DI for Physicians

[VolAgent]

I never was scrimping, nor were the doctors. We never talked about replacing or adding...yet! I was merely introducing a thread for discussion. I also was never planning on replacing the products. Glad to know about the definition. I will research this some more. I thought this would be a good topic for those of us interested in DI, and I found it interesting that two doctors from two different groups had Guardian. Has to be a reason.

It wasn't an attack, I was trying to help you understand the mindset you need to have when it comes to DI for high income earners like doctors. It is worth paying a bit more to get better coverage.

 

[RonRoberts]

It wasn't an attack, I was trying to help you understand the mindset you need to have when it comes to DI for high income earners like doctors. It is worth paying a bit more to get better coverage.

I understand, and I wasn't attacking either. I see where you are coming from. I was only trying to figure out why Guardian seems to be the physicians pick.

BTW, I like your idea with Primerica agents. I know a few so maybe I'll get lucky when they crap out.

Ron
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If you are protecting a 400k+ income, why are you scrimping over 50-100/mo?

Guardian isn't necessarily the cheapest, but it has one of the best definitions of disability out there, plus good riders that go with it.

As far as definition can the definition of "Total Disability" get any more specific then this? Compared to Guardian's definition.

"We will consider an insured totally disabled if an injury or a sickness prevents him/her from performing the material and substantial duties of the occupation. This means the occupation or occupations at the time of disability began. The insured must also be under the regular care and treatment of a physician appropriate for the condition causing disability, unless further recovery is not expected."

 

[Mattschmidt]

I understand, and I wasn't attacking either. I see where you are coming from. I was only trying to figure out why Guardian seems to be the physicians pick.

BTW, I like your idea with Primerica agents. I know a few so maybe I'll get lucky when they crap out.

Ron
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As far as definition can the definition of "Total Disability" get any more specific then this? Compared to Guardian's definition.

"We will consider an insured totally disabled if an injury or a sickness prevents him/her from performing the material and substantial duties of the occupation. This means the occupation or occupations at the time of disability began. The insured must also be under the regular care and treatment of a physician appropriate for the condition causing disability, unless further recovery is not expected."

That's about the same as the standard. And it's very straight forward. Both companies are great to work with

 

[VolAgent]

As far as definition can the definition of "Total Disability" get any more specific then this? Compared to Guardian's definition.

"We will consider an insured totally disabled if an injury or a sickness prevents him/her from performing the material and substantial duties of the occupation. This means the occupation or occupations at the time of disability began. The insured must also be under the regular care and treatment of a physician appropriate for the condition causing disability, unless further recovery is not expected."

David is definitely the DI expert here, but that is about as good as it gets.

 

[RonRoberts]

My definition came from Ameritas (Union Central)

 

[VolAgent]

My definition came from Ameritas (Union Central)

DI is the rare thing for me, so I don't remember Guardian's definition.

Also, the riders help and the calculation of income. There are a lot of ways to limit the payout in addition to the straight definition of DI.

 

[dgoldenz]

Ameritas has a good policy but they require face-to-face sales so if you sell over the phone make sure you keep that in mind. Still not as good as Guardian's though. You should be able to get a side-by-side comparison of both policies from Guardian, not sure if Ameritas provides the same type of comparisons. Just know that if you aren't selling Guardian, you're going to run into a Guardian agent when dealing with physicians, and many physicians have been told by colleagues/mentors/teachers that Guardian has the best DI policy, so there's that.

Guardian also pays renewal commissions for the life of the policy instead of only the first 10 years like some other companies. Makes for a good residual stream if you are selling a lot of DI.