Highlight The Standard’s Resident Opportunities With Your Producers
We’re committed to providing hassle-free quality income protection at an exceptional value to residents and fellows. We recently made underwriting changes to make it easier than ever for physicians and dentists to apply. And, you may have noticed the new Platinum Advantage for Residents flyer last week in the IDI Connect.
Make sure your producers are using the resources available to sell to residents and fellows. Want help reaching out to them? It’s easy with the email message below. You can cut and paste it into your own email to producers. Then add your own “call to action” at the end.
The Standard’s Platinum Advantage — An Excellent Choice for Residents
Looking for hassle-free and quality income protection for your resident and fellow clients? The Standard’s Platinum Advantage is an excellent option. The strong contract can be combined with for-residents-and-fellows-only underwriting rules to provide an easy application process and exceptional value.
Platinum Advantage offers “specialty” coverage, increase opportunities and residual coverage. It also includes the Family Care Benefit, only available from The Standard. Share the Platinum Advantage for Residents flyer to show them why The Standard’s Platinum Advantage is an excellent choice.
Plus, The Standard recently optimized its Simplified Underwriting rules for residents. Residents can now apply for new-in-practice limits ($6,500 or $7,500, depending on specialty) with no income documentation or medical exams. All others may only apply for up to $6,000 in monthly benefits using Simplified Underwriting. This means your resident and fellow clients ages 18-45, in the six months before or after completing training, can access $500 to $1,500 more in monthly benefits with Simplified Underwriting.
You can also offer a 10 percent discount to your residents when three or more apply from the same institution. If you have resident clients at an institution, make sure you’re taking advantage of this discount! You can establish the discount with three applications, or the institution may already have a discount established. Find established discounts on The Standard’s Residency Discount Institutions web page.
Reminder: you can also copy and share last week’s IDI Connect article. However, don’t forward your IDI Connect emails! Forwarding your IDI Connect emails could result in your removal from our e-mail list. If you forward an email from The Standard and the recipient clicks on “Unsubscribe,” they’ll inadvertently unsubscribe you from all future emails.
Please make sure all resident applications include the institution’s name and program number on the Producer Information Report. This will allow us to track applications to establish or maintain Residency Multi-Life Discounts. Please reach out to your regional director if you have any questions about resources for selling to residents or the Residency Multi-Life Discount.
Jared's Story: Time for Family
Age: 36 - Occupation: trial attorney - Married, one child
How the Family Care Benefit provided the ability to care for a loved one
Jared's daughter was born with a heart defect. They visited multiple specialists to diagnose the condition and determine the appropriate treatment. Then his daughter underwent surgeries, hospital stays and months of follow-up appointments. Benefits from Jared’s Platinum Advantage policy helped make up for the income lost when Jared spent time away from work to attend physician appointments and to be with his daughter in the hospital and throughout her extended recovery — providing peace of mind during a trying time.
Supportive Office Equipment
Age: 42 - Occupation: accountant - Married, no children
Assistance on the road to recovery through a rehabilitation program
Jody's role as an accountant at a small firm requires a lot of computer work. After sustaining a serious back injury from a car accident, Jody was totally disabled under her Platinum Advantage policy. Jody’s doctor recommended she purchase assistive equipment to help her work comfortably at her desk without aggravating her condition. She was able to return to work full time after participating in a rehabilitation program in which expenses for a sitstand desk and other ergonomic accommodations were paid for under her Platinum Advantage policy. These modifications helped ensure she could return to work safely, without hindering her recovery.
David's Story: Starting a Medical Career
Age: 33 - Occupation: dermatology physician - Single, no children
Benefits that match career growth through the Benefit Increase Rider
David is completing his dermatology residency and just accepted an offer at a private practice. Before the end of his residency, he purchased a Platinum Advantage policy that included the Benefit Increase Rider, knowing his income will rise significantly after he starts his first post-residency job. The benefit also will allow his policy to grow with him as he progresses in his career and receives additional salary increases. David values the fact that his coverage going forward will match his developing career.
Jason's Story: Accidents Happen
Age: 35 • Occupation: orthopedic surgeon • Married, two children
Finding work in a new occupation with the Own Occupation Rider
Jason injured his right hand in an accident and was unable to return to his job as an orthopedic surgeon because he couldn't perform surgery. Due to his medical training, he was able to return to work as a family medicine physician. Jason was considered totally disabled in his regular occupation as an orthopedic surgeon — even though he earns an income from another occupation as a family medicine physician — because of the own occupation definition of total disability included in his Platinum Advantage policy. Because of this, he receives the policy's full basic monthly benefit, in addition to the income he receives in his new position.