My EM resident wife was contingently offered this (which I think was an awesome deal):
Annual premiums based on: 34 y/o female, non-nicotine, occ class 4P, 35% unisex discount
However, after the medical history examination, MassMutual would not offer the Own Occupation Rider or COLA Rider at this time. After 3 years, they will reconsider the underwriting for those 2 riders. She just started residency, so the 3 year mark would be about when she becomes an attending.
What should we do? I don't particularly care about the COLA Rider, but the Own Occupation Rider seems like it could be important. My assumption is that the other insurance companies will be be 50-100% more expensive for the premiums, and they might not offer Own Occupation either. How important is Own Occupation to a resident?
Thanks!
- Total DI Benefit $5K: $961
- Extended Partial Disability Benefit Rider $5K: $319
- Own Occupation Rider $5K: $211
- Automatic Additional Benefit Increase Rider 3%: $0
- Future Insurability Option Rider $10K: $194
- COLA Rider 3%: $176
- Total Annual Premium: $1863
Annual premiums based on: 34 y/o female, non-nicotine, occ class 4P, 35% unisex discount
However, after the medical history examination, MassMutual would not offer the Own Occupation Rider or COLA Rider at this time. After 3 years, they will reconsider the underwriting for those 2 riders. She just started residency, so the 3 year mark would be about when she becomes an attending.
What should we do? I don't particularly care about the COLA Rider, but the Own Occupation Rider seems like it could be important. My assumption is that the other insurance companies will be be 50-100% more expensive for the premiums, and they might not offer Own Occupation either. How important is Own Occupation to a resident?
Thanks!
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