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Insurance Carriers are Simplifying the Disability Insurance Process

Insurance Carriers are Simplifying the Disability Insurance Process

June 11, 2020
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For many of our dental client’s protection planning is probably their least favorite part of any comprehensive financial plan. The exciting parts tend to be reducing debt, building wealth and watching your net worth grow. From a medical sense we should think of protection planning as our immune system and a healthy immune system is there when you need it and helps us fight off disease.

Due to the Conroavirus many disability insurance carriers have made it much easier to apply for coverage.  Simplified underwriting limits have increased with most carriers allowing for coverage to be issued more efficiently.  As a result, turnaround times have significantly improved.  We have access to carriers who specialize in the dental community allowing us to audit and review all kinds of disability coverage.  Additionally, over the years new riders have been added to cover student loans and business loans in addition to your personal and business income. 

Below are some highlights that many carriers are offering.

1. Simplified underwriting extended through 7/31

Disability Income:  $10,000/month

Business Overhead Expense:  $25,000

Disability Buy Out and Key Person:  $1,000,000

2. Online Part B is available as of Thursday, June 4th

Clients can avoid the Tele-App process

No more wait times to complete the telephone interview

The client will be sent a link to complete the online Part B

Our team is here to help so if you feel your coverage is inadequate or would simply like a review of existing coverage please feel welcome to connect.

-Ryan and Brian

 

This is meant for educational purposes only.  It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Please consult with a financial professional regarding your personal situation prior to making any financial related decisions.  (06/20)