Physician Disability Insurance (DI) Benefit

For questions or assistance with enrolling, contact us at (855) 434-7762 or via e-mail at info@PSMADI.com

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Special Policy Features for PSMA Connect Physician Policyholders:

 

Guaranteed Standard Issue Coverage

Coverage is provided on a guaranteed standard issue basis (i.e. no physical exam is required).

 

Group Discount

PSMA has negotiated a 30% discount from Lloyd’s of London.  You will see rates specific to your age when you click Enroll Now and enter your date of birth.  To see a list of all rates, click here.

 

Portability

Your coverage is fully portable (i.e. the coverage does not end if you change employers and continue to pay premiums).

Coverage Summary:

 

Term of Insurance

5 year(s)

 

Elimination Period

12 months

 

Maximum Lump Sum Benefit

Never more than 10 times annual income.  (For example, if selecting a $2,000,000 Lump Sum, your annual income must be at least $200,000.)

 

Maximum Issue Age

59

Important Policy Features:

 

THE LUMP SUM BENEFIT:

means that if solely due to an Accident or Sickness, You are not able to perform the substantial and material duties of Your Occupation and in the opinion of Competent Medical Authority recovery from such disability is not expected, even if You are at work in another occupation.

 

TRUE OWN OCCUPATION DISABILITY DEFINITION:

“Your Occupation means the occupation (or occupations, if more than one (1)) in which You are gainfully employed for the majority of the time during the twelve (12) months prior to the time You become disabled.  If You have limited Your Occupation to the performance of the substantial and material duties of a single specialty We will deem that specialty to be Your Occupation provided that Your industry widely recognizes that occupation as a specialty.”

 

TERM OF INSURANCE:

the period of time that the policy is non-cancellable.  Neither the terms of the policy nor the premium can be altered by the insurance carrier provided you pay your premium on time during the five year term of insurance.

 

PASSIVE WAR AND/OR TERRORISM:

they are covered unless the act includes the use of nuclear, biological or chemical weapons.

 

PRE-EXISTING CONDITION:

a condition, disease or injury for which medical advice, diagnosis, care or treatment including but not limited to the use of prescription medication was recommended by or received from a licensed health care practitioner during the three (3) months immediately preceding the Retro Date, and/or any symptom, condition, disease or injury which would have caused an ordinarily prudent person to seek medical attention during the three (3) months immediately preceding the Retro Date, and will remain a Pre-existing Condition until a twelve (12) month period from the Retro Date on this certificate has expired.  No benefits are payable for any disability resulting from a Pre-existing Condition occurring prior to the conclusion of the twelve (12) month period from the Retro Date, even if the disability continues beyond the Pre-existing Condition period.

 

RETRO DATE:

the date that your Monthly Disability Benefit or Lump Sum Disability Benefit was first effective provided Your coverage has been continuous.  If additional benefits are purchased following the Retro Date, the Retro Date for those additional benefits would be the date the additional benefits become effective provided that Your coverage has been continuous.

 

STANDARD POLICY EXCLUSIONS:

Not covered by the certificate of insurance include: Suicide or Intentional self inflicted injury or poisoning; committing or attempting to commit a felony; taking illegal or non-prescribed drugs, or addiction or misuse of prescription drugs; alcohol abuse or addiction, or being under the influence of alcohol as defined by the vehicle code of the state or province in which the accident has occurred; mental and/or nervous disorders; pregnancy and pregnancy related conditions; nuclear, biological or chemical exposure as a result of terrorism or war; active participation in terrorism or war.

The above overview is designed to provide a brief description of the key features of the PSMA Connect Physician DI benefit.  Please see the actual policy issued by Lloyd’s of London for specific provisions.

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Questions? Contact us at (855) 434-7762 or via e-mail at info@PSMADI.com