Discussion in 'Disability Insurance Forum' started by FL P&C Broker, Feb 21, 2017.
Looking for a couple go to options for veterinarians.
Guardian would be my first choice. Followed up by Ameritas, Standard, Principal. ON and Mass have good products too. But Guardian is my favorite go to, especially for medical field.
Never mind, I read it wrong...I thought you were looking for DI for Vegetarians.
The new Ohio National product is great for them. Guardian and Principal as well. Vets also rely heavily on their association plan that is underwritten by NYL and it is a very good plan as far as association plans go.
I don't do a whole lot of DI, but the new ON looks pretty strong to me. They allow a lot more plan flexibility than their old one, and they have a 10% discount if the insured buys a certain amount of life insurance (250k permanent or 1.5million term) within the 6 months before or at the same time. There are multiple ways to get discounts, but that is one that a lot of people should be able to get. I wrote an engineer recently that qualified for their new 6a rating class, and the apples to apples comparison against mass mutual was pretty significant. I think ON is the only carrier that is competitive in this market to give a true non-cancelable to age 70. I think the others that offer to age 70 change over to guaranteed renewable at either age 65 or 67. I could be wrong on this, but that was my understanding from what I read. They are really trying to be competitive with their new product.
Don't forget excess disability coverage if they have high incomes. You can get up to about 2/3 of income protection regardless of income levels. Sometimes to get the right amount takes a couple of carriers.
Also, be sure to look at buy-sell, BOE, keyperson and even bank loan coverages!
Veterinarians are making larger incomes and building bigger and better practices these days.
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