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2 Great Disability Insurance Riders

2 Great Disability Insurance Riders

As a doctor, you don’t like to think about the possibility that you could ever be disabled, or even lose the ability to work in your chosen specialty. But to work as a doctor is to see this happen every day in the lives of other people. If an accident or illness were to happen to you, would your disability insurance protect you and your family? Which disability insurance riders are best for you?

Disability insurance riders can modify your existing policy to increase or decrease your premiums and benefits. For instance, including a rider called the Cost of Living Adjustment (COLA) Rider. COLA increases your disability benefit annually once disabled to help keep up with rising inflation. You have two Cost of Living Adjustment (COLA) options to choose from: compounded or simple interest. Policies with this rider help prevent inflation from taking a bite out of your disability income.

Another great rider is the Future Increase Option (FIO). It guarantees your future medical insurability as your income increases. It is also available if you lose employer-provided group disability. With some carriers FIO guarantees rate structure, occupational class, and policy definitions of your original contract. Rates are based on attained age.

Disability insurance for doctors can be confusing. It’s sometimes tough to decipher exactly what’s covered in a policy, and what isn’t. Some doctors discover too late that the disability policy they had been relying on didn’t offer the protections they imagined. Don’t be one of them! We can help you find a true “own specialty” disability policy that protects your income and your freedom of choice. Why let a restrictive disability policy dictate whether or not you can work — especially when there are much better options available? Let us show you what true “own specialty” disability policies and available riders are available for you. We think you’ll agree that true “own specialty” disability insurance is the way to go.