Disability Income For Medical Professionals With Adverse Medical History
Medical professionals spend a lot of time and money advancing their careers and thus recognize the need for Disability Insurance. In order to address the needs of this target market, we specialize in providing coverage for those clients regardless of adverse medical, financial and personal history.
DI Case Study Example
- General Surgeon – 4A Occ Class
- Age 41| $300,000 income
Although the client was diagnosed with type-1 diabetes two years ago, is insulin stable and has no secondary issues, the client was originally declined for DI coverage due to the pre-existing medical condition. The client currently has a 60% income replacement ratio through their employer with a $10,000/mo cap.
The broker contacted our DI Specialist for alternative plan options. After review, and considering the pre-existing type-1 diabetes, we were able to secure an offer for coverage – the client was able to review multiple plan designs and select an elimination period and benefit period that best suited their premium budget.
Here is the DI solutions they chose:
- $8,700 monthly benefit amount
- 75% income replacement less underlying GLTD
- 180-day elimination period
- 7-year benefit period
- No exclusion for diabetes!
- $3,965.87 annual premium*
- $4,521.92 with own Occupation Extension Rider
- $360.89 monthly premium*
- $411.49 with own Occupation Extension Rider
Our DI Specialists will work with you and your client to secure meaningful solutions with affordable premiums for your clients that feel they may not qualify for income protection due to health, occupational, or financial situations.
*IMPORTANT DISCLOSURE: The benefits, limitations and/or exclusions described herein are for general illustration purposes only and may vary by state and client profile.