Female Residents: Unisex Rates are Ending Soon!
It’s official: Mass Mutual is leaving the unisex rate business for residents effective August 24, 2019. Blended rates can save approximately $70/month if you are in your 30s and up to $200 a month if you are in your 40s. These discounts can save you over $75,000 through your practice years. Here are important dates […]
Coverage without lab work?
If you are in the market for physician disability insurance, you need to be aware of Principal’s just-released, new guidelines. Do you meet the following three criteria? If so, then you can buy up to your max benefit based on financial qualification without any lab work! How easy is that process? Contact us today and […]
Attention business owners– this blog is for you!
Have you ever given any thought to what may happen to your business if you were to suddenly become disabled? You’ve invested too much of your blood, sweat, and tears into your company to let it falter because of an unexpected illness or disability. This is why it is a good idea for you to […]
Future Increase Option Rider Explained
The Future Increase Option Rider is a favorite for medical residents and fellows who are just beginning their training. It allows them to purchase a smaller, cheaper policy with the option to increase their disability benefit as their income begins to increase. This means that after they are finished with training, they’ll be able to […]
Principal Disability: Easier Underwriting for Graduating Medical Residents
Principal is currently offering a new medical resident program that is designed exclusively for residents who need their individual disability to keep up with their growing income once they begin work or sign an employment contract. This program allows you to apply for a higher benefit amount with no lab requirements. This opportunity is for […]
What happens when you lose your income due to a disabling event?
Protecting your income is an important part of maintaining your financial security. If you think about it, we protect our homes and cars with insurance. Why not protect our income as well? Think about what your income is used for. Not only do we use our income to pay for day-to-day needs, we use our […]
The Non-disabling Feature of a Disability Insurance Policy
A basic Ameritas disability insurance plan provides many important built-in features at no additional cost to you. One of my favorite, and I believe under-discussed, is the nondisabling injury feature. I don’t believe many – if any – DI carriers have a comparable feature. A noteworthy aspect of a nondisabling injury feature is that it […]
Which carrier should you apply with?
Sometimes cost and benefit product design are not the only contributing factors when deciding which carrier to apply with. Disability and life insurance carriers each have their own set of underwriting guidelines. Therefore, some are more favorable on certain criteria than another carrier might be. For example, a carrier might be more lenient on an […]
Is laddering term life coverage something you should consider?
I came upon this insurance concept recently and it really intrigued me. The idea is to stack multiple, smaller term life policies that have various term periods which expire at different times. Benefits of laddering term coverage As you reduce your debt and build your wealth, your need for coverage may diminish over time. Laddering […]
Three options for when you reach the end of your term life policy
policy. When you buy term insurance, you purchase a defined amount of coverage for a premium that is guaranteed not to change for a fixed term period of time. Should you keep that 10, 20, or 30- year term policy in-force past its fixed term period your normal premium rates will increase pretty dramatically (usually […]
Perks in your disability contract – even if you don’t have a disability
that client just received a check for $2,840 – about 2x their annual premium – and he did not even have a disability. Ameritas has a feature in their disability contract that I think a lot of policyholders tend to forget about. The feature is the “Treatment of Non-Disabling Injuries”. Under this provision you do […]
How We Saved 30% Because of Our Long-Term Relationship With a Carrier
Recently, I was assigned a new life insurance case to be placed with Lincoln National. Like usual, I applied for the LifeElements product without knowing there had been a new product released to the market a week earlier, TermAccel. Lincoln’s TermAccel product is geared towards giving younger (up to age 60) clients the coverage they […]