Recommendation for Company for Disability for Physician
- Thread starter rex
- Start date
When I was with Guardian in the 90s we knew we had the most comprehensive DI in the industry. We were also reminded occasionally that we also had the priciest DI in the industry. We sold a lot of DI, but we also lost cases to companies who had almost as good contract language with the accompanying price difference. The only way to say one is better than another is if they cost the same. Beyond that, the one that is best is the one that most closely aligns with your client's priorities.
- 1,271
All those high renewal commissions must come from somewhere.
- Thread starter
- #14
speaking with a NWML agent, he says they sell can and non-can policies and is quoting me a non-can. in his view, guardian (which he also sells) allows u to double dip if you are disabled although that requires u to be unable to perform any of your current duties. The advantage he quotes from NWML is that u can be totally disabled if u cant do your primary occupation like surgery for me.
- 15,041
I'm confused, how is that an advantage? Both Mass and Guardian have that. Additionally, Guardian will pay if you can't do surgery, but you can teach. And Mass will let you buy that as an add on to their policy. Finally, its his job to get you the most advantageous policy he can get, without being unethical or attempting to deceive the company. So, if he feels that Guardian is better because you can "double dip", why isn't he selling you the Guardian policy?
I don't know this NWM agent, and I'm not terribly familiar with their contracts, but the only person I've heard say that NWM's DI is better for specialists than Guardian is NWM agents.
There are many agents that make their living selling DI to doctors like yourself, if NWM was so great, why wouldn't they all be NWM agents so they could sell it? Instead they are Mass, Guardian, MetLife or independent agents, selling those policies as fits the case.
- 7,790
rex, go with Guardian and be done with it. Can't go wrong with them!
- Thread starter
- #17
his answer to that is very few people are disabled such that they can double dip but that the primary occupation disability feature is more valuable. It is true that im more concerned about being paid if im not able to operate then double dipping. he feels guardian wouldnt pay me as easily since i could still see clinic which doesnt generate much income at all. i agree that im concerned about the lack of support here for NWM and his reasoning is that since only nwm agents can sell nwm that there is a bias against them.
- 15,041
He's full of it.
I guess you are a surgeon. On either Mass or Guardian's base contract, if you tear a tendon in your pinky and can no longer operate, guess what? You get to sit on the couch and collect a check. The difference is, with Guardian you could still teach if you wanted to stay busy. With Mass's own occ rider, the same. You'll get paid just as easy if not easier with Mass or Guardian.
With the extended partial rider on Mass, I assume Guardian has something similiar, it gets even better. Lets say you suffer an injury or illness that prevents you from operating for more than say 5 hours at a time. Thus, you can do some surgeries, but not the more lucrative ones, and you lose 20% or more of your income. Mass will cut you a check for the same percentage of your benefit as your loss of income. Thus, if you are losing 30% of your income, you get 30% of the benefit. If you income drops to less than 20% of your income, you get the entire benefit.
Now, I may be slightly off on the percentage triggers. I can't remember the contract exactly.
I assume he's given you a NWM illustration, tell him you want a Mass and Guardian one. Remove your personal information and post the illustrations if you are willing.
- Thread starter
- #20
