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If
you are a physician, you should be looking for more than one thing in a disability
insurance contract. While Guardian does offer doctors a medical specialty specific own-occupation disability insurance policy, one of the strongest benefits to the ProVider Plus policy is the recovery benefit for the entire benefit period. ProVider Plus disability insurance through Guardian offers physicians pure own-occupation to age 65, a residual rider offering unlimited recovery during the entire benefit period, no mental or nervous restrictions*, and an optional graded lifetime benefit period.
What is an own-occupation definition of total disability?
Berkshire has three primary occupational classes for physicians; 4, 4P, and
3. The definition of total disability is the same for occupational classes
4 and 4P, and provides a pure own-occupation contract that recognizes
any specialty recognized by the American Board of Medical Specialties
to age 65. This is the longest period of pure own-occupation available
to any physician by any company. The definition of total disability, and
hence own-occupation for these two occupational classes is:
Total disability means that, because of sickness or injury, you are
not able to perform the material and substantial duties of your occupation.
Your occupation means the regular occupation (or occupations, if more
than one) in which you are engaged at the time you become disabled. You
will be totally disabled even if you are at work in some other capacity
so long as you are not able to work in your occupation. If your
occupation is limited to a single medical specialty certified by The American
Board of Medical Specialties or a single dental specialty recognized by
the American Dental Association, we will deem your specialty to be your
occupation.
| Possible
Discounts for Physicians |
| Preferred
Risk - 5% off
|
| Non-Tobacco
User - 15% off
|
| Association
- 10% off - for qualified associations
|
| Employer
Sponsored - 10% off - need 2 or more people from same practice
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| Multi-Policy
- 5% off - Multiple policies with Guardian
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Physicians Are Also Small Business Owners
As a physician, if you own your own practice, you wear two hats. One
is doctor, the other is small business owner. It is for this reason you
need to look at our section designed for small
business owners. Here you will learn about the need for protecting
your business along with your income. We will talk about business overhead
insurance, buy-sell planning for you and any partners.
Special Limits For New Physicians
For physicians that are still in training, or have just completed their
training we do offer special amounts of coverage regardless of current
earnings. As you can see from the chart below we offer first year physicians
a monthly benefit of $4,500. If you are a first year physician making
more than $100,000 a year you would qualify for a higher amount of coverage
with us. Most residency programs offer group long term disability insurance
through the hospital or school, we will still offer residents this amount
of coverage over and above their group LTD.
| First
Year Physician - $5,000 a month in coverage |
| Residents
- $3,500 a month |
| Interns
- $2,500 a month |
| Senior
Medical Students - $2,100 a month |
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