Family Medicine Residency Leadership Information

The Family Medicine Career

Across the United States, the American Academy of Family Physicians (AAFP) represents about 130,000 family physicians, residents, and medical students¹. This membership includes roughly 15,900 family medicine residents and 20,000 medical student members pursuing formal training in family medicine². Collectively, these residents and students constitute more than 35,000 future family physicians, representing a substantial portion of the nation’s primary care workforce pipeline³. Their preparation reflects not only a rigorous academic undertaking, but a deliberate commitment to service, continuity of care, and patient advocacy—values that family medicine residency leaders cultivate through mentorship and stewardship. In partnering with residency programs nationwide, Parkes Financial recognizes that protecting this workforce is inseparable from honoring the devotion required to enter and sustain a career in family medicine.

25% of Physicians Will Experience a Long-Term Disability Lasting 2.5-3 Years
90% of Long-Term Disabilities Are Caused by Sickness

During their working careers, a significant share of these physician trainees will experience illness or injury that affects their ability to practice medicine. This reality carries profound implications.

If all of these future family physicians were adequately covered by individual disability income insurance throughout their careers, existing actuarial and government data indicate that approximately one‑quarter—25 percent—will experience a disabling illness or injury at some point during their working lives⁷⁻⁸. Importantly, nearly 90 percent of long‑term disabilities are caused by illness rather than injury, with musculoskeletal conditions, cancer, cardiovascular disease, and mental health disorders accounting for the majority of claims⁹. These realities are why Parkes Financial emphasizes education and early access to high-quality disability income insurance coverage.

For Those Who Do Experience a Disability, 20%-25% Will Be Impacted Longer Than 5 Years

For individuals whose disability extends beyond a standard 90‑day elimination period, the average long‑term disability episode lasts approximately 2½ to 3 years¹⁰⁻¹¹. Among physicians and other professional‑class, own‑occupation insureds, an estimated 20–25 percent of long‑term disability claims persist five years or longer, reflecting the longer‑tail nature of illness‑driven disability in high‑skill professions¹⁰⁻¹³. These extended durations are most commonly associated with cancer, cardiovascular disease, chronic musculoskeletal disorders, and mental health conditions—diagnoses that disproportionately affect physicians and often result in prolonged or career‑altering limitations. From the perspective of residency leadership and their stewardship for their resident trainees, these figures reinforce why proactive protection has implications not only for individual physicians, their families, and those who depend on them, but also for workforce stability and continuity of patient care.

Workforce Impact From Long-Term Disability

Translated into workforce impact, an average disability duration of 2½ to 3 years corresponds to approximately 5,000 to 6,000 hours of work lost per affected physician, assuming a standard full‑time workload of roughly 2,000 hours per year¹⁰⁻¹¹. When applied to the approximately 8,000–9,000 family physicians within this cohort who can reasonably be expected to experience a career‑impacting disability⁷⁻⁸, this translates into tens of millions of clinical work hours lost over time. These losses affect not only individual physicians but also teaching clinics, residency programs, and the communities that rely on the continuity and accessibility of family‑centered care. Parkes Financial works closely with residency leaders who understand that sustaining the workforce is inseparable from protecting the people who make it possible.

Group Disability Insurance is Good But, Could Be Insufficient

While many physicians will have access to employer‑sponsored group disability insurance at some point during their careers, these plans often leave physicians exposed to significantly greater financial risk than is commonly assumed¹²⁻¹⁴. Group disability policies are typically governed by federal ERISA rules, impose benefit caps that disproportionately affect higher‑earning physicians, frequently transition from an “own‑occupation” to an “any‑occupation” definition after a limited duration, and may result in taxable benefit payments that materially reduce net income replacement¹³⁻¹⁶. By contrast, high‑quality individual disability income insurance is contractually guaranteed, portable across employers, and designed to help protect a physician’s specialty‑specific earning capacity over the full duration of a career‑impacting disability.

