Disability Insurance and the Medical Management Company

[cchoukal]

I know the issue of disablity insurance has come up here before, and I'm acquainted with the generalities (getting disability for your specialty, if possible, getting insured before graduation, etc.). I received a form letter from a Medical Management Company out of Pasadena; they sound like a broker or clearinghouse for disability insurance policies. They claim that only 2 insurers will insure for a person within their specialty and that these types of policies are likely to disappear soon. I know they're just trying to create fear and a sense of urgency so that I'll give them my money, but I wanted to see if anyone here had dealt with this group, or with getting insured (either as a resident or professional). How do you know who's good/bad, what are good rates, etc?

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[TofuBalls]

This sounds like the group that contacted me in my CA-3 year. Got a call on my cell phone out of the blue from this guy. Sounded nice and knowledgeable. Funny thing is that he said he couldn't disclose who gave him my number. He said someone I knew recommended me to him.

Long story short, I filled out an application with them and things did not go well.

I met (face to face) with a local agent and everything went smoothly. I highly recommend actually meeting with your agent and discussing everything in detail.

Also, if you have seen a doctor in the last two years or have taken any prescription medications, this will be disclosed in the application process. The insurance company will then use this to deny your application.

So, ask some of your buddies around the water cooler who they used and then give them call.

 

[pd4emergence]

The two big companies are met life and guardian. There are some smaller companies out there. You can look around at these smaller companies but the most important thing is to get a good policy that you plan on keeping for as long as you work. IMO, paying a little more to go with one of the major companies is worth the extra money. To find an agent I would talk to some of the graduating residents from last year and other residents in your class. If you already have a job, talk to some of the MD's in your future practice to see who they used. Try to get quotes from at least the two major companies. Get the agent you find to explain the differences in policies. The most important thing is to find a good agent that you can reasonably trust. Good agents don't usually have to use scare tactics to get you to buy a policy. Good Luck.

 

[jwk]

This sounds like the group that contacted me in my CA-3 year. Got a call on my cell phone out of the blue from this guy. Sounded nice and knowledgeable. Funny thing is that he said he couldn't disclose who gave him my number. He said someone I knew recommended me to him.

Moral of this story - don't deal with people who "cold call" you.