WCI #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

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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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

If you’re like most doctors, nobody taught you anything about personal finance or investing during your undergrad, professional school, or residency. And even though your family - and perhaps even your business - rely on you to be the Chief Financial Officer, you have never been given the tools to succeed. Enroll in WCI Financial Boot Camp, a FREE educational email series, and learn to convert your high income to wealth. You will learn the basics of investing, saving, insurance, and more. Your high income alone will not lead to financial success, but as always, we want to help you on your financial journey. Go to https://www.whitecoatinvestor.com/financialbootcamp to sign up today! You can do this and The White Coat Investor can help.

The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

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Transcript

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0:00.0	This is the White Coat Investor Podcast, where we help those who wear the white coat 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.
0:15.0	This is White Coat Investor Podcast
0:20.0	Number 155, above policy limits judgments.
0:23.0	Welcome back to the White Code Investor Podcast.
0:25.0	We're glad you're here.
0:27.0	If you're like most doctors, nobody taught you anything about personal finance or investing
0:31.0	during your undergrad, professional school, or residency.
0:34.7	Even though your family and perhaps even your business rely on you to be the chief financial officer,
0:39.5	you have never been given the tools to succeed. Enroll in WCI Financial Boot Camp, a free educational email series
0:47.0	and learn to convert your high income to wealth.
0:50.0	You will learn the basics of investing, saving, insurance, and more.
0:53.2	Your high income alone will not lead to financial success, but as always, we want to help you
0:57.9	on your financial journey.
0:59.1	Go to whitecode investor.com slash financial boot camp to sign up today. You can do this and the
1:04.7	white code investor can help. All right, our quote of the day today comes from
1:08.1	John Templeton. Said the four most dangerous words in investing are, this time
1:12.4	it's different. Because this time it's different because every time
1:14.3	there's a market downturn it feels different than the previous ones and there are
1:19.2	aspects that are unique every bare market is unique you know what? They all end the same way with the recovery.
1:26.4	And most importantly, they all end. So stay the course. You can do it.
	...

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