The cost of your disability insurance is based on a number of factors. What you do for a living is one of the largest factors in determining the cost. Every company has decades of experience with your occupation and how likely you are to go out on a claim, and they price the policy accordingly.
Guardian Has The Best Coverage at The Best Occupational Class For Optometrists
You've probably heard that Guardian has some of the best disability insurance for optometrists available. That is true - Guardian offers a True Own Occupation definition of disability that is unmatched in the industry. If you can't do the material and substantial duties of your occupation as an optometrist, you can receive your full monthly benefit, even if you chose to work in another occupation. This is the best type of policy for Optometrists to have.
What you probably haven't heard is that Guardian has some of the lowest cost own-occupation disability insurance for your occupation. They have been a leader in the industry for decades, and because of their comprehensive underwriting and claims management, they are able to charge a lower rate for Optometrists than for most other occupations. Your occupational class with Guardian is a 6M. On a scall of 1M-6M, with 6M being the highest, you have one of the lowest costs for coverage as compared to other medical occupations and many other carriers.
Our Disability Insurance Calculator
Because we offer the lowest price available for such a high-end policy to optometrists, we tend to sell a lot of policies. The calculator below will give you an instant price based upon your information, and you have the ability to choose as much or as little coverage as you need.
You will be given one of our agents' information as well once you have completed the form. Your agent is there to answer any questions that you have so please feel free to call them with anything you need.
Make sure your policy has a recovery benefit - A recovery benefit ensures that you continue to get paid when you're back at work full time performing all the duties of your occupation, but still have a loss of income of at least 15%. Many insurance policies will not pay you when you're back at work full time doing everything you did before you were disabled. For an Optometrist who owns his or her practice, this can be a major problem. You will have to rebuild and get your patients back. During that time, you want to make sure that the insurance company is still paying you so that your income is as close to your pre-disability level as possible. The ProVider Choice Premier policy that we recommend contains an Enhanced Partial Disability Benefit the provides this recovery benefit.
Business Overhead Expense Coverage - Business overhead expense (BOE) disability insurance is a type of policy that reimburses you for the expenses related to running the practice. It ensures that you are able to continue to pay staff salaries, pay the rent, loans on equipment, and even has an option to help hire a replacement optometrist while you are recovering. While your individual disability insurance policy is making sure you have money to afford living expenses, BOE coverage is making sure your business stays running until you return. Many business owners find it even more important than their personal policy.
*Individual disability income products underwritten and issued by Berkshire Life Insurance Company of America (BLICOA), Pittsfield, MA. BLICOA is a wholly owned stock subsidiary of The Guardian Life Insurance Company of America (Guardian), New York, NY. Product provisions and availability may vary by state.