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. […]
Updated COVID Guidelines: 4 Reasons your Insurance Application may be delayed
We have many inquiries from clients about the protocol now in a post-COVID environment. Due to the influx of questions, we wanted to communicate a list of steps to help you identify what may be required of you before proceeding with an application; if you have been exposed or could have been. Insurance carriers will […]
Is the Guardian definition of disability the Best Physician Contract due to the 50% rule?
First, let’s start with what their Choice contract states: Total Disability Definition: Enhanced True Own Occupation – You will be totally disabled if, solely due to injury or sickness, you are unable to perform the material and substantial duties of your occupation. As long as you are totally disabled, benefits will not be reduced even […]
Revised Underwriting Guidelines for Exams and Labs Due to COVID-19
COVID-19 causing changes to Principal’s underwriting guidelines for exams and labs, as well as needed tax information. Effective immediately, the individual disability insurance (IDI) underwriting department at Principal® is changing underwriting guidelines for exams and labs. These changes will be effective through May 31 and will be revisited regularly as the pandemic news unfolds. Labs […]
Life Insurance Carriers Starting to Adjust Their Policy Deliveries
We were notified this week that some carriers are going to start including the following language in the delivery requirements (to be signed upon receipt of a new policy) which will preclude many hospital workers from obtaining a policy: “I have not exhibited signs of respiratory distress, fever, been self isolating under medical advice or […]
Pruco Life Temporarily Pulling Their 30-Year Term
Pruco Life (also known as Prudential) officially announced that as of April 13th 2020, they are temporarily pulling their 30-year term and single pay GUL products from the market. This is due to the low interest rate environment and the fear that they cannot find the investment yield they need to support that product over […]
Small Business Interruption Loans under the CARES Act
The Small Business Interruption Loans under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) begins this week. Learn the details below. What is this Program? Under the Senate bill (which the House has passed but has not been signed into law as of the original posting of this document on 3/27/20), the federal […]