~33% of Physicians Who Apply for Individual Disability Protection Will Be Declined, Rated, or Have Permanent Exclusions in Their Contract

Additionally, industry and workforce analyses indicate that roughly one‑third will, at some point, encounter underwriting obstacles when applying for individual disability income insurance—ranging from premium ratings and targeted policy exclusions to hard declines due to medical history, circumstances in which vital individual coverage is either limited or no longer available under traditional underwriting standards⁴⁻⁶. For residency leaders who invest deeply in their trainees’ development and long‑term well‑being, these risks are not abstract challenges faced by hypothetical physicians. Parkes Financial approaches this reality with the recognition that such outcomes have much to do with the inherent unpredictability of health across a demanding career devoted to serving others, and that the financial risk associated with disability can be significantly mitigated through foresight, education, and informed planning.

Parkes Financial Works with Residency Leadership to Help Deliver Equitable, Sustainable Guaranteed Disability Protection For All

In this context, Parkes Financial—through its ability to deliver Guardian’s Guaranteed Issue Disability Income Insurance offering to family medicine residency programs—provides a mission‑aligned and structurally sound solution. This program enables eligible physicians, including those who may later face limited insurability, to obtain a 100 percent clean, non‑cancellable, guaranteed‑renewable individual contract with strong specialty specific own‑occupation protections, without medical underwriting at the time of enrollment¹⁷⁻¹⁹. Offering this protection through residency programs reflects prudent financial planning and a shared commitment between residency leadership and Parkes Financial to safeguard resident physicians and the communities they will serve throughout their careers.

A Sincere Invitation

We welcome the opportunity to meet and show how seamlessly this benefit can be integrated into your program.  Our team manages the process with professionalism, simplicity, and alignment with your mission—at no cost to your residency program.  As insurance professionals, we’ve been deeply impacted by the care and commitment of medical providers, and we see this as a meaningful way to give back.

Thank you for your leadership and dedication to shaping the future of family medicine. It would be a privilege to support your residents and students with a benefit that can truly make a difference. Please click the button below to schedule an introductory conversation.

Footnotes (Complete and Cataloged)

1. American Academy of Family Physicians. AAFP Welcomes Jen Brull, MD, FAAFP, as New President. PR Newswire. September 25, 2024.
2. American Academy of Family Physicians. AAFP Membership Category Table (2026).
3. Mitchell D. Match Day 2025: Family Medicine Sets Another Milestone. AAFP News / Annals of Family Medicine.
4. Nouri Z, Dill MJ, Conrad SS, et al. Estimated Prevalence of U.S. Physicians With Disabilities. JAMA Network Open. 2021.
5. Kittner M. How Often Do Physicians Get Disabled (And Why). Money Meets Medicine.
6. Fleischner JK. Underwriting Pressures Changing Medical Resident Disability Insurance Applications. Income Protection Journal.
7. Social Security Administration. Annual Statistical Report on the SSDI Program.
8. Council for Disability Awareness. Disability Risk Statistics.
9. Council for Disability Income Awareness. Long‑Term Disability Claim Cause Studies.
10. Social Security Administration. Disability Duration and Risk Calculator Data.
11. Council for Disability Awareness. Long‑Duration Disability Statistics.
12. LegalClarity. Group Disability Insurance: Coverage, Claims, and ERISA. 2026.
13. Garner LTD. ERISA Disability Claims for Physicians.
14. DisabilitySecrets; Physicians Thrive. ERISA Group Disability Insurance Explained.
15. Internal Revenue Service. Life and Disability Insurance Proceeds.
16. Thrivent; LegalClarity. Taxation of Group Disability Benefits.
17. Guardian Life. Disability Insurance Guide for Physicians.
18. LeverageRx. Guardian Physician Disability Insurance Review (2026).
19. InsuranceMD. Guardian Physician Disability Insurance: Own‑Specialty Coverage.

This material is provided for educational purposes only and is not intended to provide individualized advice. Please contact us to discuss your specific situation. Securities products and services offered through Park Avenue Securities LLC (PAS), member FINRA, / SIPC. OSJ: 2875 Michelle Dr. Suite 110 Irvine, CA 92606, 909-399-1100. PAS is a wholly owned subsidiary of The Guardian Life Insurance Company of America® (Guardian), New York, NY. Parkes Financial is not an affiliate or subsidiary of PAS or Guardian. 8891681.3 Exp 5/28