The Ameritas DInamic Foundation disability insurance policy stands out as one of the strongest in the industry when it comes to providing true own occupation coverage, particularly for physicians. This policy ensures that if a physician becomes disabled and can no longer perform the duties specific to their medical specialty, they will still receive full benefits—even if they are able to work in another occupation.
This specialty-specific own occupation coverage is crucial for physicians, as it allows them to focus on recovery without the fear of losing financial stability due to an inability to perform their specialized duties. Whether you’re a surgeon, anesthesiologist, or any other medical professional, this definition ensures comprehensive income protection tailored to your unique career.
Key Features of Ameritas DInamic Foundation:
- Comprehensive Own Occupation Coverage:
- The policy’s own occupation and specialty-specific definition is ideal for physicians. You can still receive benefits even if you’re able to work in another specialty or occupation, as long as you are unable to perform the specific duties of your medical specialty. This is of course if the own occupation ride is included but it should be added, if the insured is a physician.
- Flexible Elimination and Benefit Periods:
- Choose elimination periods from 30 to 730 days, and benefit periods of 2, 5, or 10 years, or until ages 65, 67, or 70, allowing you to tailor coverage to your needs.
- Built-In Benefits:
- Includes benefits such as the Nondisabling Injury Benefit, which pays up to 50% of the base benefit for injuries that require treatment but do not cause total disability.
- COBRA Premium Reimbursement: Provides up to $1,000 per month for up to 18 months if you’re unemployed due to disability.
- Presumptive Total Disability: Immediate benefit payments if you experience the loss of sight, hearing, speech, or use of limbs, without requiring the elimination period.
- Optional Riders:
- Residual Disability Rider: Offers enhanced coverage in cases of partial disability, ensuring you are financially protected even if you can work part-time.
- Cost of Living Adjustment (COLA): Choose between a 6% compound or 3% simple annual increase in benefits after one year of disability to protect against inflation.
- Future Increase Option (FIO): Guarantees the ability to increase coverage without medical underwriting as your income grows.
- Student Loan Repayment Rider: Helps pay off student loans in the event of a disability.
- Catastrophic Disability Rider: Provides additional monthly benefits for severe disabilities requiring long-term care.
- Good Health Benefit:
- For every year you do not file a disability claim, your elimination period reduces by two days, incentivizing and rewarding good health.
Ameritas’ DInamic Foundation policy is ideal for physicians seeking specialty-specific protection. The combination of a strong own occupation definition, customizable benefits, and innovative features like student loan repayment and COBRA reimbursement makes it a powerful choice for long-term financial security.