DI for a Doctor

[Ladeemelie]

I'm looking for DI for a doctor with a $1 million plus income. He has a practice and a product that's in stores nationwide. He's looking to replace $20K to $30K monthly. Any options? I write mainly for MoO and they just don't fit his needs.

 

[dgoldenz]

I'm looking for DI for a doctor with a $1 million plus income. He has a practice and a product that's in stores nationwide. He's looking to replace $20K to $30K monthly. Any options? I write mainly for MoO and they just don't fit his needs.

He'll need a combination of policies to get that much coverage since none of the major DI insurers will go over $17k/mo for a doctor. Guardian has the best DI policy for physicians and will go up to $16k/mo. He can combine that with a policy from a second company to get to the desired level of coverage. One problem you may have is that if a large portion of his income is from the product and not from actual practicing, he may not be insurable at all. Companies will consider the income from the product to be unearned income and if the unearned income is more than 50% of his earned income, he could have a problem there.

Give me a call at 703 753 three three seven six if you want some help with this case. Sounds like he needs disability business overhead expense coverage and possibly buy-sell lump sum disability too if he has a partner.

 

[njh_lfg]

Dgoldenz, apparently you do not do much DI work (rather just leach off a new member by providing incorrect information) because you can take this case to the big boys and get it all covered in one policy. A 1mm earner can get one contract to cover nearly 60k per month benefit.

I have written three people in the last year in one contract with 100k per month benefit. Takes time and a trusting relationship with the client.

 

[VolAgent]

Dgoldenz, apparently you do not do much DI work (rather just leach off a new member by providing incorrect information) because you can take this case to the big boys and get it all covered in one policy. A 1mm earner can get one contract to cover nearly 60k per month benefit.

I have written three people in the last year in one contract with 100k per month benefit. Takes time and a trusting relationship with the client.

What carrier? (20 characters)

 

[dgoldenz]

Dgoldenz, apparently you do not do much DI work (rather just leach off a new member by providing incorrect information) because you can take this case to the big boys and get it all covered in one policy. A 1mm earner can get one contract to cover nearly 60k per month benefit.

I have written three people in the last year in one contract with 100k per month benefit. Takes time and a trusting relationship with the client.

With who, other than Petersen? All of the major DI carriers have participation limits for a reason...I do a lot of DI, have never had a company offer to exceed their participation limits. Would love to see the details.

 

[Tahoe Ray]

I'm curious here as well...what carrier?

 

[VolAgent]

Show me a carrier that will issue coverage for up to 720k a year in tax-free payments, and I'll show you a carrier with a very high number of people on claim.

 

[dgoldenz]

I do appreciate the insult though...

 

[Ladeemelie]

Any ideas for a carrier that's REAL? I know about Petersen. Anyone know what their rates look like? I appreciate the feedback.

 

[dgoldenz]

Any ideas for a carrier that's REAL? I know about Petersen. Anyone know what their rates look like? I appreciate the feedback.

The rates are not the main concern with DI, the quality of the contract is. Guardian has the best DI policy on the market so I would start there, but like I said if a large part of his income is from the product and not from actual practice, he may not be insurable.