Professional Group Coverage (competition) ???

Discussion in 'Disability Insurance Forum' started by Mike Siegal, Jun 1, 2017.

  1. Mike Siegal
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    Mike Siegal Well-Known Member

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    Hi friends,

    I was talking to a friend who is a "retired" Physical Therapist and she claims she purchased a DI policy through a group that was 30% (or more) cheaper than an outside agent. Assuming that's true and this is your competition, how that works;

    • -Are there groups companies that write DI for specific professions?
    • -If so, how much cheaper are they and who can Join?
    • -What are the strengths/weaknesses of those "professional group policies?"

    I do so appreciate any constructive input you can give and THANKS!



    ~M
     
  2. Tahoe Ray
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    Tahoe Ray Well-Known Member

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    Write Standard for Physical Therapists...their occ class is much higher than the competition.

    I would be willing to bet that your client just got a Principal policy with a multi-life discount (not GSI).

    Women get huge discounts on these policies because they are typically unisex.

    I hope that this helps.
     
  3. Mike Siegal
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    Mike Siegal Well-Known Member

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    Hi Ray,

    question: You are saying that PT got a "individual plan" with a multi-life discount (insuring the family)? ----rather than a industry plan from a specialized provider?

    Thanks Ray!
     
  4. Tahoe Ray
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    Tahoe Ray Well-Known Member

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    Several carries offer multi-life discounts where the only qualification is a common employer.

    Typically you're looking at three people with the same company.

    They are not group plans and are fully underwritten (possibly simplified if benefits are low enough) but allow for a discount plus unisex rates.

    This is big for women...

    ----------

    By the way, there are association discounts offered by carriers/agents who have relationships with various groups...
     

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