Guardian vs. Principal Disability Insurance for Physicians (2026)
Guardian and Principal side by side, using only what each company publishes: the own-occupation definition, partial disability, resident offers, and financial strength. Where one of them is silent, we say so.
On This Page
In this guide
Helpful Resources
- Term Life Insurance for Physicians (2026): How Much You Actually Need, What Length to Buy, and the Best Carriers by Career Stage
- MassMutual Disability Insurance Review for Physicians (2026)
- Ameritas Disability Insurance Review for Physicians (2026)
- Ohio National Disability Insurance: Can You Still Buy It?
Ask about this guide
Key takeaways
- •Guardian publishes far more of its contract than Principal. On paper, that makes Guardian the stronger documented choice.
- •For surgeons, Guardian’s income test is the deciding feature: more than half your income from procedures, and you can’t operate, means totally disabled.
- •Principal offers a true own-occupation option and an enhanced residual definition but doesn’t publish the wording of either.
- •Neither publishes premiums. Price can only be settled with matched quotes.
Guardian and Principal are the two carriers physicians most often end up choosing between. This comparison uses only what each company publishes on its own site, read September 23, 2026, plus AM Best’s ratings. An earlier version of this page gave premium ranges and said Principal was structurally cheaper for women physicians. Neither company publishes premiums, and we couldn’t source those claims, so we removed them.
Guardian vs. Principal, side by side
| Term | Guardian | Principal |
|---|---|---|
| Product | Guardian individual disability income insurance (policy form 18PG) | Income Protector (all states except California and New York); DI Series 700 in California and New York |
| Total disability | Enhanced True Own-Occupation, for MDs and DOs only. You are totally disabled if more than 50% of your income came from hands-on patient care or from surgical procedures and you can no longer do that work. If you don’t qualify that way, Guardian looks at the key duties of your medical specialty. | Two options: “own occupation” and “true own occupation,” with a specialty own-occupation definition. Principal’s page names the options but doesn’t publish the wording. |
| Pays if you work elsewhere | Yes. Full benefits whether or not you work elsewhere, including in your own practice. | Under the true own-occupation option, per its name; the wording isn’t public. |
| Residual | Enhanced Partial Disability rider: pays on a loss of income of 15% or more. For the first 12 months it pays your actual loss of income, up to 100% of the benefit. After recovery it keeps paying while your income loss is at least 15%. A basic partial rider is also offered. | An “enhanced residual disability definition”; the trigger isn’t published. |
| Future increases | Future Increase Option: increase coverage every year through age 55 without medical underwriting. Guardian doesn’t publish the maximum increase. | Two future increase riders, annual and event-driven; amounts and ages not published. |
| Cost of living | A COLA rider indexed to CPI or a fixed percentage; rates not published. The Enhanced Catastrophic rider includes a 3% compound COLA. | Not published |
| Mental and nervous | Not published | A Mental/Nervous Substance Abuse rider earns up to a 10% discount on Series 700; the limit it imposes isn’t published. |
| Discounts | A residency discount that carries into coverage after training; percentage not published. | Series 700: 10% affiliation, 10% select occupation, 20% multi-life, 10% association; not all stack. |
| Residents | Special guaranteed standard issue offer: up to $8,000 a month with no medical questions or exams. | Not published |
| AM Best | A++ (Superior), affirmed September 12, 2025, including Berkshire Life | A+ (Superior), affirmed April 28, 2026 |
| Company | Mutual company (Guardian); the issuing subsidiary is a stock company | Stock company, publicly traded since 2001 |
- Guardian
- Guardian individual disability income insurance (policy form 18PG)
- Principal
- Income Protector (all states except California and New York); DI Series 700 in California and New York
- Guardian
- Enhanced True Own-Occupation, for MDs and DOs only. You are totally disabled if more than 50% of your income came from hands-on patient care or from surgical procedures and you can no longer do that work. If you don’t qualify that way, Guardian looks at the key duties of your medical specialty.
- Principal
- Two options: “own occupation” and “true own occupation,” with a specialty own-occupation definition. Principal’s page names the options but doesn’t publish the wording.
- Guardian
- Yes. Full benefits whether or not you work elsewhere, including in your own practice.
- Principal
- Under the true own-occupation option, per its name; the wording isn’t public.
- Guardian
- Enhanced Partial Disability rider: pays on a loss of income of 15% or more. For the first 12 months it pays your actual loss of income, up to 100% of the benefit. After recovery it keeps paying while your income loss is at least 15%. A basic partial rider is also offered.
- Principal
- An “enhanced residual disability definition”; the trigger isn’t published.
