Residents and Fellows - InsMed Insurance Agency

Residents &

Fellows

The path to creating a stable and viable path to financial security begins with making sure you have enough money to meet your financial obligations. Without taking steps to protect your cash flow in the event of an unexpected accident or illness, you’re putting your current and future well-being at risk (as well as everyone who depends on you).

How InsMed Can Help Residents & Fellows

Selecting an income protection policy can be a complicated task and it’s easy to choose a policy that doesn’t contain the provisions you need to protect your current and future income. Our team had decades of experience helping residents and fellows to understand their current employer’s benefits and providing insights into the nuances of these contracts to help them select the policy that best addresses their needs, as well as fits within their budgets.

Are you eligible for Guaranteed Issue Coverage through InsMed?

If you are one of the thousands of residents and fellows training at institutions where InsMed created a “guaranteed issue” offering, you have a unique opportunity to protect your current and future income without having to take any medical exams, answer medical questions or be denied coverage due to a medical condition. Through these offerings you can increase your coverage during training to replace 100% of your income and guarantee the right to dramatically increase your protection after graduation to properly insure your new income.

To learn more the specifics of the plan created by your teaching hospital, call us at (800) 214-7039 or email us at [email protected].

Additional Insurance Needs to Consider

While insuring your income is an important first step in protecting your future, there are other risks to yourself and your loved ones that you should consider. These issues include:

Would you or your loved ones have any ongoing obligations to repay your student loans during a disability?
If you have a private student loan that was co-signed, how would the loan obligation be paid in the event of your passing?
If you are married, have children or are providing money to support family members, have you secured their future in the event of your passing?

To learn more the steps you can take to better protect your financial wellness, call us at (800) 214-7039 or email us at [email protected].

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Residents &

Fellows

How InsMed Can Help Residents & Fellows

Are you eligible for Guaranteed Issue Coverage through InsMed?

Additional Insurance Needs to Consider

Want to see how protected you really are?
Try our In-Practice Income Protection Calculator

Did you know?

Some policies that insure student loan obligations require the insured to be out completely and not be expected to return to work ………ever.

Individual policies can be used to raise the income placement percentage and maximum monthly benefit for employed physicians and executives

Group insurance policies usually only protect base salary

The “guaranteed right” to increase the benefit amount of an individual policy will be reduced as you age.

Most employer provided long term disability coverage will require you to be out for as long as six consecutive months in order to qualify for benefits

Residents and fellows can forfeit their right to a teaching hospital’s “guaranteed issue” coverage if they apply elsewhere and are denied due to medical conditions

Taking medication or seeking counseling to manage stress can affect your ability to secure coverage

If your employer provides you with long term disability coverage for free, any benefit amount provided during a claim will be taxed.

Residents and fellows can insure 100% or more of their incomes during training

Graduating physician who are entering practice can obtain coverage that’s greater than their actual earnings

Rates and provisions of individual policies are guaranteed not to change until the age of 65. The same isn’t true for group or association coverage.

The premiums paid by a practice owner for a policy that insures their ongoing business expenses is 100% tax deductible

Medical underwriting can be waived when a practice purchases individual policies as part of its benefit package

Group long term disability policies can be obtained by practices with fewer than 10 full time employees

Contributions cannot be made into a qualified retirement account in the event of a disability

Business overhead expense policies can cover hiring a locum tenens

Voluntary offerings to large healthcare populations can be offered without medical underwriting and permanently discounted rates.

Already a Policyholder?

Want to Stay Informed?

Looking for a Quote?

Sign Up for Our Newsletter

Residents &

Fellows

How InsMed Can Help Residents & Fellows

Are you eligible for Guaranteed Issue Coverage through InsMed?

Additional Insurance Needs to Consider

Want to see how protected you really are? Try our In-Practice Income Protection Calculator

Did you know?

Some policies that insure student loan obligations require the insured to be out completely and not be expected to return to work ………ever.

Individual policies can be used to raise the income placement percentage and maximum monthly benefit for employed physicians and executives

Group insurance policies usually only protect base salary

The “guaranteed right” to increase the benefit amount of an individual policy will be reduced as you age.

Most employer provided long term disability coverage will require you to be out for as long as six consecutive months in order to qualify for benefits

Residents and fellows can forfeit their right to a teaching hospital’s “guaranteed issue” coverage if they apply elsewhere and are denied due to medical conditions

Taking medication or seeking counseling to manage stress can affect your ability to secure coverage

If your employer provides you with long term disability coverage for free, any benefit amount provided during a claim will be taxed.

Residents and fellows can insure 100% or more of their incomes during training

Graduating physician who are entering practice can obtain coverage that’s greater than their actual earnings

Rates and provisions of individual policies are guaranteed not to change until the age of 65. The same isn’t true for group or association coverage.

The premiums paid by a practice owner for a policy that insures their ongoing business expenses is 100% tax deductible

Medical underwriting can be waived when a practice purchases individual policies as part of its benefit package

Group long term disability policies can be obtained by practices with fewer than 10 full time employees

Contributions cannot be made into a qualified retirement account in the event of a disability

Business overhead expense policies can cover hiring a locum tenens

Voluntary offerings to large healthcare populations can be offered without medical underwriting and permanently discounted rates.

Already a Policyholder?

Want to Stay Informed?

Looking for a Quote?

Stay Informed

Want to see how protected you really are?
Try our In-Practice Income Protection Calculator