Physicians Disability

Benefits of your Physician Disability Income Protection Program:

Renewal Security
Coverage is guaranteed renewable as long as:

  • You are a Physician under age 75
  • You are active in the profession
  • If your coverage is sponsored by a Medical Society, as long as you are a member of the Society and the Society continues to sponsor the program.
    (Conversion policy available).

Specialty Coverage
If your occupation is limited to a recognized specialty within the scope of your degree or license, the Company will deem it to be your Occupation.  Your Occupation is the Occupation you are engaged in at the time you become disabled.

Residual Disability Protection
Included to Age 65.  This benefit pays a percentage of your Total Disability benefit according to a loss of income formula if you are partially disabled.

Favorable Benefit Limits

  • Under Age 50 - $17,000/month ($204,000/yr.)
  • Age 50-59 - $10,000/month ($120,000/yr.)
    (Based on Health & Financial Underwriting)

Choice of Waiting Periods and Benefit Periods

Five Waiting Periods available:

  • 30, 60, 90, 180, or 365 days

Four maximum benefit periods available:

  • To Social Security Normal Retirement Age (SSNRA)
    (Benefits payable to SSNRA, prior to age 64; age 64-75, payable for longer of one year or to SSNRA)
  • To Age 65
    (Benefits payable to age 65, prior to age 64;     one year age 64-75)
  • 7 Years
    (Benefits payable for seven years prior to age 64;     one year age 64-75)
  • 2 Years
    (Benefits payable for two years prior to age 64;     one year age 64-75)

To apply, you must be under age 60 and your application must be acceptable to the Insurance Company, including satisfactory evidence of insurability.  In areas of New York State where a County or District Medical Society has endorsed this program, Society membership is required.

Reasonable Rates
The group purchasing power of physicians in the program and group administration results in favorable rates for physician customers.

Valuable Optional Benefits Available

Recovery Benefit Rider –
Helps You Get Back on Your Feet
This pays a lump sum benefit on return to work in addition to the monthly disability benefits received during disability, if you have been receiving disability benefits for 45 days or longer.

Catastrophic Disability Benefit Plus –
Extra Benefits in Your Time of Need
Pays an extra 30% of your monthly benefit if you are Cognitively Impaired or unable to perform at least 2 Activities of Daily Living, after 6 months.

Cost of Living Adjustment (COLA) –
Help Your Benefits Keep Pace with Inflation
After you have been on claim for one year, your benefit may be increased based on changes in the Consumer Price Index
Three Options Available

Guaranteed Purchase Option –
When Your Income Rises, So Should Your Coverage
Available to customers under age 40, this is an option to increase your coverage by 25% on your second, fourth, sixth, and eighth policy anniversary dates, without medical underwriting.

Worldwide Coverage

Underwritten by Life Insurance Company of Boston & New York (Athol Springs, New York)