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Question regarding my medical own occupation DI quotes

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  • Question regarding my medical own occupation DI quotes

    I just started my attending job and looking to get disability insurance.

    I'm 35, male, non-smoker, no chronic health issues, live in western pa, in cardiology. No loans at this time, but may buy a house soon.

    Benefit pays out 17,800 from 91 days to age 70 medical own occupation.

    Leveled w/o Future increase benefit or coast of living adjustment = 530 / month

    Leveled + FIB + COLA = 861 / month

    Non-leveled + FIB + COLA = 300 /month

    A few questions
    1. How important is a leveled policy?
    2. How important is COLA? I hear mixed responses

    My quotes seem pretty expensive for someone who is relatively healthy...

    Thanks!

  • #2
    You should check carriers that are not Northwestern (Making the assumption since you said Medical Occupation) since most folks want a true own specialty definition of disability and they will cost less per dollar of coverage. If you don’t have a bunch of debt or need maybe you should look at buying what you need and have options for what you might want.

    Costs for your coverage should be about $25 per month per $1,000 of monthly benefit if you are in good health.
    Scott Nelson-Archer, CLU, ChFC
    303-953-0263 Direct / [email protected]

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    • #3
      I assume you have read this: https://www.whitecoatinvestor.com/wh...ity-insurance/
      I assume you are working with an independent agent:
      https://www.whitecoatinvestor.com/websites-2/insurance/

      If not, Scott’s contact information is on the list.

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