Committee of Interns and Residents
Guaranteed Issue Disability Insurance
About the Offering
The Committee of Interns & Residents Individual Disability insurance program guarantees its residents and fellows the right to secure permanent and portable income protection during and after their training program.
Guaranteed Supplemental Coverage During and After Training
Guaranteed Supplemental
Coverage During and After Training
Full time benefit eligible residents and fellows, from the beginning of your training program until your final year, you may obtain up to $15,000 of specialty specific disability insurance coverage that can increase the amount of income you would receive during an unexpected accident or illness.
This individual policy is offered without having to complete any medical questionnaires, any medical tests or labs and will be issued regardless of any current or previous medical history†† and with permanent and portable premium discounts.
Terms of Coverage
-
Monthly Benefit:
You can receive an initial tax-free benefit of up to $500 per month, with the option to defer up to $13,500 per month for future coverage, totaling up to $15,000 of available coverage. -
Waiting Period:
90 Days -
Benefit Period:
To Age 67 -
Definition of Total Disability:
Own Occupation with Medical Specialty language for the length of the benefit period -
Permanent Premium Discount:
10% -
Riders Included:
Enhanced or basic Residual (Partial Benefit), Student Loan Protection, Catastrophic, 3% Cost of Living. Future Insurability Option
†† This benefit is not available to dental residents or to any applicant who has been previously declined coverage or received modified coverage offers by any carrier other than Guardian. A separate conversion option is available for dental residents and declined applicants. Please contact our office for more information.
The disability income coverage offered through this Program is not a benefit of employment by the Committee of Interns and Residents or any affiliated hospital or entity.
24 month mental nervous/substance abuse limitation. The applicant must not have been declined or postponed prior to the application date, for any individual or group disability income insurance coverage with any other insurance company. This is only a general description/outline of coverage. For specific plan language or to request assistance please contact InsMed Insurance Agency, Inc at [email protected], 800-214-7039 or www.insmedinsurance.com
Request a Personal Proposal
The terms and pricing of the CIR Disability Program allows you to select from a range of benefit amounts and several optional plan provisions. To obtain a personalized proposal or to arrange a time to speak with a local representative please complete the information requested below.
Keep Me Informed
Please complete the following information to learn more about the nuances of disability insurance and the CIR “Guaranteed Issue” offering
- Information about the issues associated with income protection
- On-site or virtual lectures for your department
- Reminders as you near graduation
- Product changes that may affect the rates or terms of coverage
Income Replacement Calculators
FAQs
How does this coverage differ from the Group Long-Term Disability Insurance Benefit provided by my employer?
This coverage is offered through an individual contract that can be maintained throughout your training program and career. It is designed to protect your ability to perform your “own specialty” for the duration of any claim and can guarantee your right to increase the monthly benefit during your practice years.
How much coverage can I obtain during my training program?
Does this coverage include any rate discounts?
Yes, these policies will include a permanent 10% discount
If I apply for an individual disability coverage from another insurance company and am denied, will this affect my opportunity to secure the CIR Guaranteed Issue portable policy?
Will this policy be reduced by the CIR long term disability insurance policy or coverage provided by a future employer?
The benefits provided through this policy will not be offset by any benefits you receive during or after your training program.
Can the term of coverage or the rates be changed at any time?
Once this policy is issued, the insurance company cannot change the policy’s definitions and the rates are guaranteed not to increase until you reach Age 65.
Are the benefits available from this policy taxable or tax-free?
If you are paying for this coverage personally the benefits will be tax-free.
Do rate discounts apply to the amount I initially apply for or will they be included in future increases of coverage?
The rate discount will apply to the initial policy amount
Will this policy insure all of my practice income or just my base income?
An individual policy can be used to insure a physician’s basic monthly salary and any performance-based compensation.
Will I be insured for my ability to perform my own specialty?
Yes, the coverage will insure you for the duties of the specialty you are performing at time of claim.
Does this policy provide protection if I am working in a reduced capacity during a recuperative period of from the initial onset of an accident or illness?
Yes, this coverage is designed to provide a proportionate benefit once you satisfy the waiting period and benefits will continue until you reach the end of the benefit period or the percentage loss of income falls below 15%.
Is my benefit protected from inflation during a long term claim?
Yes, the policy includes a cost of living provision that will increase the monthly benefit by 3% on each policy anniversary during a claim.
How soon are benefits provided?
Benefits will be provided after 90 days days of total or residual (partial loss) disability.
How long will benefits be provided?
Benefits will be provided until you reach the Age of 67 or no longer satisfy the definitions of total or residual disability
Are there any other special provisions available through this coverage?
Yes, you can elect to include a Catastrophic Benefit Rider that will provide up to $10,000/month if you are unable to perform activities of daily living due to an accident or illness.
