Disability Income Protection Plan

The purpose of the plan is to provide you with a lump sum disability benefit if you have an accident or illness which prevents you from performing your normal medical procedures and you are not expected to be able to perform those for the remainder of your lifetime.

Up to five times your earnings to a maximum benefit of $1,000,000.

The purpose of the plan is to provide you with a monthly benefit to replace part of your income when you have an accident or illness which prevents you from performing your normal procedures. The full benefit is paid when you are unable to perform one or more procedures and choose not to work. A partial benefit is paid when you are working but earning less than 80 percent of what you had been earning.

Up to $19,500. When combined with all your other disability policies, the total benefits cannot exceed 70 percent of your gross earned income.

The monthly benefit is payable 90 days after you are totally or partially disabled. The lump-sum benefit is payable 60 months after you are totally disabled.

At the end of the 180-day period, as a result of a covered injury or sickness, you are unable to perform one or more of the actual procedures of your practice, and you are earning less than 20 percent of your prior earnings.

At the end of the 90-day period, as a result of a covered injury or sickness, you are unable to perform one or more of the actual procedures of your practice, and you are earning less than 80 percent of your prior earnings.

The premiums are due during the elimination period (either 90 days for the monthly benefit, or 60 months for the lump sum–only benefit). At the end of those periods, when the benefit is payable, the premiums will be waived.

Three years less one day (or three years less one day, if this term option is chosen). The premiums are fixed for five-year (or three-year) periods, though the annual state tax payment may vary during the term of the policy. Benefits terms for the lump sum benefit are guaranteed under age 55, and under age 65 for the monthly benefit.

Lloyd’s of London. Its current financial ratings are:

Yes, but for the lump sum benefit, your current inforce benefit plus the new benefit that you’re applying for cannot exceed five times your annual income. For the monthly benefit, the combined total payments from all your disability policies (individual, group, Lloyd’s of London, etc.) cannot exceed 70 percent of your total earned income.

Yes, all benefits are income tax–free under the IRC Section 104(a)(3) if the premiums are paid with after-tax dollars. Please consult your financial advisor for more information.

No. The policies are designed to be used to supplement your existing coverage, not to replace it.

To qualify for simplified issue, you must have been actively at work full-time in your specialty or occupation for 180 days preceding the open enrollment period and have not been paid disability benefits in the past five years.

No, but you must be legally working in the United States to be eligible.

Yes. Your disability income protection is worldwide, 24/7.

The effective date that is shown on the policy.

Not necessarily. It depends upon the condition that caused the interruption in work or the disability. 

You must become disabled within 365 days from the date your accident or illness “first manifests” or first occurs.

Yes. You should call or email Todd Ackerman. Please send an email to TDCISDisability@thedoctors.com or call (888) 300-3905. He can review your situation in detail and make recommendations.

Probably not at this time. Ideally, you want to maximize your individual disability insurance prior to purchasing this policy. This policy is designed to be used to supplement or extend other disability insurance policies. Please send an email to TDCISDisability@thedoctors.com or call Todd Ackerman at (888) 300-3905 to discuss this, as well as other options for individual disability insurance coverage.

No. However, the underwriters will take your pre-existing condition into consideration and the pre-existing provision will apply.

If the loss is caused by, or the result of:

• Being under the influence of narcotics or intoxicants, unless taken under the advice of an appropriate physician.
• For the lump sum benefit, any psychosis, neurosis, or neuropsychiatric illness including, but not limited to, any emotional anxiety or depression illness for which any form of psychiatric or psychological therapy is indicated or received. For the monthly benefit, payments for these conditions are limited to 24 months in a lifetime.
• Suicide, attempted suicide, or intentionally self-inflicted injury.
• Travel on aircraft for test purposes, on military aircraft, servicing as a pilot or crew member, taking a flying lesson, or riding as a passenger in a vehicle without a valid airworthiness certificate.
• War, declared or undeclared, or any act of war.
• Participation in a riot, service in the military, or committing or attempting to commit a felony.
• Nuclear reaction, radiation, or contamination (not related to occupation).
• A pre-existing condition.
• Riding or driving in any kind of motorized race.
• Engaging or participating in naval, military, or air force service or operation.
• Death of the insured.
• Normal pregnancy or resulting childbirth or miscarriage.
• Terrorism involving the use or release or the threat thereof of any nuclear weapon or device or chemical or biological agent.

Yes.

A pre-existing condition means a sickness or accidental injury for which you, in the six months before your insurance, or any increase in the amount of insurance under this certificate takes effect, have:

• Received medical treatment, consultation, care or services; or
• Taken/took prescription medication or had medication prescribed

You will not receive benefits for a loss due to a pre-existing condition unless the disability begins more than 12 months after the effective date of your coverage.

The intent of this program for insurance is to insure against unforeseen accidents, illnesses, or injuries that arise after the effective date of the policy. The intent is not to insure against known illnesses.

If you have a pre-existing condition for which you desire an assurance or guidance as to whether the condition will be covered, the condition must be fully disclosed to MGIS underwriters and such condition will then be either specifically accepted, accepted at special terms and conditions, or declined. An endorsement confirming terms of coverage or condition exclusion will be issued to your policy.

You can return your certificate of insurance within 10 days of receiving it and be given a full refund of your premium payment.

You will not be eligible for simplified issue. Instead, you must complete a detailed health questionnaire and may need blood or urine testing. Also, you may be turned down for coverage.