Guardian Disability Insurance Brokerage

Veterinarian Disability Insurance

Disability Insurance Quote Gender: View All Male Female Age: View All 25-30 31-35 36-40 41-45 46-50 51-55 Monthly Benefit Amount: View All $0-$1,000 - (Income needed: $ 18,000) $1,000-$2,000 - (Income needed: $ 34,000) $2,000-$3,000 - (Income needed: $ 52,500) $3,000-$4,000 - (Income needed: $ 75,000) $4,000-$5,000 - (Income needed: $100,000) $5,000-$6,000 - (Income needed: $124,500) $6,000-$7,000 - (Income needed: $148,500) $7,000-$8,000 - (Income needed: $171,500) $8,000-$9,000 - (Income needed: $196,500) $9,000-$10,000 - (Income needed: $220,000) $10,000-$11,000 - (Income needed: $243,500) $11,000-$12,000 - (Income needed: $266,500) $12,000-$13,000 - (Income needed: $290,000) $13,000-$14,000 - (Income needed: $312,500) $14,000-$15,000 - (Income needed: $348,000) $15,000-$16,000 - (Income needed: $408,000) $16,000-$17,000 - (Income needed: $475,000) Our agents have 5,157 Veterinarian Clients

When you teach your patients’ owners the basics of preventative medicine—good nutrition, hygiene and the importance of appropriate vaccinations and preventative medications—you’re helping them avoid future problems for their animals.

But have you prepared as well for your own future—in particular, your financial future? What if, for example, you suddenly become disabled—through an accident…an injury…or an illness—and are unable to work? Are you fully prepared for such a scenario?

Unfortunately, no matter how young or careful you are, it can happen to you.

It's not safe to rely solely on a group long term disability policy your practice may have purchased. While group long term disability insurance is often relatively inexpensive and easy to administer, it can also fall short just when you need it most—leaving you in for some unpleasant surprises when it’s too late to correct the situation. Protect your financial security by purchasing individual disability insurance now.

Disability Insurance Quotes Call 888-513-2300

Most Common Optional Riders1 for Veterinarian Clients Based Upon the Age, Gender, & Benefit Amount Selected Above 1. Residual Disability Benefit Rider This rider provides a benefit when solely due to sickness or injury‚ you suffer a loss of 15% or more of your income. There is no loss of time or duties requirement. This rider also has a recovery provision whereby‚ if you recover and return to work but still suffer a loss of income of at least 15% of your prior income‚ you will continue to be eligible for this benefit for the full duration of the benefit period. Most agents feel this is a must have rider on every policy. 95.81% 2. Future Increase Option Rider This option allows consumers the ability to obtain additional disability coverage in the future regardless of any adverse changes in their health. Many people believe that their incomes will continue to rise over the years‚ and this rider allows you to buy more disability insurance coverage in the future each year on the policy's anniversary up to and including age 55. The rider also includes special option dates that allow off-anniversary increases for events such as the loss of group long term disability coverage. While medical information is not required when exercising this option‚ applications to exercise this option will be financially underwritten taking into consideration both current income and all other disability insurance in force for the insured has applied or is eligible to receive. 63.56% 3. 3% Compound Cost of Living Adjustment (COLA) Rider2 Cost of Living Adjustment rider will increase your total monthly benefit every month you are on claim up to 3% after you have been disabled for 12 months. 60.77% 4. 4-Year Delayed COLA Rider2 This Cost of Living Adjustment (COLA) rider will help to increase benefits during a claim. The 4-Year Delayed option is less expensive than a normal 3% COLA rider because you are essentially self insuring the first 4 years of COLA increases during a claim. 18.34% 5. Catastrophic Disability Benefit Rider This rider provides additional benefits to you should the disability be so severe that is causes you to be unable to perform 2 or more of the Activities of Daily Living including: bathing‚ dressing‚ eating‚ transferring‚ toileting‚ or continence or you suffer a cognitive impairment requiring substantial supervision. 17.96% 6. Automatic Benefit Enhancement Rider This rider is at no cost‚ and will increase your monthly benefits by 4% every year for six years‚ with no proof of income. While the rider itself is provided at no cost‚ additional premiums are required... for coverage added by the rider. 11.21% 7. Unemployment Waiver of Premium Rider An inexpensive rider that waives the premiums for your DI policy for up to one year should you be on unemployment and receive unemployment compensation for at least 60 consecutive days. 2.81% 8. 6% Compound Cost of Living Adjustment (COLA) Rider2 Cost of Living Adjustment rider will increase your total monthly benefit every month you are on claim up to 6% after you have been disabled for 12 months. 2.66% 9. Social Insurance Substitute Rider This is a monthly benefit that coordinates with payments received from the Social Security Administration ('SSA') for a disability‚ as well as other similar government programs. If you receive Social Security Disability Insurance‚ the insurance company will reduce the amount of benefits payable under this rider dollar for dollar from $200 to $1‚500 . This rider is often purchased to reduce the total cost of coverage‚ while helping assure an adequate level of disability protection. 1.59% 10. Basic COLA 3 1.55%

