Issue and Participation Limits

What are Issue and Participation Limits?  

Issue and participation limits relates to the amount of monthly benefit that you may obtain when submitting an application for disability insurance.  Your monthly benefit is determined by your annual earnings.   Please see the Income Ratio Guide.   The disability insurance companies allow certain professionals a maximum amount of monthly benefit without the need for submitting income documentation.  The Occupations listed below receive special issue limits.  The monthly benefit amounts listed below are the maximum monthly benefit amount one can obtain without providing income documentation. The minimum monthly benefit amount available without income documentation is $ 1,000. 

Mo. Indemnity Limit

First Year Physician

Fellow Physician

Resident Physician

Medical Intern

Senior Medical Student

First Year Dentist

Dental Resident

Senior Dental Student

First Year Architect

First Year Attorney

First Year CPA

First Year Degree Engineer

First Year Optometrist

First Year Pharmacist

First Year Veterinarian

4,500/6,500*3

   4,000*1

   3,500*2

2,500

2,100

3,500

3,500

2,100

2,000

2,000

3,000

2,000

2,000

2,000

2,000

Discounts

5% Preferred Risk Discount - Berkshire/Guardian Life requires the policy to be issued without any exclusions and the premium must be in excess of  $ 2,000.00 per year.  Discount not available in California. 

10% Employer Sponsored (VIP) - Berkshire requires two or more employee's obtaining coverage employed by the same employer.  Employer must provide an endorsement letter stating that all employees from that employer will receive the discount when applying for coverage. Employer sponsored discount not available in California.

10% Multi-Life Discount - Standard requires three or more employees from the same employer to obtain discount.  No letter is required.  Premiums become gender neutral rather than gender distinct.   Discount for males then become around 2% and 50% for females. 

15% Non-Smoker Discount 

Notes:

• Training hospitals usually provide group disability coverage to you at no cost. This coverage does not include the same protection as individual coverage.  As a result, the insurance companies overlook your group coverage when you apply for individual coverage.   Please call us to find out how we can coordinate supplemental disability coverage for you.

• In California, Guardian Life limits the Future Increase Option rider to a maximum of $ 5,000 per month.

• In all states, Standard limits the Future Increase Option rider to a maximum of $ 5,000 per month. 

• *1 Standard limits Fellow Physician's to $ 4,000 per month.  

• *2 MetLife limits the maximum monthly benefit to $ 3,500 for physician in training.

• *3 Standard Insurance limits for first year physician's have increased to $ 6,500 per month without income documentation.

• Physicians in the state of California and Florida are limited to a maximum $ 10,000 per month of disability coverage.  Depending on your income, Lloyds of London provides coverage with higher limits.  In all other states, you are limited to $ 15,000 of monthly benefit.  If you are insuring your retirement contributions, you can obtain an additional $ 3,750 per month for a total of $ 18,750 of monthly benefit.

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