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Buyer of Association Disability Insurance Beware

Buyer of Association Disability Insurance Beware

If your employer provides group disability coverage and you also purchased additional protection through a professional association then this article is a must read. In a recent court case, a policyholder filed suit against the disability insurance carrier who provides the group protection their employer for failure to provide the full benefit illustrated in the policy. Why you ask?   The insured had also purchased coverage through a professional association and thought it to be individual protection.  In the suit the Group Carrier for the employer claimed that the association benefits actually constituted group disability benefits (not individual protection) and for that reason they did not have to pay the full benefit amount offered from the employer contract.  The Federal Court agreed with the Group carrier and allowed them to lower the injured individual’s benefits according to contract provisions. This ground breaking decision will impact any individual looking to supplement[...]
Before You Jump

Before You Jump

Your career is on track and you’ve got control over your finances now what?   It’s time to start thinking about all of those adventures you’ve always wanted to take.  Perhaps an African Safari or Shark diving in the Great Barrier Reef.  Whatever the case, it is important to have a grasp on your personal insurance coverages before checking those items off your bucket list. There is a product available and should most likely acquired prior to taking the leap.  It is called Accidental Death and Dismemberment. This type of policy provides coverage for those who are killed or loose a limb due to an accident.  It can include ancillary benefits such as emergency airlift and the bringing of ones remains back to your home country. This type of coverage is inexpensive as compared to traditional life insurance because it only covers accidents.  If travel plans for climbing mountains, deep sea cave diving or any other potential hazardous activities are in your future, then I would strongly u[...]
Disability Income Protection and The Anesthesiologist

Disability Income Protection and The Anesthesiologist

The field of medicine has evolved so much in recent years that no one simply identifies themselves as a doctor anymore.  There are specialties and subspecialties that categorize the particular service that is being provided.  Take Anesthesia for example.  In the past when one mentioned that he/she was an anesthesiologist the general consensus was that he/she worked in operating rooms and in layman’s terms put people to sleep.  That has all changed.  Now an anesthesiologist can specialize in pain management or focus on a particular aspect of the field as it relates to areas such as emergency rooms, or hospice.  Of course this is nothing new to you as a professional in the field but what are the ramifications as it relates to obtaining quality disability coverage for yourself in your area of specialty? Put simply it all depends upon the risk of claim within that subspecialty.  For example there is a high incidence of drug abuse among certain types of anesthesiologists.  That being sai[...]
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The Standard Upgrade

Hot off the press, ok maybe not that hot, but none-the-less still important. As of May 1, 2016 The Standard Insurance Company made some changes to their Disability Protection Products for physicians. Generally speaking change in the insurance industry tends to be a scary word, however in this case it is not so. This change is considered an upgrade and should benefit many surgical specialists. Including: Cardiac Surgeons Cardiothoracic Surgeons General Surgeons Interventional Nephrologists Neurosurgeons Plastic Surgeons Surgical Oncologists Thoracic Surgeons Once we know more about the changes we will let you know. Until then enjoy the end of this lovely spring season. Stacia Musleh  [...]
Disability Awareness Month

Disability Awareness Month

May is a month with many reasons to celebrate.  The weather is warmer, the flowers are blooming and the birds are singing.  We also have Cinco de Mayo and of course its a time to remember mom.  May is also Disability Awareness month. This is the perfect time to remind you that if you don't already have this critical coverage then you need to get it. Most people underestimate the importance of having an income protection policy.  The chances of incurring some type of disability in your lifetime are high. You don't want to find out the hard way just what a disabling accident or health condition can do to your pocket book.  Make sure your policy have the appropriate clauses to protect you in your medical or dental specialty. If you already have coverage take a moment and refresh you memory on the details. Perhaps you are earning more money now and need to increase the amount of protection.  Maybe you are in a partnership or sole proprietorship.  If that is the case you will need to [...]