155: Malpractice Insurance - Above Policy Limit Judgments

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 23 April 2020

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My risk for an above policy limit malpractice judgment is one in 20,000. A listener asked me how I came up with that number as he is in a different specialty and wanted to figure out what his risk is. In this episode I share where to find the numbers to figure out your risk for being sued above the policy limits. But the truth is the vast majority of above policy limit judgments are reduced on appeal to policy limits. If you are worried about an above policy limit judgment realize that it is possible but the chances are pretty low. If this is something you worry about, listening to this episode will help calm that fear. If this isn't something that worries you, we also cover other listener questions in this episode. I address whether to investor or pay off debt during this bear market, shopping for disability insurance, what to do with a 457 from an old employer, starting a side gig, variable withdrawal rates, HSAs, and my experience owning single stocks. If you have questions you want answered on the podcast you can record them at https://www.speakpipe.com/whitecoatinvestor

This podcast is sponsored by Bob Bhayani at drdisabilityquotes.com. They are an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. They specialize in working with residents and fellows early in their careers to set up sound financial and insurance strategies. He is very responsive to me and to readers having any sort of an issue, so it is no surprise that I get great feedback about him from our readers and listeners. If you need to review your disability insurance coverage to make sure it meets your needs or if you just haven’t gotten around to getting this critical insurance in place, contact Bob at drdisabilityquotes.com today by email [email protected] or by calling (973) 771-9100. Just get it done!

Transcript

Click on a timestamp to play from that location

0:00.0	This is the White Code Investor Podcast, where we help those who wear the White Code get a fair shake on Wall Street.
0:06.0	We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.
0:12.0	Here is your host, Dr. Jim Dolly.
0:18.0	This is White Code Investor Podcast number 155, a Bob Policy Limits Judgement.
0:23.0	Welcome back to the White Code Investor Podcast. We're glad you're here. Before we get into a Bob Policy Limits Judgement, a word from one of our sponsors.
0:31.0	This episode is sponsored by Bob Bionny, at DrDisabilityQuotes.com. Bob is an independent provider of disability insurance planning solutions to the medical community nationwide, and a long time WCI sponsor.
0:44.0	Many of you might know him from the Facebook group where he's been sponsoring as well. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies.
0:55.0	He is extraordinarily responsive to me anytime anybody has any sort of issue, so you can trust him with your disability insurance and term life insurance needs.
1:05.0	If you need your coverage reviewed or if you just don't have it yet, call him at 97371 9100.
1:13.0	You can also email him at info at drdisabilityquotes.com or just go to the website and request a quote at drdisabilityquotes.com.
1:23.0	Our quote of the day comes from John Templeton, said the four most dangerous words in investing are, this time it's different.
1:30.0	Because every time there's a market downturn, it feels different than the previous ones. There are aspects that are unique. Every air-bare market is unique, but you know what? They all end the same way with the recovery.
1:43.0	And most importantly, they all end, so stay the course. You can do it.
1:47.0	Thank you for what you do, especially those of you who are truly on the front lines. Maybe by the time you hear this on the 23rd, we're recording it on the 8th.
1:55.0	By the time you hear it on the 23rd, maybe I will truly feel like I'm in the front lines as well.
1:59.0	Thus far, our emergency departments here in Utah have been fairly empty.
2:03.0	And so we're keeping our fingers crossed that they stay that way and that we can keep up with this.
2:08.0	So far, projections for us are that we will have enough ventilators and we'll have enough hospital beds to take care of the pandemic when it finally gets here.
2:17.0	Although today's news for the first time suggested that we were going to peak this weekend instead of the last week of April.
2:24.0	So we'll see. Hopefully they're right about that.
2:27.0	We'll be recording an episode soon all about disability insurance. If you have disability insurance questions, please record them on the speak pipe at whitecode investor.com slash speak pipe and we'll get those into that special episode.
2:39.0	You can ask any question you want on the speak pipe, but the disability insurance ones I'm going to save up for that episode, which will probably run in June.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Dr. Jim Dahle of the White Coat Investor, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Dr. Jim Dahle of the White Coat Investor and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.