Equality

10+ Year Member
May 7, 2009
274
33
Status
Attending Physician
I'm finishing ophtho residency and considering purchasing disability insurance. Can someone tell me what's a reasonable premium for a woman in her early 30s with no medical/psych history? What are you paying for your monthly premium? I get quotes ranging from $230 to $410! It's a huge range!


Things I want in my insurance (all normal stuff):
True own occupation
Benefit of $5000/month for now
Future increase option (duh)
90 day waiting period
3% compounded cost of living adjustment
Residual/partial disability benefits
+/- catastrophic coverage
Coverage to age 65
 

pianist

Member
15+ Year Member
Jan 31, 2004
55
7
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$400 on the upper range seems quite high for only $5000 monthly.

Unfortunately, women’s premiums tend to be more expensive than men.
 
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sunday

10+ Year Member
Nov 15, 2006
14
1
Status
Resident [Any Field]
i first bought my insurance around age 32. female, healthy, no medical conditions. bought principal. $5000 benefit, 90 day elimination period, true occupation. my premium was about $2000 per year after 25% discount. look for an agent who can offer you a 25%-30% discount (i think the agent must have sold at least a few principal policies in order to get this discount because the other guy i talked to wasn't able to offer me this).
 
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Rhexis

5+ Year Member
Apr 13, 2014
37
16
Status
Attending Physician
First bought at age 32, male, healthy. $8,145 monthly benefit ($97,740/year). Monthly cost for my plan is $262. I have true own occupation, noncancellable rider, future increase option up to 150k/year, payable to age 67, 90 day waiting period, 3% increased cost of living rider, residual benefit of disability rider. Purchased as a resident.
 
Feb 27, 2014
325
88
Denver, CO
www.mdfinancialservices.com
Status
Non-Student
I'm finishing ophtho residency and considering purchasing disability insurance. Can someone tell me what's a reasonable premium for a woman in her early 30s with no medical/psych history? What are you paying for your monthly premium? I get quotes ranging from $230 to $410! It's a huge range!


Things I want in my insurance (all normal stuff):
True own occupation
Benefit of $5000/month for now
Future increase option (duh)
90 day waiting period
3% compounded cost of living adjustment
Residual/partial disability benefits
+/- catastrophic coverage
Coverage to age 65
Depending on the design you want actually settle in on and if there are others that also want coverage you can probably buy that coverage for $30-$40 per month per $1,000 of monthly benefit as a female, $20-$25 per month per $1,000 of benefit for a male.
 
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