3 Reasons for Residents to Love Platinum Advantage

February 26, 2020

Physician residents see firsthand how often an injury or sickness can occur. And how an unexpected disability can have a devastating effect on a person’s income.

With this knowledge, resident clients may be thinking about ways to protect their own income. Make sure their income is insured if they’re unable to work for a prolonged period of time due to disability.

Start the Conversation With 3 Reasons


1.     We built Platinum Advantage with physicians in mind.

These are some features residents will value if they ever need to make a claim.

  • Two no-cost built-in increase riders let eligible policyowners increase their coverage in the future to keep pace with rising income.
  • Residual riders offer coverage while at work or returning to work.
  • The Student Loan Rider provides a benefit to cover student loan payments.
  • And the Own Occupation Rider provides own occupation “specialty” disability coverage.

2.   Residents can choose the benefit amount that’s right for them.

Start low: Residents can save money by starting with a base policy that includes monthly benefits as low as $1,000. Use a TeleApp so they can lock in eligibility to increase coverage later when they’re earning more.

Start mid-level: Apply for up to new-in-practice limits — $6,500 or $7,500, depending on medical specialty — with no proof of income required. They’re eligible during the six months before they complete their training and during their first two years of practice.

Cover it all from the start: Residents and fellows can get up to $20,000 with an employment contract. They must be within six months of starting their new job.

3.   We make it easy for residents with Simplified Underwriting.

Take advantage of The Standard’s special Simplified Underwriting rules for residents. Residents within six months of completing training (before or after) can use Simplified Underwriting in two ways:

  • Apply for up to new-in-practice limits with no proof of income or labs required.
  • Does your client already have an employment contract? Physician residents can submit the signed contract or recent paystub with the application to secure a monthly benefit up to issue and participation limits. No labs required.

A TeleApp is required to use Simplified Underwriting. And don’t forget to use the Residency Discount to capture 10% savings for your resident clients.

Share the Income Protection for Residents flyer. It highlights Platinum Advantage’s strong contract provisions and flexible underwriting for residents.

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