Insurance Recommendations

[Rocha way]

What are the best companies at this time to get life insurance and LTD? I know they have some older posts convening this but things change in medicine as we all know.

Thanks

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[teeva]

From what I remember when I did my research, Gaurdian and one other company are the only ones offering true own-occupation disability insurance.

 

[MD Financial Services Scott]

Depending upon what you are needing in benefit or duration on the life insurance just make sure the premiums are fixed and level for the entire duration you are looking for. In 2015 the carriers we are mostly finding doing a great job at low cost for term life are Lincoln, Transamerica, Ameritas, Banner, Ohio National, Protective, and Prudential.

As for Disability Insurance, it depends on the definitions of disability that you want and the state that you live in as to what products are available for sale there. In most states today the carriers with the best definition of disability are from MetLife, Standard, Ameritas, Principal, Guardian, Mass Mutual, and Ohio National. Now keep in mind that all of these will change premiums based on age, gender, medical specialty, and state of residency so make sure you work with an agent that is very familiar with this process.

 

[deleted162650]

I have own-occ through Standard

 

[MD Financial Services Scott]

Standard certainly does a good job for sure, a touch higher premiums than most of the market today for newly issued policies but a good contract and benefits that go age 67 as a rule vs. age 65.

 

[sethco]

I have own occupation through both Metlife and Principal. Principal is cheaper, but Metlife allows for mental health disorders (not that I am anticipating such, but good to have)

 

[Man o War]

I have a good friend who's an anesthesiologist on disability. He had 3 separate polices for LTD, and he told me Principal was by far the most fair and easy to deal with when the time came to cash in. My agent, who writes for several different companies, also recommended Principal above the others, and he has 30 years experience dealing with claims, so I trust his judgment. My policy with Principal is true own occupation, which is really important when you're reading fine print on these policies. I had a terrible agent before, and I was naive, and ended up purchasing a policy that (in the fine print) said I had 2 years worth of full disability, then it would cut off if I was able to do ANY job.