Want To Be Better Prepared? Consider The Following:

Learning to speak the lingo:

The right disability insurance policy can help you keep your household going, even if you suffer a long-term disability. But before you go shopping for a disability income policy, you need to know what features to look for—and the language the insurance industry uses to describe them. The following terms are part of the language describing high-quality policies, and are what you should look for to get coverage you can count on:

• Non-cancellable: To avoid the possibility of losing your coverage just when you need it most, choose a policy that’s non-cancellable and guaranteed renewable to age 65 or 67. With this type of coverage you are assured that premium rates and policy provisions will not be changed as long as premiums are paid on a timely basis. With group or association group coverage, you run the risk of being dropped and left unprotected at a time in your life when, due to your age or to a change in your medical condition, it would be very difficult to qualify for coverage from another provider.

• Own-occupation: Own-occupation coverage defines "totally disabled" -- and therefore eligible for total disability benefits -- as being unable solely due to sickness or injury to perform the material and substantial duties of your occupation even if you are working in a different occupation. As a highly skilled professional who has invested so much in education and training, you want to make sure you have genuine true own-occupation coverage…so that if you practiced veterinary medicine and became disabled, even if you can teach, for example, in your field—but cannot practice veterinary medicine—you are still eligible for benefits. Group coverage is rarely true own-occupation coverage.

• Residual Disability coverage: Through a rider, a good individual disability insurance policy can provide you with protection against the income loss you may suffer as a result of partial (residual) disability—even if you have never suffered a period of total disability. This kind of residual coverage is not available with most group plans.

• A choice of Riders: Riders offer optional additional coverage such as annual Future Increase Options, Automatic Benefit Enhancements, and Cost of Living Adjustments.”

Disability Insurance Quotes Call 888-513-2300

Protecting your practice, as well as yourself

As a veterinarian, you must also protect the source of your income: the practice you’ve worked so hard to establish and grow. Special policies, available from the same disability insurance providers who offer high-quality individual coverage, offer your practice protection while you recover from an extended illness or accident.

To help meet the expenses of running the office while you are disabled, consider a separate type of disability insurance coverage known as Overhead Expense or OE. Benefits reimburse your practice for expenses such as rent for your office, electricity, heat, telephone and utilities, as well as interest on business debts and lease payments on furniture and equipment.

Overhead expense insurance specifically designed for professionals pays some additional costs not included in regular business overhead expense policies—including the salaries of employees except those who are members of your profession. In a veterinary practice, for example, salaries for the receptionist and nurse would be covered, but not the salary of your veterinarian partner or employee. However, high-quality Overhead policies will cover at least part of the salary of a professional temporary replacement for you, such as a veterinarian retained to fill in during your extended illness or accident.

In addition...

Veterinarians who are partners in a group practice will want to consider a policy known as a Disability Buy-Out or DBO. In much the same way that life insurance benefits can be set aside to fund a buy-out by the remaining partner (or partners) if one partner dies, Disability Buy-Out is designed to fund the healthy partners’ purchase of the disabled partner’s share of the business. With the proper agreement in place before disability occurs, hard feelings and the conflicts of interest that result from a partner’s disability can be avoided.

The fact is, as part of your overall planning, you owe it to yourself to look into protection for the one thing that makes all the other planning possible: your ability to earn an income.

Disability Insurance Quotes Call 888-513-2300