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Q. Why
do I need disability coverage?
A.
Long term own occupation
disability insurance
to provides tax-free monthly
benefits to you, your
family and your business.
The right coverage provides
the monthly income you
need to protect your family
and business when you
cannot work in your specialty
due to an injury or illness.
Q. What
is Own Specialty coverage?
A.
Own Specialty is the tightest
definition for coverage
in the marketplace.
It's the
best means to protect
you and prevent insurance
companies from paying
your claim."Own Specialty"
supersedes "Own Occupation"
coverage, in that if you're
an MD or DO, that is your
occupation.
Your specialty
is the type of medicine
your practice.
You want
coverage to protect you
in case you're no longer
able to practice your
specialty.
Q.
How much disability insurance
coverage do I need?
A.
Many representatives or
agents will tell you to
buy all you can afford.
That answer is typically
a commission-driven recommendation.
We recommend that you
buy the amount of coverage
you need to take care
of your household living
expenses with a future
purchase option to increase
your contract if and when
your financial needs change.
Q.
How much does disability
insurance cost?
A.
The cost is dependent
on age, gender, medical
specialty, state of residency,
place of employment and
medical history. Give
us a call or e-mail us
for a custom price disability
insurance quote.
Q.
When is the best time
to purchase a personal
disability contract?
A.
Contracts are age, gender,
medical specialty, state-of-residency,
and state-of-health specific,
so the longer you wait
the more expensive they
become. In addition, if,
in the future, you work
for an employer or group
practice that has its
own coverage, you could
be precluded from purchasing
your own personal policy.
Q.
How long does it take
to get a quote and then
a policy if I want to
move forward?
A. M.D.
Financial Services provides
free quotes in 24 hours
or less. Once you’re
ready to apply
for disability coverage,
it typically takes between
three to eight weeks for
a policy to be received
and implemented. The sooner
a Para-Med Exam is taken,
an Attending Physician
Statement is secured and
income-verification documents
are provided, the more
timely your coverage can
go into effect.
Q. Can
I qualify for coverage
based on a less-than-perfect
medical history?
A. The
answer here depends on
both your history and
your present health status.
If there are extenuating
circumstances, a brief
but complete description
of the issue, including
treatments, medications,
duration and present condition,
is very helpful. There
are carriers that will
provide coverage for such
pre-existing conditions
as diabetes or depression.
It’s important that
you come to us first in
that if you are previously
declined for a pre-existing
condition it makes it
more difficult to provide
you a variety of coverage
choices.
Q.
Why is there so much bad
information about disability
insurance from other representatives
and agents?
A. It’s
surprising and disappointing
to learn how many representatives
either never read the
contracts they provide
their clients or are simply
looking out for their
own interests first. Most
agents know surprisingly
little about the products
they sell, doing very
little research on behalf
of their clients. In addition,
many representatives are
driven by company quotes,
thus running the risk
of placing their clients
into contracts which may
be easy to sell, but are
not exactly right for
the situation.
Q.
What other products and
services does M.D. Financial
Services offer?
A. We
work in all areas of:
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disability
insurance |
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business-overhead
insurance |
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long-term-care
insurance |
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term
life insurance |
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whole
life insurance |
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high-deduction
retirement plans (typically
$100,000 or greater
annual contributions) |
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If
you have further questions
call or e-mail us
today. |
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