Our team specializes in helping physicians secure disability insurance that not only covers them at a reasonable price, but also grows with them as they continue on in their field.
Long Term Disability Policy
Overview
Definition of Policy
Insurance against loss of income due to partial or total disability
General Cost
Ranging between 1% to 3% of your Gross Income
Benefit Maximums
Ranges between 45% - 65% of Gross Income
Partial Disability
Following a debilitating illness or injury - you are unabile to perform some of the substantial and material duties of your occupation at the onset of disability.
Total and Permanent Disability(TPD)
Renders the disabled person unable to work in their occupation and depending on policy language may also be unable to fulfill the duties of any occupation, considering their training, eduation, experience, and their financial station in life.
Base Policy Elements
Benefit Period
The maximum length of time the insurance company will pay monthly benefits for a disability.
Waiting Period
The period immediately following the start of a disability during which benefits do not accrue.
Monthly Benefit
The amount paid by the insurance company as monthly income benefits.
Essential Policy Riders
Own Occupation
Provides for a benefit to be paid if the insured has a condition caused by sickness or injury in which the insured cannot perform the main duties of their current occupation, even if they are able to work in another occupation.
Extended Partial
Provides for payment of benefits if the insured is partially disabled as defined in the rider.
Future Increase Coverage
Provides the opportunity to apply for certain additional benefits during the option periods without proof of the insured’s good health or the nature of their occupation.
Our Commitment to You
We believe in providing our physician clients with the best service possible, which means working with some of the best insurance companies. Our team works with highly esteemed insurance companies, including: