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Hello,
Im a PGY4 and currently have guardian 4k with 12k future increase option since 2018.
My colleague who also had the same 4k/12k policy (but with another agent) recently purchased another $3500 of guardian policy to max the current limit for residents which I am told is 7500 this year. She did this to take advantage of her resident discount before graduating in June 2021.
I too will be graduating in June 2021 and was trying to see if I could max out and purchase another 3500 as well instead of using the 12k increase option. However, my agent told me that because I had signed a new contract with a set start in august of this year with a future employer (who will be providing free long term group disability insurance) he said I would not be able to max or do the extra 3500 coverage. He also said that I can only increase another $4650 out of 12k of my future increase option instead of purchase extra 3500, due to the fact that my future employer in august will be providing me with group long term disability. He said even though I have not started the job but because I have officially signed the contract, I would not be able to increase the full 12k or max out my resident limit up to 7500 (including my current 4k) as stated above. He said that I can purchase a 3500/mo extra coverage if I really wanted to, but that it won't be clean and that once guardian communicates with the disability company my future employer offers, i would not get the full benefit if I were to get disabled.
I know my group disability is not going to be as good as the guardian so I wanted to get extra coverage but because of the fact that I will be eligible for group long term, I cannot purchase extra guardian coverage, but only use portion of the future increase option.
How come my friend was able to do the full 3500 to get up to 7500 but I couldn't? Did my friend's agent screw up or is my agent missing something? Does anyone have any advice or insight in terms of this?
Thank you so much in advance.
Im a PGY4 and currently have guardian 4k with 12k future increase option since 2018.
My colleague who also had the same 4k/12k policy (but with another agent) recently purchased another $3500 of guardian policy to max the current limit for residents which I am told is 7500 this year. She did this to take advantage of her resident discount before graduating in June 2021.
I too will be graduating in June 2021 and was trying to see if I could max out and purchase another 3500 as well instead of using the 12k increase option. However, my agent told me that because I had signed a new contract with a set start in august of this year with a future employer (who will be providing free long term group disability insurance) he said I would not be able to max or do the extra 3500 coverage. He also said that I can only increase another $4650 out of 12k of my future increase option instead of purchase extra 3500, due to the fact that my future employer in august will be providing me with group long term disability. He said even though I have not started the job but because I have officially signed the contract, I would not be able to increase the full 12k or max out my resident limit up to 7500 (including my current 4k) as stated above. He said that I can purchase a 3500/mo extra coverage if I really wanted to, but that it won't be clean and that once guardian communicates with the disability company my future employer offers, i would not get the full benefit if I were to get disabled.
I know my group disability is not going to be as good as the guardian so I wanted to get extra coverage but because of the fact that I will be eligible for group long term, I cannot purchase extra guardian coverage, but only use portion of the future increase option.
How come my friend was able to do the full 3500 to get up to 7500 but I couldn't? Did my friend's agent screw up or is my agent missing something? Does anyone have any advice or insight in terms of this?
Thank you so much in advance.
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