, not just because they want to. Quick takeaways - Think income protection, not disability. The job is to replace income if sickness or injury cuts it off. - Your income is likely your largest asset over a career horizon. Protect it first. - Group coverage is mass market with caps and limits. Individually owned policies are customizable to you. - Contract definition matters most. True own occupation is the gold standard for many professionals. - Three riders to know. Future Insurability, Partial or Residual Disability, and Catastrophic. Add COLA for long claims. - The 60 percent rule is a myth. You can often protect more with proper design. Timestamps 00:09 - Cameron introduces Taylor and the episode setup 02:20 - Taylor’s path into income protection and why it became a calling 04:05 - Why Taylor avoids the term disability insurance in favor of income protection 06:35 - Your lifetime earnings as an asset, a quick back of the envelope calculation 09:59 - Hidden costs of disability and why expenses often rise, not fall 13:10 - Group versus Individual coverage explained in plain English 19:19 - Definitions that decide claims, own occ, modified occ, any occ, and true own occ 23:33 - Picking carriers, COMDEX, contract language, and premium as a three legged stool 29:57 - The riders that matter and how they work 31:10 - Future Insurability for residents, new attendings, and rising earners 32:33 - Partial or Residual benefits for commission, production, and business owner income 34:26 - Catastrophic benefits and ADLs explained 35:36 - Cost of Living Adjustments during long claims 36:23 - Debunking the 60 percent myth 37:47 - Final takeaway, buy protection before you need it Guest Taylor Roussel - Specialist in income protection for advisors and their clients, with experience designing coverage for physicians, dentists, business owners, and independent professionals. What you will learn - How to evaluate your current group LTD and spot caps, offsets, and gaps - When an individually owned true own occupation policy is worth it - The small pieces of contract language that turn into big claims outcomes - How to future proof your policy as your income grows Resources mentioned - Definitions to know, own occupation, modified occupation, any occupation, true own occupation - Riders to research with your advisor, Future Insurability, Partial or Residual, Catastrophic, COLA, Student Loan, Retirement Protection Connect - Share this episode with a friend who thinks their group LTD is good enough - Subscribe and leave a rating if this helped you rethink your protection strategy - For coverage reviews or plan design, reach out through the show page Keywords income protection, disability insurance, true own occupation, group LTD, individual policy, COMDEX, physicians, dentists, business owners, partial disability, residual benefit, catastrophic benefit, COLA rider, future insurability, personal finance, risk management
