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Talk Benefit Increases With Resident Clients

You’re in a great position to help your clients as they transition from residency or fellowships to their practices. As their incomes increase from residency levels, your clients need more income protection. 

With Platinum Advantage, your clients have increase opportunities as they complete training and move into their medical practices.

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  • Special $7,500 limits for new physicians
    If within six months of completing training or in the first two years of practice, residents and fellows can increase their monthly benefit to $7,500 with no financial underwriting. 
  • Accelerated benefit
    Residents and fellows can apply for an accelerated benefit increase six months before beginning employment or within 12 months of training completion, for coverage up to Issue & Participation limits of $30,000 with an executed employment contract or financial documentation.
    With this option, they have special exemption to our normal qualifying events for the accelerated benefit. 

    Your clients can also apply for a traditional acceleration option. They would need to show an involuntary loss of long term disability coverage or a 30% or greater increase in income. Either of these option applications must occur within 90 days of the event.   

Be sure to use the Increase Option eApp* for a convenient, online increase application experience.

For more information, check out the Income Protection for Residents flyer. Your medical clients can use these strategies and opportunities to protect their financial futures and income.

For questions about increasing coverage for residents and fellows, contact your general agent.

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