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News & Press Releases
Find up-to-the-minute news, physician research and AMA Insurance press releases here.
The Essentials for PhysiciansSM program provides customizable income protection coverage tailored to young physicians
CHICAGO, January 25, 2017 –AMA Insurance Agency, Inc., a subsidiary of the American Medical Association (AMA), today introduced a new disability product as part of the Essentials for Physicians program, a specialized program designed to meet the specific financial needs of young physicians.
CHICAGO—(January 12, 2017) – AMA Insurance Agency, Inc., a subsidiary of the American Medical Association (AMA), today introduced a new disability insurance program designed to meet the unique income-protection needs of physicians. The individual disability income insurance product offered through the AMA Insurance program is underwritten by The Ohio National Life Assurance Company, Inc. (ONLAC), a subsidiary of Ohio National Financial Services.*
Millennium Brokerage Group, AMA Insurance sponsor 2016 Physicians Financial Summit to address physicians’ top financial concern–having enough money for retirement
CHICAGO—(January 25, 2016) – Extensive research1 conducted by AMA Insurance has uncovered key financial issues facing today’s physicians, including their top concern of having enough money for retirement. In an ongoing commitment to address these issues through education, AMA Insurance has joined with Millennium Brokerage Group (MBG), a member of its Physicians Financial Partners Program, to sponsor the inaugural 2016 Physicians Financial Summit May 1-4 in Orlando, FL, focused on building and executing a solid retirement plan.
AMA Insurance releases comprehensive profile of U.S. physicians under age 40
CHICAGO—(October 20, 2015) – U.S. physicians under the age of 40 can begin their careers with a 10-year financial deficit1 compared to their undergraduate peers in other professions.
By: Jared Kaltwasser, MD Magazine
Everyone wants to be financially secure, but many fall short of that goal. Study after study shows millions of Americans are far behind their retirement savings goals, including many people in middle and upper-middle income brackets.
New AMA Insurance national report spotlights sharp differences between ‘financially prepared’ women physicians and those who are not
New report from AMA Insurance finds 53 percent of women physicians ahead or on track for top goal - retirement savings
CHICAGO (April 8, 2015) – Women are playing an increasingly prominent role in the medical profession. More than one-third of today’s U.S. physicians are women, and in the age forty and under group, 49 percent are women.* They all face the same personal financial challenges unique to their profession, with a healthy retirement at the top of the list of financial concerns. AMA Insurance’s newly released national study, the 2015 Report on U.S. Physicians’ Financial Preparedness: Women Physicians Segment © offers good news in that regard – 53 percent of the surveyed women physicians of all ages report that they are ‘ahead of schedule’ or ‘on-track’ with their retirement savings. In fact, one quarter of women physicians have more than $1,000,000 saved for retirement, including 4 percent who have more than $3,000,000 saved.
CHICAGO (September 16, 2014) - A new, in-depth report from AMA Insurance shows that employed physicians, now comprising 59 percent of all American physicians, have their own set of personal financial challenges, in part due to their employment status. The 2014 Report on U.S. Physicians' Financial Preparedness: Segment Focus on Employed Physicians not only tracks their concerns about retirement savings and other key personal financial areas, but also checks the status of their employee insurance protection and points up their new key concern: funding long term care expenses.
Physicians Financial Partners, a program offered through AMA Insurance, is pleased to introduce physicians to SelectQuote, for comparison shopping of highly-rated auto, home and term life insurance companies.
Fifty-one (51) percent of physicians over age 60 graduated from medical school with debt. Now 73 percent of physicians under age 40 have student loan debt. And nearly half of these young physicians carry a debt of $150,000-200,000 – with 83 percent still paying off their loans. These statistics form a partial profile of physicians today. They also point up a difference by age, one of many that emerge in AMA Insurance's newly released 2014 Work/Life Profiles of Today's U.S. Physician. The in-depth report paints a highly dimensional picture of physicians’ work and lifestyles, and shows some distinct differences between physicians under age 40, ages 40-59, and 60-69. Report findings were compiled from a national survey conducted by AMA Insurance in October 2013.