In a recent White Coat Investor article titled, “Planning to Retire? Exit Strategies for Physician Private Practice,” Craig Toberman, CFA, CPA, CFP®, Partner at Toberman Becker Wealth, shares essential retirement planning advice for private-practice physicians.
As a featured expert, Max Schloemann, CEO of MEDPLI and experienced medical malpractice insurance broker, emphasized the critical–but often overlooked–role of tail insurance in a physician’s retirement plan.
Plan Ahead & Budget for Tail Insurance
Tail insurance protects physicians from malpractice claims after their policy ends. It is often triggered by retirement or selling a practice, yet it is frequently left out of the retirement equation.
Schloemann warns:
“Tail coverage can cost upwards of 200% of your annual premium. Without proper planning, it can delay retirement or strain your finances.”
Work With an Experienced Malpractice Broker
An experienced medical malpractice broker can help you:
These steps ensure your retirement is shielded from post-practice liability and make your practice more attractive to potential buyers.
Protect Your Practice Sale & Retirement Savings
If you plan to sell your practice, ensure all malpractice claims are handled beforehand to prevent costly delays and premiums. Comprehensive tail coverage shifts liability to your insurer—and away from the savings you’ve built—so you can confidently retire.
Don’t wait—it’s essential to start planning early!
MEDPLI can help you plan and find your budget’s most comprehensive tail coverage. Contact MEDPLI today to schedule your free consultation and get a tailored insurance quote.
