SALT LAKE CITY, UT, November 20, 2008
/24-7PressRelease/ -- Medical Group Insurance Services, Inc. (MGIS) is pleased to introduce high-limit individual disability coverage for high-earning physicians and surgeons. Insured by Lloyd's of London, this coverage is ideal for high-income earners who need additional income protection beyond their Group Long Term Disability (LTD) and Individual Disability Insurance (IDI) coverages.Designed for those who earn more than $300,000 per year, this specialized coverage can be layered on top of existing Group LTD coverage and IDI plans. It provides an additional layer of benefit protection that covers up to 70% of total income."Our MGIS high-limit coverage uses group underwriting practices to give individual earners the highest disability coverage anywhere," notes Larry Tallman, Vice President of Sales and Marketing at MGIS. "Coverage is guarantee issue and based on the number of eligible and participating physicians. The policy is fully portable if they leave the practice."The coverage includes a true "own specialty and sub-specialty" definition, which means physicians and surgeons will be considered totally disabled if they cannot perform the material and substantial duties of their specialty or sub-specialty, even if they can work in another occupation. Other features include a three-year rate guarantee and up to a five-year monthly benefit plan with available lump-sum benefit. Options include a lump-sum payment rider for up to five times annual salary, a Cost-of-living (COLA) Benefit, Mental/Nervous and Drug/Alcohol Benefits, and residual disability protection. "Physicians and surgeons will not be required to make any changes to their existing Group LTD coverage or IDI," concludes Tallman. "This means the process of obtaining the increased income protection is greatly simplified."
About Medical Group Insurance Services, Inc. MGIS provides specialized group life and disability solutions for physicians and their staff. We've marketed and administered these unique solutions for 40 years.Dedicated account managers service these coverages, and all claims are expertly adjudicated by an experienced physician-group-only claims unit. Our Group LTD policy is designed to eliminate policy provisions that can penalize a physician at claim time. Our policies are backed by Sun Life Financial, one of the largest and highest-rated insurance companies in North America.With a rich tradition of service excellence, MGIS works hand in hand with local brokers and benefit advisors, and has served more than 4,500 physician groups and 120,000 physicians since 1969.
For More Information About MGIS
Larry Tallman, Vice President Sales and Marketing
larry.tallman@mgis.com
801-990-0184, cell 435-729-0050
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