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disability insurance

Discussion in 'Emergency Medicine' started by whasupmd2, Feb 19, 2007.

  1. whasupmd2

    whasupmd2 Member
    7+ Year Member

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    Met vs. guardian: I know that guardian here has been touted as the one of the best disability claims to get. However, I was wondering what people have heard about Met? The premium is quite a bit less, and it provides a higher maxmimum coverage with (at least seems like it, same perks? e.g. I was told their "transitional your occupation" is the same as double dipping that makes Guardian great). I was wondeirng if anyone had any experience with this or heard anything different. thanks!
     
  2. rxfudd

    rxfudd 1K Member
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    I know you asked specifically about Met, but I went with Guardian. Just for your comparison, the package I got was:

    - $2500 monthly in coverage now (could have done $3500, but didn't want to pay for the increased premiums right now)
    - Potential for up to $6500 additional monthly once I'm making attending salary
    - 90 day elimination period
    - 3% COLA rider (and a second claim would begin at the amount the previous claim ended at)
    - Residual disability rider
    - Own occ, specialty specific
    - Got policy at 26 years old, no health problems, nonsmoker
    - $1062 yearly now ($91 monthly), premium increases by a few bucks each year until 35 or so, and then it starts really to increase by a lot from year to year. However, I can lock in at a rate of about $1500 annually for life at this time. That figure will change significantly when I add the $6500 in coverage after residency, and will be more like $3K-$5K per year. Still, will be able to lock that rate in for life at a premium set for the age of 28 (i.e. paying flat $4000 or so per year from age 28 through retirement).

    Remember, you must pay for disability insurance post tax for any distributions to be tax free.
     
  3. zeitgeber

    zeitgeber CMG doc
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    what's double dipping?
     
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