As your medical career progresses, your income will likely grow, and your disability insurance should be able to grow with it.
In this video, Amber Stitt, co-owner of MD Disability Quotes, explains the difference between Future Purchase Options (FPO) and Benefit Update riders, two important policy features that allow physicians to increase disability insurance coverage without full medical underwriting.
Whether you’re a resident, fellow, or attending physician, understanding how these increase options work can help you protect your future earning potential as your salary changes.
Amber explains how Future Purchase Options typically allow annual opportunities to increase benefits, while Benefit Update riders generally offer review periods every three years, along with certain qualifying events that may accelerate eligibility.
She also discusses why maintaining eligibility requirements is important for preserving these valuable policy features.
What You Will Learn:
• What a Future Purchase Option (FPO) rider is
• How Future Purchase Options help physicians increase disability insurance coverage
• What a Benefit Update rider is and how it works
• The differences between Future Purchase Options and Benefit Updates
• When you may qualify to increase your monthly disability benefit
• How income growth and career changes may accelerate eligibility
• Why maintaining eligibility requirements helps preserve future increase options
• How these riders can help protect your income throughout your medical career
Chapters:
0:00 Introduction to Future Purchase Options & Benefit Updates
0:04 How Future Purchase Options Work
0:27 Cost of Future Purchase Options
0:40 Understanding Benefit Update Riders
0:59 Income Reviews and Eligibility Requirements
1:15 Events That May Accelerate Benefit Increases
1:39 Contact MD Disability Quotes
For more information about disability insurance head over to: https://mddisabilityquotes.com
If you are interested in getting a quote you can do that here: https://mddisabilityquotes.com/get-a-…
