You are approaching a significant milepost towards your career and you are ready to forge ahead. But protecting your greatest asset – your ability to earn a living – might not be at the top of your list of things to do right now.
Most of the trainees we meet are looking for disability insurance that:
– protects their medical specialty (True own-occupation coverage)
– can be taken with them at graduation (portable)
– cannot be changed by the company (guaranteed renewable; non-cancellable)
– can grow with them as their income grows (guaranteed future income options)
– is affordable to meet the budget now; but still protect them as an attending
But sometimes, they might have a pre-existing health condition that makes it difficult to qualify for conventionally underwritten policies.
Guaranteed Standard Issue (GSI) Disability Insurance Offer
All UPMC medical residents and fellows (including those in non-accredited programs) may enroll in this program at any time during their training.
This program allows you to obtain a personal disability insurance policy that pays up to $15,000 a month tax free – on a guaranteed issue basis.
True Own Occupation – Specialty Specific
Portable Policy – 20% Permanent Discount
$3,000 Minimum Monthly Benefit – $15,000 Maximum Monthly Benefit
Enhanced Partial Disability Benefit Rider
3% Cost of Living Adjustment Rider
Future Increase Option
Catastrophic Disability Rider available with qualifying questions
90 Day Elimination Period
Benefits Payable to Age 67
Level Premiums and Graded Premiums Available
Visit your UPMC GME Wellness Page: Guaranteed Standard Issue Program
Higher monthly benefits are available through the UPMC ME Resident’s and Fellow’s Disability Insurance Discount Program. It is recommended that you do the Guaranteed Standard Issue Program first.
**Any resident or fellow who has been declined for disability insurance in the past 5 years may not eligible for this program until 5 years from the date of the decline. This doesn’t apply to those declined by Guardian/Berkshire or those who are within their first 9 months of employment with UPMC. Therefore, you are encouraged to look into this program as soon as possible so that you do not have to wait or miss out completely. Contact us for details.
Residents and Fellows Discounted Insurance Program
All UPMC residents and fellows (including those in non-accredited programs) may enroll in this program at any time during their training.
You may choose to protect your earning power with an even more flexible disability insurance plan. This affordable, portable individual disability insurance policy is eligible for a permanent 10% employer sponsored discount and allows for up to $30,000 monthly benefits. This is a medically underwritten plan and a health history disclosure is required.
Highlights of this policy include potential monthly benefits of up to $30,000 with True Own Occupation coverage that will cover Medical Specialties; Partial benefits to age 65/67; Non-cancellable-Guaranteed Renewable to age 65/67; Benefits payable to age 65/67 or lifetime – Covers both Sickness and Accidents; Standard Rates apply. Additionally, Cost of Living, Catastrophic and Retirement Protection Benefits are also available.
Guaranteed Conversion of your Group LTD to an Individual Policy
UPMC Medical residents and clinical fellows are eligible for this program
During your medical residency or clinical fellowship, you have been covered by a group long-term disability income policy. In addition to providing you income protection during your training, this policy also offers you a guaranteed conversion to an individual policy upon completion of your training. What this means to you – at this very busy time of your life – is that you can take the necessary steps to help protect your career and future income in an easy and convenient manner. This coverage may be obtained by you without providing health history; without undergoing a physical examination or blood work; and without any possibility of being excluded because of a pre-existing condition.
Highlights of this individual policy include guaranteed standard issue of up to $4,000.00 in monthly benefits for total disability protection; Protection of your Medical Specialty and Partial Disability Benefits to age 67; Non-cancellable and Guaranteed Renewable to age 67; Benefit period to age 67 – Covers both Sickness and Accidents; Standard Rates. Your eligibility for this program expires 30 days after your completion date. This program provides convenience for some and a safety net for others. Don’t wait, inquire today.
In addition, you may be eligible for higher levels of coverage (up to $30,000 monthly) through our Residents and Fellows Discount Program. Call today and discover why UPMC Medical Education trainees and graduates choose Hurley Associates.
We’ve seen and understand the different financial stages that you will go through in your lifetime. You’ve just finished training and your income has increased significantly. But, you have a new job and new responsibilities. You have anxiety about loans. You could be packing up and moving across the country. You are buying your first home. You are leasing or buying a new car. You are paying for your wedding. You may be expecting your first child. Your spouse is still in training or perhaps returning to school.
Although still unrealized, you now have a signed contract that will be providing you with more income in one year than you have earned in all your residency and fellowship combined. It will take some time to recognize the full impact of that income and to grow into the expenses that will accompany it. And looking ahead, perhaps the time will come for a partnership buy-in, another child and a bigger house.
Our clients are physicians. In other words, we are physician specialists. It should be clear that we have a very good understanding of the challenges that you face now and will continue to face as you advance through your career. With more than 35-years of experience in this unique marketplace, including a close and ongoing relationship with UPMC, we have gained extensive experience and look forward to sharing that experience with you.