Occupations that Can't Get Disability?

[marc82much]

Hi Friends,

I was reading that some cases can't be written as a stand alone DI policy. The person I spoke with said that it would have to be a rider on a whole life policy and that they wouldn't write a stand alone disability policy. Not sure if this is universal or profession specific. The insured was an "air-traffic controller."

Anyone ever hear of specific classifications being denied?

Thanks for your input...

Oilfield deep sea divers?

 

[DIBrokerage]

Oilfield deep sea divers?

Yup they can get DI.

 

[eersfan]

Yup they can get DI.

Petersen International can insure just about any occupation. I haven't found any they won't, but there may be one out there somewhere.

 

[DIBrokerage]

Petersen International can insure just about any occupation. I haven't found any they won't, but there may be one out there somewhere.

yes, they are very versatile. We always try and get a policy with one of the US admitted carriers before going to the lloyds market but ultimately they are a great safety net to have as a brokerage specialist in the field

 

[David Block]

As has been said previously, the traditional US based insurers that offer disability should always be the first place to turn for coverage. It is not that the Lloyd's policies are lacking, it is the simple fact they are conditionally renewable versus guaranteed renewable or non-cancellable. In addition, another option is to see if there is the possibility of installing a group plan either before or after looking for the individual solution. Though the latter is always a better option.

With nothing against Petersen (they are extremely knowledgeable and helpful), there are other players that also work with Lloyd's. There are even lump-sum policies with longer elimination periods that could be available through Lloyd's that are not as occupationally oriented (though they are income based).

I would say to those agents/brokers that read this to make certain you find a good MGA or GA that can guide you at all times. To those agents that are tied to one carrier, make certain you open your eyes to additional opportunities to help your clients maximize this vital coverage. To clients that may be reviewing this thread, I urge you to ask your agent how many carriers they represent. If they are tied to one carrier, there are limited solutions. The analogy is if the only tool you have is a hammer, even a screw needs to be hit.

 

[DIBrokerage]

To add to what David said. It is vital that agents work with an experienced General agency. You should always look to establish a close relationship with a General Agent who represents all of the DI carriers. There are very few major DI carriers left in the market so working with a General agent who represents them all is your best way to get unbiased opinion from a specialist in the field. There is certainly nothing wrong with Petersen and we wholesale alot of it simply because they fit the bill when the traditional carriers dont want to play ball however I suggest you to always aim to look at the traditional markets first.

Jordan Albala
MetroDI Agency Inc.
Associate General Agent
500 North Broadway, Suite 243
Jericho, NY 11753
Telephone: (866) 638-7677
Facsimile: (516) 364-5121
Email: [email protected]
Website: www.metrodi.com