Physicians Needing Own Occupation Now Have More Options When Shopping for Their Coverage
When shopping for Own Occupation coverage to protect your specialty, it is important to learn about all options that are available to you as well as paying attention to the price-per-dollar of coverage. This is why we wanted to make you aware of product changes at Guardian. A quick disclaimer as we begin, to let […]
Case Study: An Active Duty Physician Was Declined for Coverage Due to Diving Stipend
Did you know that military physicians have different guidelines when it comes to buying disability insurance? The guidelines can often be confusing which is where we can help. This article will walk you through a quick overview of how this works and if you want a bird’s eye view, please visit our Military Physician resource […]
Understanding Terminal Illness Riders in Life Insurance Contracts: A Guide for Physicians
A Terminal Illness Rider is a living benefit included in many life insurance policies that may allow you to access a portion of your death benefit while you’re still living if you’re diagnosed with a qualifying terminal illness. The amount received is generally deducted from the policy’s death benefit, reducing what is ultimately paid to […]
How Mental/Nervous Coverage Affects Physician Disability Insurance
Mental/Nervous coverage can often be misunderstood inside an individual disability insurance policy. Some policies provide benefits for qualifying mental health disabilities through the full benefit period, while others offer the option to limit Mental/Nervous benefits to 24 months in exchange for a reduced premium. Understanding this provision before purchasing coverage can help physicians make more […]
Non-Traditional Family Planning Is On the Rise: 3 Steps to Get Your Family Prepared
Thankfully, in the last few decades, society has become a much more tolerant place for unconventional family arrangements. As more and more people begin to live in a way that suits them best, non-traditional family planning is rising. If your family is one of the many non-traditional family arrangements in the USA, it’s essential to […]
Are there Disability Insurance discounts after training? The Resident Discount Myth
Every June, we have a transition of graduates – either those from medical school going to training or those who have been training and are now heading to practice. Also around this time, we see people doing a mad dash to buy their disability insurance by June 30th. This deadline date, however, is a myth […]
Fertility and your Insurance Offers
Any individual can face challenges to have a family. No matter what race, religion, sexuality or economic status you are, infertility doesn’t discriminate. The private insurance carriers are allowed to though as well as some group insurers. The purpose of this blog is to not only honor #NationalInfertilityWeek but to spread awareness in regards to […]
Does Your Private Disability Policy Eliminate Your Employers’ Group Disability plan?
This week we had a call with an attorney who had a client going through the claims process from a disabling event. This attorney had some questions on his client’s disability policy and the current employer group plan, which paid him 60% of his pay; not to exceed $15,000 per month of benefit. This is […]
Own Occupation Insurance: 6 Ways to Save on your Private Disability Income Insurance Plan
These are tips that you can consider at time of application or anytime – even if you had had a plan in place for years. 1) Buying at the youngest age and while in a residency or fellowship program is always going to link you to the most in discounts. If you are still shopping […]
If the COVID vaccine causes an injury, will your disability plan cover your inability to practice?
The definition of your contract drives everything, so knowing what type of definition you have is paramount. We have mentioned in the past how holding an annual review with your broker/agent to cover all of your policies is important, as a good habit to get into each year. It is good to revisit your overall […]
Disability Insurance Pre -Screen: Case Study regarding Vyvanse, Dexedrine, Toprol-XL
Applying for life & disability insurance can be a fast and relatively easy process, but what if you have a medical issue and are filling prescriptions for that condition? Medical issues can cause additional time in underwriting and might affect your ability to get coverage. In addition, this can cause mark-ups in premium costs and […]
What is a Unisex Rate and What does it mean to You?
For about a decade now, each carrier has slowly removed unisex rates from the marketplace and while discounts for residents/fellows (MDs and DOs primarily) still apply, all of the “Big Six” carriers will have transitioned from gender neutral/blended rates to a gender specific rate, also known as a gender distinct pricing by January 1st, 2021. […]