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A Few Minutes About the Rest of Your Life

A Few Minutes About the Rest of Your Life. Your Career, Your Income & Your Future.

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A Few Minutes About the Rest of Your Life

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  1. A Few Minutes About the Rest of Your Life Your Career, Your Income & Your Future Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Disability income products underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America, New York, NY or The Guardian Life Insurance Company of America, New York, NY. Products and features may vary from state to state. 8532-08-10 2010-8266

  2. Investment in Your Career • Years of education & training • $$$,$$$

  3. What Are Your Professional and Financial Goals? • Developing your specialty • Building a practice • Purchasing a home • Starting a family • Accumulating assets

  4. Protect the Foundation Income

  5. What Causes Disability? Source: 2010 Long-Term Disability Claims Review, Council for Disability Awareness

  6. Income Protection:What are Your Options? • Employer-provided group coverage • Professional association group coverage • Individual disability insurance

  7. Income Protection:The Important Questions • Can the insurer… • cancel coverage? • modify the terms of coverage? • raise my premiums? • Am I protected in my specialty? • Can I obtain adequate coverage? • Can it be tailored to my needs? • Can I carry it with me?

  8. Group Disability Insurance Plans

  9. Association Coverage • You purchase a set benefit • Insurer can modify or cancel coverage • Costs are not guaranteed • Limited optional benefits • May not adequately protect you in your specialty

  10. Individual Disability Insurance • Most generous level of benefits • Broad array of options • Policy individually owned

  11. Key Benefits to Look For • Non-cancellable and guaranteed renewable • True “own-occupation” protection with specialty language for medical professionals

  12. Details to Consider • How long do I want to wait before benefits begin? • How long do I want benefits to last? • How much benefit can I get?

  13. Details to Consider • Am I protected if partially disabled?   • What happens when I recover, but continue to have a loss of income? • Can I guarantee my right to increase coverage in the future? • Will my benefit keep pace with inflation when I’m disabled?

  14. Why Now? • You’re young and healthy • Low premiums • Guarantee your right to maximum coverage

  15. Special Issue Amounts for Medical Residents • Monthly benefit: $5,000 • Future Increase Option: $11,000 Plus… • Catastrophic Disability Benefit: $5,000

  16. Next Steps

  17. Protect Your Income andYour Future

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