This exclusive benefit is offering:
This benefit is available on guaranteed issue basis, which means no medical exam or medical questions asked. Plus, the benefit is paid in addition to your current in-force coverage with no offsets. The purpose of this plan is to:
This special offer is available only until August 14, 2015, when the enrollment period ends. and is possible due to your relationship with Danna-Gracey. Please contact Wes Caldwell at 888-284-4196 if you have any questions about this unique program.
When you have an accident, illness or stroke that prevents you from working in your own occupation, probable results include:
A disability can devastate your family’s lifestyle and cause a catastrophic loss of your retirement funds at age 65.
Acquiring more disability insurance is the answer, however:
Danna-Gracey has negotiated a disability program that will pay you up to $3,000,000 in lump sum benefits if you have a disability that prevents you from working in your own occupation.
Here is an example:
Ralph Jones is a 54-year-old surgeon whose total earned income is $425,000. After having a career ending accident or illness that income – and ALL his retirement plan contributions – stop.
While Dr. Jones has the benefit of an individual disability policy of $10,000 a month, that income is not sufficient to protect him and his family from experiencing a painful loss of income and change in lifestyle.
Assuming Dr. Jones were to retire at age 65, the loss he and his family will incur is a staggering $4,250,000*.
Now Dr. Jones can buy a guaranteed issue lump disability policy through Lloyd’s of London up to $3,000,000 in benefits.
For more information on the unique benefit, contact Wes Caldwell at 888.284.4198.
The purpose of the plan is to provide you with additional tax-free disability insurance benefits to help you and your family maintain your standard of living – and to continue your retirement contributions – when you have an accident, illness or stroke which prevents you from working in your own occupation.
Your maximum guaranteed issue benefit available cannot exceed 10x earnings up to a maximum of $3,000,000.
To qualify for guaranteed standard issue coverage, you must apply during your initial enrollment period and have been actively working for the 180 days prior to, including the date of your application and not have received disability benefits in the past five years. If you do not enroll during your initial enrollment period, in order to obtain coverage in the future, proof of good health is required by answering medical questions and/or having a medical examination.
You may be required to show evidence of insurability (proof of good health) and/or a medical exam for future increases under the guaranteed issue program
Yes, if you qualify you can apply for additional lump sum benefits with full financial and medical underwriting requirements.
When you are Permanently and Totally Disabled and the 12-month Elimination Period has been met.
That as a result of a covered injury or sickness, you are permanently and totally unable to perform the substantial and material duties of your practice or specialty, as shown on your policy certificate for 12 months; you are not expected to be able to perform those same duties for the remainder of your lifetime; and you are under the regular care of a physician that is appropriate for the condition causing the disability.
A physician has Parkinson’s and can no longer conduct the daily activities of his practice.
The claim will be paid as it is not expected he will be able to continue his practice due to the effects of the disease. A dermatologist has a serious stroke and can no longer practice.
If the residual effects of the stroke – such as a partial paralysis of an arm or leg, or the inability to speak clearly – are expected to prevent her from ever performing the substantial and material duties of her specialty, the claim will be paid.
A surgeon loses the use of his hand in an accident.
He will be paid because he will never be able to perform the duties of a surgeon.
A surgeon suffers from Multiple Sclerosis and is no longer able to operate, but can still teach and provide cognitive professional services.
She will be paid because she is not expected to be able to practice in her specialty as a surgeon even though she can work in another occupation. An ENT physician is treated for colon cancer with surgery and radiation and can no longer perform procedures in the operating room (OR) due to his inability to stand for the full length of a procedure. If he recovers from the effects of his treatment and is expected to return to performing all of the material duties of his practice he will not be paid. On the other hand, if the residual effects of the surgery and radiation are expected to make it impossible to perform standard OR procedures to treat eye, ears, nose or throat conditions, the claim will be paid even if he can work in another occupation.
These are hypothetical claims examples to demonstrate what “Permanently and Totally Disabled” means. All claims will be decided in terms of their actual conditions and circumstances.
Yes, but your current in-force benefit plus the new benefit that you are applying for cannot exceed the maximum guaranteed issue amount for which you are eligible.
Yes, all benefits are income tax-free under the IRC Section 104(a)(3) if the premiums are paid with after-tax dollars.
No, the policy is designed to be used to supplement your existing coverage, not to replace it.
To qualify for guaranteed issue, you must have been actively at work full-time in your practice for 180 days preceding the open enrollment period, have annual net earnings of at least $100,000, and have not been paid disability benefits in the past five years.
Yes, protection is worldwide, 24/7.
Premiums are due during the 12-month period after the start of a disability. At the end of the 12 months when you have been paid your lump sum benefit, all of the premiums paid during this 12-month elimination period will be refunded to you.
Lloyd’s of London. Its current financial ratings are:
Standard and Poor’s A+ (Excellent) Fitch A+ (Excellent) A.M. Best A (Excellent)
For five years less one day.
The policies are written for a term of five years and premiums are guaranteed for that time. At the end of the term, the insurance company has the option to renew the policy and to adjust the rates based on new census population and experience.
Yes, with the exception of nuclear, chemical, or biological terrorism.
The effective date as shown on the policy.
You will need to provide a new income statement, verification of your occupation and it will be subject to underwriter approval.
Not necessarily. It depends upon the condition that caused the interruption in work or the disability.
You can return your certificate within ten days of receiving it and receive a full refund of your premium payment.
If the loss is caused by, or the result of:
A pre-existing condition is one for which (1) an insured received medical advice, or treatment was recommended or received from a physician during the 12-month period before the effective date of coverage, or (2) had symptoms that were present during this 12-month period that would cause a reasonably prudent person to seek advice or treatment from a physician.
The policy does not provide benefits for a loss due to a pre-existing condition unless the loss begins more than one year after the effective date of the policy certificate, or the insurance company has agreed to cover it.
Enrolling is simple and should take less than five minutes with no paper applications. Open enrollment will begin July 7th, look for more details coming soon.
This Questions and Answers material is a summary of important policy provisions. It is not a contract or proposal. In all cases, the actual terms and provisions of the policy will govern.