1. Disability Insurance Proposal

Who We Are

LeverageRx is a digital lending and insurance marketplace exclusively for doctors. We make it incredibly simple to compare rates on financial services including student loan refinancing, personal loans, long term disability insurance, life insurance and exclusive mortgage programs for doctors.

What we offer

Consultants

Unbiased advice that's in your best interest

Experienced

Help thousands of doctors across the country each year

Protectors

Provide insurance doctors need to protect their income, lifestyle, and future

Educators

Teach doctors the life skills they missed in training

Physician Focused

99% of our clients are doctors

How Disability Insurance Works

Pie chart
60% After Tax Income
40% Taxes
Pie chart
Employer/Group Disability Insurance
Private Disability Insurance
40% Taxes

What Doctors Need in a Disability Insurance Policy

In 2017 we completed an analysis of over 2,000 disability insurance policies purchased by physicians

Must Haves

Own Ocupation
Definition of Disability
Own Ocupation

(92.4% of physicians)

Non-Cancelable
Renewability
Non-Cancelable

(Rated #2 most important feature)

Residual Benefit
Partial Benefits
Residual Benefit

(95.9% of physicians)

Future Increase
Ability to Increase
Future Increase

(Rated #4 most important feature)

Nice to Have

Cost of Living Adj.
Additional Rider
Cost of Living Adj.

(70.1% of physicians)

Catastrphic
Additional Rider
Catastrphic

(30.1% of physicians)

Don’t Need

Student Loan Benefits
Additional Rider
Student Loan Benefits

(Only 4.6% of physicians)

Common Definitions and Terms

Own Occupation or Regular Occupation The inability to perform the substantial and material duties of your occupation.

Your Occupation or Own Occ not engaged The inability to perform the substantial and material duties of your occupation and not working.

Transitional Own Occupation This would be the same as own occupation but with a cap of a 100% replacement of income from income plus disability benefits to earnings prior to being disabled.

Any Occupation The inability to perform any occupation that you are reasonably able to perform based on the clients education, training and experience.

Residual Usually added by rider, this feature allows the insured to collect benefits while residually disabled and working. The definition usually reads due to injury or sickness the insured is unable to perform one or more of the substantial or material duties of their occupation, is working and is suffering a loss of income of at least 20%. If the insured has a loss of income of 75% the insured is deemed totally disabled and receives full benefit.

Recovery Recovery is a loss of income benefit paid after a client has fully recovered from a total or residual claim but still suffers a loss.

COLA or Cost of Living adjustment This benefit increases the benefit payable on claim every year to help fight inflation.

Future Insurability Option The ability to increase your monthly benefit on specified anniversaries without evidence of medical insurability. Financial verification will be necessary when exercising the option.

Catastrophic Rider This rider pays an additional monthly benefit for the loss of activities of daily living/cognitive impairment. The exact definition varies by company.

Presumptive Benefit This benefit is paid if you permanently lose the power of speech hearing in both ears, sight in both eyes, or use of both hands, both feet, or one hand and one foot. Benefits typically start immediately regardless if you work and usually are paid for life.

Survivor Benefit Usually three times the monthly benefit and is paid if you die while on claim for more than 12 months.

Mental Nervous Limitation This rider limits benefits payable for mental, nervous or substance abuse to 24 months.

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Ameritas
Ameritas
Principal
Principal
MassMutual
MassMutual
The Standard
The Standard
Guardian
Guardian
Product
Benefit Amount
Policy Maximum Benefit
Elimination Period
Benefit
Renewability
Residual Benefit Threshold
COLA Rider
Mental Limitation
Financial Strength
Premium Amount
Price Per $100
No Physical & Labs Limit
Estimated Cost for Different Benefits