Easy Income Protection for Medical Residents

February 24, 2021
Stacked Money and Piggy Bank

Updated April 19, 2021

Most residents and fellows are on a strict budget during their training. And they expect that their huge investment of time and money will reward them with a long and lucrative career. We want to make sure they can count on that future income if they’re unable to work due to a sickness or injury.

That’s why we make it easy for residents to lock in The Standard’s rich Platinum Advantage coverage at the benefit amount that’s right for their current situation.

Go Small, Medium or Large: Benefit Choices

All applications must be TeleApp, which automatically places the application in Simplified Underwriting, if eligible.

Small - As Low as $1,000 Monthly
Any time during training
Residents and fellows can buy a budget-friendly base policy by starting with a benefit as low as $1,000. The policy will include a Benefit Increase Rider that allows them to increase coverage later when they’re earning more.

To be eligible for the Benefit Increase Rider, most applicants must accept at least 75% of the base coverage they're eligible for. But we waive this rule for residents and fellows.

Medium - Up to $7,500 Monthly
6 months before - 2 years after completing training
Residents, fellows and new physicians can get up to $7,500 monthly with no proof of income.

Large - Up to $20,000 Monthly
6 months before or any time after completing training
Residents and fellows in the six months before or after completing training can secure benefits up to issue and participation limits with no medical labs or exams required. Only proof of income, such as a signed employer contract, is needed. Six months after completing their training, a physician may apply for up to issue and participation limits with both proof of income and medical labs or exams.

Let your residents know that it’s easy to buy income protection insurance from The Standard. Share the Platinum Advantage for Residents flyer to highlight benefit flexibility and the strong features of Platinum Advantage.

And don’t forget to tell them they’ll save 15% just for being a resident. Be sure to check that their institution is eligible for the Residency Discount.


Sales Insights / Underwriting