- Guardian
- Future Increase Option: increase coverage every year through age 55 without medical underwriting. Guardian doesn’t publish the maximum increase.
- Principal
- Two future increase riders, annual and event-driven; amounts and ages not published.
- Guardian
- A COLA rider indexed to CPI or a fixed percentage; rates not published. The Enhanced Catastrophic rider includes a 3% compound COLA.
- Principal
- Not published
- Guardian
- Not published
- Principal
- A Mental/Nervous Substance Abuse rider earns up to a 10% discount on Series 700; the limit it imposes isn’t published.
- Guardian
- A residency discount that carries into coverage after training; percentage not published.
- Principal
- Series 700: 10% affiliation, 10% select occupation, 20% multi-life, 10% association; not all stack.
- Guardian
- Special guaranteed standard issue offer: up to $8,000 a month with no medical questions or exams.
- Principal
- Not published
- Guardian
- A++ (Superior), affirmed September 12, 2025, including Berkshire Life
- Principal
- A+ (Superior), affirmed April 28, 2026
- Guardian
- Mutual company (Guardian); the issuing subsidiary is a stock company
- Principal
- Stock company, publicly traded since 2001
Each company’s own website, read September 23, 2026; ratings from AM Best releases. “Not published” means the company’s public material is silent.
The definition of disability
This is where the two differ most, at least on paper. Guardian’s Enhanced True Own-Occupation definition, for MDs and DOs, starts with a source-of-earnings test. If more than 50% of your income came from hands-on patient care or from surgical procedures and you can no longer do that work, you are totally disabled. If that test doesn’t apply, Guardian looks at the key duties of your specialty. Either way you can work elsewhere, including in your own practice, and keep full benefits.
Principal lists two options, “own occupation” and “true own occupation,” and a specialty own-occupation definition. It doesn’t publish the wording. If you are comparing the two, ask Principal for the true own-occupation definition in writing and confirm it pays while you work in another occupation. Our own-occupation guide shows the phrases to look for.
Partial disability
Guardian’s enhanced partial disability rider pays when you lose 15% or more of your income, pays your actual loss up to the full benefit for the first 12 months, and keeps paying after you return to full-time work while the loss is at least 15%. Principal advertises an “enhanced residual disability definition” without publishing the trigger. Ask for it; 15% and 20% are the common thresholds among carriers that publish theirs. Our guide to how residual disability benefits are calculated walks through these thresholds.
Residents
Guardian publishes a Special GSI offer of up to $8,000 a month for residents with no medical questions or exams, and a residency discount that carries into coverage after training. Principal’s product pages don’t describe a resident offer. Many residency programs have a guaranteed standard issue arrangement with one carrier; ask yours which, since that offer may outweigh everything else on this page.
Price
Neither company publishes premiums for fully underwritten policies. Price depends on age, sex, state, specialty class, benefit amount, and riders, so the only honest comparison is two quotes with the same design. Ask for each with and without the own-occupation and residual riders, so you can see what each feature costs.
Which to choose
- •Surgeons and proceduralists: start with Guardian. Its income test fits how proceduralists earn, and it is in writing.
- •Residents: Guardian publishes the larger guaranteed offer. Check your program’s GSI carrier first.
- •If Principal quotes lower: get Principal’s true own-occupation definition, residual trigger, and mental health terms in writing before you decide. A lower premium for a weaker contract is not a saving.
- •Mental health coverage matters to you: neither publishes its terms. Ameritas publishes a full-benefit-period option; see the five-carrier comparison.
Frequently asked questions
Is Guardian or Principal better for physicians?
Guardian vs. Principal for surgeons?
Is Principal cheaper than Guardian?
Which has the better financial strength rating?
Which is better for residents?
Sources
- •Guardian: disability insurance for physicians
- •Guardian: disability insurance riders
- •Guardian: coverage for medical residents
- •Guardian: protection for physician practice owners (form 18PG)
- •AM Best, via Business Wire, September 12, 2025
- •Principal: Income Protector
- •Principal: DI Series 700 and California
- •AM Best, via Business Wire, April 28, 2026
Read September 23, 2026.
Publisher’s note: This comparison is for educational purposes and is not insurance or financial advice. Terms are each company’s published terms as of September 23, 2026; provisions vary by state, and the policy you are issued governs. See our advertising disclosure.
About the Author
Joshua Dunigan, DO | Family Medicine Resident & Founder
I'm a family medicine resident physician in Des Moines, Iowa (class of 2027). I founded MedMoneyGuide to give physicians specialty-specific financial guidance, with sources you can check.