Not all COLA riders are made the same.
-Some are 3% simple interest (Ameritas and OhioNational have this)
-Some are 3% compounding interest (Guardian, MassMutual and Standard have this)
-Some are 6% compounding interest (most let you select this if you want to)
-Some are floating 0-3% compounding interest (Principal is compounding but floats)
-Some are 0-6% or 2-6% compounding interest (Ameritas and OhioNational have this version)
Please let us know if you have specific questions on these elements and/or would like a review of your current plan. 🕛 To schedule your consultation, please click here: https://mddisabilityquotes.com/schedule-a-meeting
☑️General Overview of Own Occupation Contracts What is Own Occupation? Mini Video When should you buy this plan? When Should You Buy? Mini Video
☑️Who should you buy these plans from? Who to Buy Own Occupation From? Mini Video
☑️Select your Contract Type What Type of Contract is best for You? Mini Video
☑️Residual Disability Riders Do You Need A Residual Rider and Which Type is Best for You?
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🚀 Tools and resources we recommend:
⚡️FREE Physician Resources: https://mddisabilityquotes.com/resources-to-download
⚡️FREE Physician’s Guide to Disability Insurance: https://mddisabilityquotes.com/physicians-guide
⚡️How Future Purchase Options Work: https://mddisabilityquotes.com/future-purchase-option
***🔅 Let’s connect at Instagram for more education and business strategies on how to build your personal risk management process! @md_disability & @amberstitt_ ***
👍🏽Recommended Resources for specific specialties:
☑️Resources for Dentists: https://mddisabilityquotes.com/dentists
☑️Resources for Federal Employees: https://mddisabilityquotes.com/federal-employees
☑️Resources for Females: https://mddisabilityquotes.com/females
☑️Resources for Residents and Fellows: https://mddisabilityquotes.com/mds-and-dos-resident-limits
☑️Resources for Optometrists: https://mddisabilityquotes.com/optometrists
☑️ Resources for Podiatrists: https://mddisabilityquotes.com/podiatrists
☑️Resources for Veterinarians: https://mddisabilityquotes.com/veterinarian
☑️Resources for Physicians in the Military: https://mddisabilityquotes.com/physicians-in-the-military
Thank you so much for stopping by today!
What You Will Learn:
• What the Cost of Living Adjustment (COLA) rider is
• How COLA benefits are calculated using the CPI-U
• When COLA benefit increases begin during a disability claim
• Why inflation protection matters for long-term disability
• The financial tradeoff between buying a COLA rider versus purchasing more monthly benefit
• Why claim duration is an important consideration when evaluating COLA
• Key factors physicians should consider when selecting disability insurance riders
Chapters:
0:00 Introduction to the COLA Rider
0:05 What Is a Cost of Living Adjustment (COLA)?
0:21 How the COLA Rider Increases Benefits During a Claim
0:38 Buying More Coverage vs. Purchasing the COLA Rider
0:56 Why Claim Duration Matters When Evaluating COLA
1:08 Final Thoughts and Contact Information